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Ann Arbor’s Plans for Blighted Site Take Shape
/in SE Michigan /by Tracy WillisAnn Arbor’s plans for the transformation of a blighted site across from the YMCA are in the works. The SmithGroup presented new drawings to the Planning Commission that show how the Treeline urban trail for pedestrians and cyclists could run through the east side of the site along the railroad tracks. They include a new housing building and courtyard on the west side of the site that would provide a mix of affordable and market-rate housing. The city is trying address many different public interests with this site. The site plans have been changed multiple times. The newest drawings are still not the plan’s final draft.
The Mid Project Faces Another Delay
/in Detroit /by Tracy WillisThe Mid project, a four-acre development in Midtown, was scheduled to begin in the third quarter this year. The project is now expected to begin in the second quarter of 2022. A spokesperson for the project said that the delays are due to the impact of the pandemic on the industries and components that support the project. The proposal aims to bring two high-rise buildings and other mixed-use development to the north of Detroit’s Whole Foods Inc. store. The project’s two planned phases will both begin in the second quarter. They will include about 300 co-living units, multifamily residential housing, retail space, and a hotel.
The Housing Market May Be Calming Down
/in National, SE Michigan /by Tracy WillisExperts say the housing market is may be approaching normalcy for 2022. Home prices should continue to rise, but the pace of the increase will be slower than the last two years. Buyers will continue to outnumber sellers which means home inventory will remain low. Jeannette Schneider, president of RE/MAX of Southeastern Michigan predicts that home values will increase 8-10 percent in 2022. Other experts say models suggest that in October 2022, prices will be 12.8 percent higher than the the year before. The going will continue to be rough for first time home owners.