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Detroit’s Riverfront Towers Rescued?

Detroit’s Riverfront Towers Rescued?

By Veronica Grecu, Associate Editor One week after the Federal National Mortgage Association—better known as Fannie Mae—sued the Riverfront Towers’ owners over an alleged $70 million debt on the loan, plus fees, US District Judge Avern Cohn appointed Ronald Glass of [...]…

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Federal Money for Detroit Metro Airport and Tiger Stadium Football Field

Federal Money for Detroit Metro Airport and Tiger Stadium Football Field

By Veronica Grecu, Associate Editor More than $15 million in federal transportation grants will be awarded to Detroit Metropolitan Airport in Romulus, announced Sen. Carl Levin, D-Mich., in a press release issued last week. The funds coming from the Federal Aviation [...]…

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Home Sales and New Developments Continue to Gain Momentum in the Region

Home Sales and New Developments Continue to Gain Momentum in the Region

By Veronica Grecu, Associate Editor Representatives of local developer The Roxbury Group and non-profit groups Invest Detroit and Midtown Detroit programs announced this week the start of the Auburn complex, a 56,000-square-foot residential and retail development that will be built on [...]…

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Wayne County Approves Plans for New High-Tech Jail, Uniroyal Environmental Cleanup

Wayne County Approves Plans for New High-Tech Jail, Uniroyal Environmental Cleanup

By Veronica Grecu, Associate Editor Wayne County officials approved last week a $220 million development project that would replace three current jails with one high-tech facility. The County Commission awarded the project to a joint venture between local developer Walbridge and [...]…

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Quicken Loans-Owned Buildings in Detroit Receive Federal Grant for Energy Efficiency

Quicken Loans-Owned Buildings in Detroit Receive Federal Grant for Energy Efficiency

By Veronica Grecu, Associate Editor Last week the Detroit Economic Development Corp. approved grants of up to $260,000 in federal tax money for three buildings owned by Dan Gilbert, founder of Quicken Loans. The Detroit News reports that the Dime, the [...]…

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Detroit No Longer a Ghost City

Detroit No Longer a Ghost City

By Veronica Grecu, Associate Editor Motown’s most noticeable real estate developments and transactions were highlighted by Crain’s Detroit Business in an article published this week that shows the city’s steady economic development progress. Detroit’s revitalization plan has been focusing on a series [...]…

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Local Incentives and Federal Programs Help Revive Metro Detroit Residential Market

Local Incentives and Federal Programs Help Revive Metro Detroit Residential Market

By Veronica Grecu, Associate Editor The Live Midtown incentive program which was launched just eight months ago has almost exhausted its funds totaling almost $1 million. The amount provided by Detroit’s major companies, Henry Ford Health System, Wayne State University and [...]…

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Detroit Commercial Real Estate Revived through Green Initiatives

Detroit Commercial Real Estate Revived through Green Initiatives

By Veronica Grecu, Associate Editor The Elevator Building, one of Detroit’s historic landmarks currently offering office and retail space, will undergo major roof transformations with the help of Novi, Mich.-based SRI Energy, a company offering green energy solutions to socially responsible [...]…

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Detroit Housing Market Receives Extra Help From Local Companies

Detroit Housing Market Receives Extra Help From Local Companies

By Veronica Grecu, Associate Editor The U.S. Department of Housing and Urban Development (HUD) agreed to remove Detroit from the “troubled designation list” where it had been since 2005. The decision was taken based on the recommendations offered by members of [...]…

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Shared Workspaces Help Business Development in Metro Detroit

Shared Workspaces Help Business Development in Metro Detroit

By Veronica Grecu, Associate Editor With the number of floating workers rapidly increasing in the new economy, the concept of shared workspaces is growing in the country’s major cities and their metropolitan areas. Freelancers, professionals working from home or independent contractors [...]…

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Home Sales Continue to Sink in Metro Detroit; RiverWalk to Inaugurate New Facilities

Home Sales Continue to Sink in Metro Detroit; RiverWalk to Inaugurate New Facilities

By Veronica Grecu, Associate Editor According to a report issued this week by Realcomp II Ltd., a real estate information company headquartered in Farmington Hills, Metro Detroit residential real estate continued to fall for the sixth consecutive month. The report, quoted [...]…

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New Student Grant Program will Offset Rents and Decrease Apartment Vacancies

New Student Grant Program will Offset Rents and Decrease Apartment Vacancies

By Veronica Grecu, Associate Editor Grosse Pointe Park city officials and the Grosse Pointe Housing Foundation launched a student grant program that would help reduce the renting cost for 580 units. According to Patch.com, the program is designed to encourage young [...]…

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