Michigan Real Estate News

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High Demand and Low Supply Drive Livingston County Market

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A more affluent and green space is a combination that is bringing a lot of people to Livingston County.  According to Census data, the county saw a 7 percent growth rate from 2010 to 2020. It’s one of the fastest growing counties in the state with a population of more than 193,000 people. Home prices continue to rise, although areas like Fowlerville remain more affordable than surrounding areas. Even with the area’s historical reputation for Ku Klux Klan activity and racial intolerance, there is still more demand for housing than there is supply.

Strings Attached to Development of Northville Downs Property

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Hunter Pasteur Homes’ request for planned unit development eligibility for the Northville Downs property was approved by the Northville Planning Commission. The redevelopment presentation was heavily scrutinized during the almost 5-hour meeting. However, the approval comes with attached strings. The developer must submit a current traffic study, provide values of benefits, the funding it is committed to cover, and the funding requested by the city for public benefits. The segregation of residential uses and the addition of a farmers market as a public benefit must also be addressed by Hunter Pasteur Homes. Planning commissioners approved the eligibility with a 7-1 vote.

 

 

Joe Louis Arena’s Redevelopment to Include Residential High-Rise

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A conceptual plan that was submitted to the city of Detroit in July envisions a 24-story, 290-foot residential high-rise as part of the former Joe Louis Arena’s redevelopment.  According to the Sterling Group, the tower would tentatively be named The Louis and house 500 studio and one-bedroom units. Other possible uses in addition to the residential building are unknown. The site has been discussed as a mixed-use development and could potentially include a hotel. The conceptual plan includes the firms of Neumann Smith, Resurget Engineering and Giffels Webter, as well as construction contractor Colasanti.