Recent Detroit Housing News

New York City REIT buys Bank of America building in Troy
detroithousingmarket.com
The Bank of America building in Troy has a new out-of-state owner with a significant real estate background in metro Detroit. The sale of the 450,000-square-foot building at 2600 W. Big Beaver Road, directly east of The Somerset Collection, sold ... [...]
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The Star's View: Beware of bridge owners bearing gifts | Windsor Star
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The bridge company has cleaned up some of its Detroit properties and is paying off a pile of outstanding fines for code violations on dozens of holdings. Some Detroiters question the impact of a second span, but others love the idea of a long-neglected ... [...]
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Deal closes for $12.2 million purchase of Fisher, Kahn buildings – Crain's …
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... a Detroit native and managing partner of Rheal Capital Management LLC; and Peter Cummings, the former chairman of the Detroit Symphony Orchestra who has been active in Detroit real estate, including having recently opened Detroit's first Whole ... [...]
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Detroit is the Wild West for housing investor Robin Scovill, who sets sights …
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Photo by LARRY PEPLIN Robin Scovill owns or manages about 40 units throughout Detroit, has started a multifamily redevelopment in Midtown and has under contract this warehouse on Custer Street. [...]
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Molina Healthcare opening in old Detroit newspaper building | MLive.com
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DETROIT - Molina Healthcare hosted a ribbon cutting ceremony Thursday at the building formerly occupied by The Detroit News and the Detroit Free Press. The building, owned by Detroit real estate mogul Dan Gilbert, was vacated by the papers last year ... [...]
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Council delays vote again on Riverside Park deal – The Detroit News
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The Morouns own 550 acres of Detroit properties, including the infamous and empty Michigan Central Depot in southwest Detroit. Critics say the Morouns have allowed many of their properties to remain vacant and sometimes blighted and cannot be trusted. [...]
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Metro Detroit retail market snapshot: Trends, vacancy rates – and what's to …
detroithousingmarket.com
Detroit's retail market is one of intrigue. New retail buildings seem to be cropping up across the region, but new retail square footage remains at 30-year lows. This is due to a lack of new retail concepts, closures and consolidations of existing ... [...]
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Gilbert pays $18 million for David Stott, Clark Lofts buildings – Crain's …
detroithousingmarket.com
Photo by CoStar Group Inc. The David Stott Building at 1150 Griswold St. sold for $14.9 million in May. How much difference can a year and a half make in downtown Detroit real estate when it comes to property values? Sometimes, as much as $6 million. [...]
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Minneapolis Developer Proposes $36M Luxury Apartment Building for Downtown
detroithousingmarket.com
Minneapolis-based developer George Sherman is planning to construct a 122-unit apartment building near Gold Medal Park in downtown Minneapolis. The building site is bordered by Washington Avenue South, Second Street South, 10th Avenue South and ... [...]
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Willys Overland Loft Condo Breaks the Bank at $540K
detroithousingmarket.com
This 1-bedroom, 2-bath bi-level penthouse in the Willys Overland building has many attractive features: the concrete floors have an interesting patina, and the place comes with an attached terrace that adds nearly 400 square feet of living space (at ... [...]
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The Real Costs of the $500 Detroit "Dream" Home – The Catch – Curbed Detroit
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Between the Detroit Land Bank Authority's auction homes, and work done by celebrity flippers like Nicole Curtis, whose current project is Brush Park's Ransom Gillis house, there are as many ways to invest in Detroit real estate as there are types of ... [...]
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Q&A with Adam Dunn and Tripp Bell, Founders of The Building, Land …
detroithousingmarket.com
“Magic” Johnson and Partners Get OK to Buy Michigan State Fairgrounds in $4.65 Million Deal · JLL Poaches Major Multi-Family Players for Atlanta Team · Detroit Housing Market Receives Extra Help From Local Companies · NAHB Housing Survey Says ... [...]
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Chief Investment Officer – DTE Deputy Leaves for Fisher Family Office – Ai-cio
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Kenneally is due to start working with the Fisher assets, much of them from Detroit real estate, next month. According to the 2014 Forty Under Forty member, he will be responsible for managing investment portfolios and sourcing new investment ideas ... [...]
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Need a Short Term Rental? New Center Attic Asks $800 – On the Rental Market …
detroithousingmarket.com
One element of Detroit's housing market, the corporate apartment, tends to come in one flavor: generic. These units rent for upwards of $2500 a month, and many offer all the charm and homeyness of a really luxurious meat locker—if a meat locker had ... [...]
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Honigman Scores Ex-Takeda IP Counsel, Paul Hastings Atty
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Law360, New York (June 29, 2015, 2:03 PM ET) -- Honigman Miller Schwartz and Cohn LLP has bolstered its intellectual property department with the addition of two new partners, Takeda Pharmaceuticals International Co.'s former chief IP counsel and an ... [...]
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Detroit is the Wild West for housing investor – Crain's Detroit Business
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Nursing a beer at the Cutter's Bar and Grill rail on Orleans Street in Eastern Market, Robin Scovill looks nothing like the wave of out-of-state investors purchasing Detroit real estate on the cheap. The Los Angeles filmmaker by trade has chin-length ... [...]
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Coach's Corner bar gets new home in Michigan Building downtown – Crain's …
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Both the bar, which opened in its new location Monday at the corner of Bagley and Cass avenues, and the buildings are owned by Detroit real estate investor Dennis Kefallinos. Coach's Corner now occupies about 6,000 square feet in the Michigan Building ... [...]
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Detroit Artist: Actually, Detroit Isn't So Cheap
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I had always bought into the conventional wisdom: New York and San Francisco are expensive; everything in the middle is not. After living in New York City and its greater metro area for 17 years, I certainly understood where that perception came from. [...]
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Charlie Chia38568: Lease Purchase Houses Metro Detroit …
detroithousingmarket.com
If you are looking for lease purchase houses Metro Detroit, you are not alone. Many Metro Detroit homes for sale by owners and agents advertise a lease option or rent to own, but not all of these plans are the same. They are ... [...]
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Inside Detroit's secret techno museum
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Just down the street from Detroit's famous Motown Museum is another building, also dedicated to one of the Motor City's musical legacies, and arguably just as important. You'd never guess from its unassuming exterior — unlike Hitsville USA, it doesn't ... [...]
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Dan Gilbert's mixed-use redevelopment in Capitol Park gets $1M state loan …
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Dan Gilbert Detroit Real Estate Construction/Property redevelopment Detroit 2.0 More +. Photo by CoStar Group Inc. 1215 Griswold St. A $10.3 million plan to turn a vacant Capitol Park building into 5,500 square feet of first-floor retail space and 25 ... [...]
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Detroit home values finally on the rise
detroithousingmarket.com
For Rothstein, it was her "first and last" try at Detroit real estate. Low appraisal values in Detroit neighborhoods mean that many deals are all-cash or through land contracts. In a land contract, a buyer makes a series of large payments to a seller ... [...]
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Housing's top 'turnaround' markets may surprise you
detroithousingmarket.com
Decimated by the ailing auto industry and forced into a foreclosure crisis well before the national one, Detroit's housing market is bucking bankruptcy and seeing prices rise 44 percent from a year ago. Its inventory is down 24.5 percent and homes are ... [...]
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Survey to assess Highland Park, Hamtramck properties
detroithousingmarket.com
Beginning Monday, residents in Hamtramck and Highland Park may see surveyors canvasing the streets — smartphone in hand — to capture images and assess the conditions of 13,000 parcels in both cities. The week-long effort using Motor City Mapping ... [...]
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What's the Motive Behind Matty Moroun Cleaning Up His Detroit Properties?
detroithousingmarket.com
Could it be because the organization wants to look good in the eyes of the Detroit City Council? The city is slated to vote Tuesday on whether to swap some land with Moroun, who wants it so he can build a second Detroit-Windsor bridge, the Detroit News ... [...]
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Hong Kong tycoon tied to Detroit land purchase
detroithousingmarket.com
Metro Detroit Real Estate More +. Photo by COSTAR GROUP INC. This 183,000-square-foot industrial building on Plymouth Road east of Evergreen was purchased by an entity with ties to Jimmy Lai. Jimmy Lai, whom The New York Times has described as ... [...]
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Best of the best: 5 fun things to do July 16-22
detroithousingmarket.com
Grand Circus Park, a prime piece of downtown Detroit real estate for 150-plus years, will get the star treatment Thursday night during the inaugural GRAND CIRCUS GALA, a fund-raiser for organizations devoted to expanding park offerings and making ... [...]
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Well I'm excited today – ActiveRain
detroithousingmarket.com
... Percentile · Michigan Real Estate · Most Active ActiveRain Blogging Agents · Localism Success and Accountability Group. Tags: northville homes for sale · metro detroit buyers market · metro detroit homes for sale ... [...]
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Morouns tidy up before Detroit land vote
detroithousingmarket.com
Members of the billionaire Moroun family, owners of the Ambassador Bridge and the former Michigan Central Depot, are trying to clean up their Detroit properties — and image. (Photo: Todd McInturf / The Detroit News)Buy Photo. [...]
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Hong Kong's 'anti-Communist tycoon' tied to 31 property purchases in Detroit
detroithousingmarket.com
Detroit Real Estate Construction/Property redevelopment Corktown More +. Photo by CoStar Group Inc. This 183,000-square-foot industrial building on Plymouth Road east of Evergreen was purchased by an entity with ties to Jimmy Lai. The man the New ... [...]
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2015 Michigan Housing Market Predictions
detroithousingmarket.com
The Detroit Housing Market looks more or less discouraging in mid-2015: the median home value here is, according to data provided by Zillow, only $37,900. During the past year (since mid-2014) the market has declined by a discomforting 7.8% and should ... [...]
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Council attorneys urge caution on land exchange deal
detroithousingmarket.com
Volume of abandoned homes 'absolutely terrifying'Since 2005, more than 1-in-3 Detroit properties have been foreclosed because of mortgage defaults or unpaid taxes. Special Reports; 3 hours, 9 minutes ago · Detroit. Low pressure hinders firefighters at ... [...]
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5 Key U.S. Spots Where It's Better To Buy Homes Vs. Rent
detroithousingmarket.com
Buying a three-bedroom house now costs less than renting in two-thirds of U.S. markets in a recent study, if you make a 10% down payment. Although South Florida is known for condos, among large markets it's one of the spots with better odds for buying ... [...]
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Who Won Big after Detroit's Bankruptcy?
detroithousingmarket.com
As families have had homes foreclosed or sold them for much less than they paid due to the collapse of the Detroit housing market, reports are that Detroit has become a very popular investment target for Chinese investors “answering the siren call of ... [...]
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Real Detroit Daily Horoscope | Your Chakra
detroithousingmarket.com
Forsaken Detroit homes for sale for as little as $1 Hundreds of properties are for sale in Detroit with asking prices of less than $5,000. Church Hill Downs Kenny Tudrick Tudrick's talents shine in brilliant colors with this one. It's a nearly perfect ... [...]
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Boycott drive gains strength, raising alarm in Israel
detroithousingmarket.com
In this Oct. 31, 2012 file photo, French demonstrators and supporters of Palestinians hold a placard with the word "Boycott" during a demonstration in Paris, France. A campaign called BDS, which was started by Palestinian activists 10 years ago to ... [...]
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Oberholtzer: Detroiters Must Get More Involved in Shaping Our City and Skyline
detroithousingmarket.com
Ownership of Detroit properties is becoming concentrated in fewer and fewer hands, with individual home ownership plummeting while single entities like the Detroit Land Bank Authority owns tens of thousands of properties and individuals like Dan ... [...]
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Michigan's second Field & Stream store in the works
detroithousingmarket.com
Detroit Real Estate Retail Michigan More +. Photo by Natalie Broda/Crain's Detroit Business The Field & Stream store at Oakland Mall opened in March. Heads up, Michigan fishers and hunters: There's a second Field & Stream store in the works for the state. [...]
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Detroit neighborhood real estate finally going up
detroithousingmarket.com
For Rothstein, it was her “first and last” try at Detroit real estate. Low appraisal values in Detroit neighborhoods mean that many deals are all-cash or through land contracts. In a land contract, a buyer makes a series of large payments to a seller ... [...]
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Detroit shipping container model homes near completion
detroithousingmarket.com
DETROIT - It took just a little over six hours to build, that's a big perk, Leslie Horn, one of the minds responsible for building the city's first shipping container building. Horn, CEO of Three Squared Construction, and her brother, Patric, said the ... [...]
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Lease Purchase Houses Metro Detroit – Toshi Guo – Blogger
detroithousingmarket.com
The good news, if you own one of the Metro Detroit homes for sale and for the economy in general, is that new industry, retail establishments and other businesses are coming to town. In 2006, Ernst & Young opened new ... [...]
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Owners want $30M for Silverdome
detroithousingmarket.com
Special Reports. Volume of abandoned homes 'absolutely terrifying'. Volume of abandoned homes 'absolutely terrifying'Since 2005, more than 1-in-3 Detroit properties have been foreclosed because of mortgage defaults or unpaid taxes. Special Reports; 1 ... [...]
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Protesters denounce 'substandard' carpenter wages
detroithousingmarket.com
Volume of abandoned homes 'absolutely terrifying'Since 2005, more than 1-in-3 Detroit properties have been foreclosed because of mortgage defaults or unpaid taxes. Special Reports; 11 hours, 30 minutes ago · Detroit. Low pressure hinders firefighters ... [...]
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Controversial graffiti artist arrested in Los Angeles
detroithousingmarket.com
Detroit — A well-known California graffiti artist who was charged with a felony after he allegedly vandalized Detroit properties while in town to beautify buildings downtown was arrested when he returned to the United States from Europe. Shepard ... [...]
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Open House Offers Sneak Peek at New Shipping Container Condos
detroithousingmarket.com
The Loft Warehouse, a Detroit real estate group acting as sales agent for the project, and its developer, ThreeSquared, will show off one of their soon-to-be-on-the-market shipping container condos from 3-6 pm at an event that also promises food trucks ... [...]
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Buyer beware of Detroit's $500 foreclosed properties
detroithousingmarket.com
About 30,000 homes likely will be auctioned for $500 apiece this fall. (Photo: David Coates / The Detroit News). 1494 CONNECT 64 TWEET 40 LINKEDIN 23 COMMENTEMAILMORE. Sixty-two thousand properties have faced foreclosure in Detroit this year ... [...]
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