Michigan Real Estate News

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Bankhole Thompson Calls Out Bedrock’s Tax Subsidy Grab

According to Bankole Thompson, Detroit needs improvements that will impact the lives of its ordinary residents. The tax breaks for big companies are off the backs of ordinary citizens. Residential poverty still exists because of the lack of initiatives designed to make a difference. The city has given away huge tax subsidies to highly capitalized companies who don’t follow through with concrete plans. This is what’s creating the opposition to Dan Gilbert’s request for $60 million in tax breaks for the Hudson site project. Gilbert has the money to complete the project without a tax break from disenfranchised Detroiters. The author believes the heart of the issue is a civil rights issue. The jobs that are promised during the PR blitz for subsidies often do not materialize. The City Council should use the tax break Gilbert wants for more important quality of life issues.

 

 

Ann Arbor Rezones For High-Density Downtown Area

The city of Ann Arbor has rezoned over 200 acres by Briarwood Mall with the intent of developing a high-density downtown area. The West Stadium and North Maple area may be next. The rezoning is meant to increase housing density along transit corridors and commercial development, creating a more pedestrian-friendly area. Feedback on the idea has been mixed. City officials are looking for more input and will hold a virtual webinar over Zoom at 7 p.m. on Tuesday, June. 14.

Charlevoix Mansion Garners High Price Tag

A Charlevoix mansion has sold for the enormous price of $9.845 million dollars. According to Interluxe, a luxury real estate marketplace, that price tag is the 5th highest resale price ever for a residential property in Michigan. The lakefront home at 08425 Raspberry Lane in Charlevoix drew more than $205 million in total bids over four days. The  10,000 square foot home designed  by J Bradley Moore & Associates Architects for Frank Macher. It was built in 2009.