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Charlevoix’s New Ordinance Inhibits Blight

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Charlevoix City Council has approved a property maintenance code to address declining properties before they reach blight status. The international Property Maintenance Code Ordinance is designed to supplement the Dangerous Buildings Ordinance.  According to zoning administrator Jonathan Scheel, the city didn’t have any type of property maintenance code to prevent a building from becoming dilapidated. The new code will give the city the ability to intervene and require deteriorating structures to be corrected before they become unfixable issues.

 

 

Habitat for Humanity Awarded Grant Monies

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Michigan’s Habitat for Humanity received a $2 million federal grant. The grant will cover home repair needs for 160 low-income families. Grant funding comes from the U.S. Department of Housing and Urban Development’s Healthy Homes Production Grant Program. It’s part of $104 million plus awarded from HUD to 60 nonprofit organizations and government agencies.  With the addition of this grant, Habitat for Humanity will increase its current repair program by 50%.

City Ordinance Supports Construction of Accessory Dwelling Units

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Charlevoix’s city officials are searching for solutions to the area’s affordable housing shortage. Accessory dwelling units (ADUs) are small outbuildings that can be used for a variety of purposes, from guest apartments to home offices. At a January 10 meeting, Charlevoix’s planning commission  recommended approval of regulations that would make ADUs easier to build in residential areas. The ADUs increase property usage in residential districts, provide extra space for families, and allow space for multi-generational homes that support familial caretaking. They create income sources when they serve as rentals. The accessory units also increase property values.

Michigan’s Rental Aid is Backlogged as Need Continues Rise

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173,000 tenants have applied for the statewide rent aid program that was launched to help renters avoid eviction and meet their payments. Wayne County makes up about one-third of the applicants. Detroiters make up 22% of the rent help applicants. According to the chief operating officer of the Wayne Metropolitan Community Action Agency, they continue to see high numbers of requests for support. The Census Bureau’s Household Pulse Survey reports that between Dec. 1 and Dec. 13,  more than 100,000 Michiganders said they were behind on rent or mortgage payments. Less than half of the applications for assistance were approved as of January 7. Statewide, wait time between application and approval averages 35 to 40 days. In Wayne County, that wait time may take as long as 10 weeks. MSHDA has hired staff combat the backlog and high numbers of applications in Wayne County

Pontiac’s Woodward Loop Will Get Pedestrian-Friendly Makeover

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Pontiac’s Woodward Avenue Loop opened in 1964 during the urban renewal binge. State high engineers announced they would turn Detroit’s I-375 spur into a street-level boulevard over the next several years. MDOT announced that it’s making a similar commitment for the Woodward Loop. Construction will take place in 2024-2025, along with the simultaneous reconstruction of M-59 through Pontiac. It will include new sidewalks, traffic signals and bike paths. The goal is to turn Pontiac’s Woodward Avenue into a series of pedestrian-friendly two-way boulevards with slower traffic speeds. The project also aims to reconnect neighborhoods to the downtown.

 

 

Ann Arbor Takes Steps Toward a More Walkable Neighborhood

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Ann Arbor real estate developer, Oxford Companies, plans to build a new apartment building on Ann Arbor’s south side. The space is currently used as parking for its main office. No timeline has been set for construction. The development endeavors to create a more walkable and livable neighborhood. The 226-acre area may potentially be rezoned to allow new buildings up to 300 feet which will develop a high-density and mixed-use area to create a downtown environment. The proposal would require the rezoning of 69 properties, including those around Briarwood Mall.

 

 

U.S. Home Prices Increased in October

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The S&P CoreLogic Case-Shiller 20-city home price index, out Tuesday, increased 18.4 percent in October from a year earlier. This was a slight deceleration from the 19.1 percent increase noted in September. All 20 cities noted on the price index recorded double-digit gains with Phoenix, Tampa and Miami leading the pack. Low mortgage rates and low home inventory, along with high consumer demand, have strengthened the housing market. Chief economist of Realtor.com predicts that the price growth will slow but continue to go up as the year progresses. Mortgage rates fell again last week, signaling concern about the omicron variant depressing economic growth.

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Residential Sale Prices Continue Upward Trend

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Prospective buyers in Michigan’s housing market placed higher bids in 2021. A lack of inventory caused a 13.8% increase in residential sale prices in 2021 compared to the same period in 2020. There was a 3% increase in total sales. Branch County, Detroit, Bay County, Sanilac County and Mason, Oceana and Manistee counties reported higher than 20% increases in housing prices. Gratiot, Isabella, St. Joseph, Greater Shiawassee and Hillsdale counties reported less than 7% housing price increases. Antrim, Charlevoix and Kalkaska were the only to counties to report a decrease in home prices (-0.7%).

 

Home Sales Predicted to Continue Surging in December

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According to RE/MAX of Southeastern Michigan and the Home Builders Association of Southeastern Michigan, November was a robust month for home sales and new home starts. December promises even stronger home sales than last year’s figures. New single-family home permits were above 300 in Macomb, Oakland, St. Clair and Wayne counties for 18 months running. Even with the supply chain issues, new-home permits helped to make the year successful. However, no new multifamily permits were issued in November. The number of pending sales in November indicates that December will be a good month.

 

 

Lafayette West Development Secures Loans

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