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Detroit Real Estate Improving, Says S&P/Case-Shiller Report

Detroit Real Estate Improving, Says S&P/Case-Shiller Report

By Veronica Grecu, Associate Editor A recent report published by S&P/Case-Shiller reveals that only two of 20 metropolitan regions in the United States posted annual home price increases. Those two regions are Washington, D.C., and, surprisingly, Detroit—a city whose economy and [...]…

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Wright-Kay Building Joins Dan Gilbert’s Portfolio; Aloft Boutique Hotel to Open in Detroit

Wright-Kay Building Joins Dan Gilbert’s Portfolio; Aloft Boutique Hotel to Open in Detroit

By Veronica Grecu, Associate Editor Bedrock Real Estate Service, one of Dan Gilbert’s companies, has just paid $575,000 for the vacant Wright-Kay Building, one of Detroit’s historic structures located at 1500 Woodward, reports The Detroit News. According to CBRE Inc. representatives [...]…

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Increase in Hotel Occupancy Strengthens Detroit’s Recovery Trend

Increase in Hotel Occupancy Strengthens Detroit’s Recovery Trend

By Veronica Grecu, Associate Editor Less than six months ago Detroit was facing such a dramatic population decline caused by a sluggish economy that local experts and city officials were forced to come up with a serious rescue plan. Things started [...]…

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Redeveloped Bell Building will Lose Iconic Yellow Pages Sign

Redeveloped Bell Building will Lose Iconic Yellow Pages Sign

By Veronica Grecu, Associate Editor As part of a redevelopment project that aims to transform the historic Michigan Bell Telephone Company building into shelters for homeless, the iconic Yellow Pages sign that has been hanging for almost 50 years from the [...]…

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Outdoor Exhibit Space Built on Vacant Lot

Outdoor Exhibit Space Built on Vacant Lot

By Veronica Grecu, Associate Editor Revitalization and redevelopment seem to be the magic words in Detroit! City officials, entrepreneurs, businessmen and residents alike are in a quest to regain Motown’s lost glory. Matthew Naimi, founder and director of operations of Recycle Here!, [...]…

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$3.3 Million Tax Exempt for New Meijer Store; Urban Science Joins “Live Detroit”

$3.3 Million Tax Exempt for New Meijer Store; Urban Science Joins “Live Detroit”

By Veronica Grecu, Associate Editor The Michigan Economic Growth Authority (MEGA) has approved a $3.3 million tax credit that would help Grand Rapids-based hypermarket chain Meijer build a new store in Detroit. According to Detroit Free Press, Meijer could invest $33 [...]…

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Mindfield Pictures Plans a Renovation for Historic Castle-Like Building

Mindfield Pictures Plans a Renovation for Historic Castle-Like Building

By Veronica Grecu, Associate Editor Crain’s Detroit Business reports that local media firm Mindfield Pictures proposed a $2 million to $3 million redevelopment initiative for the historic Grand Army of the Republic (GAR) building purchased from the city for $220,000. The [...]…

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Gilbert Asks for 15-Year Extension of Renaissance Zone

Gilbert Asks for 15-Year Extension of Renaissance Zone

By Veronica Grecu, Associate Editor It’s no news that Quicken Loans founder Dan Gilbert, Detroit’s prominent real estate investor, is in a buying and rehabbing spree. Already the owner or more than five office buildings in the city’s financial district, Gilbert [...]…

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Henry Ford Health System to Develop Senior Housing Facility in Grosse Pointe Farms

Henry Ford Health System to Develop Senior Housing Facility in Grosse Pointe Farms

By Veronica Grecu, Associate Editor Grosse Pointe Farms seniors will benefit from a new housing facility that will be developed by a partnership between Henry Ford Health System, American House Senior Living Communities and Southfield-based Real Estate Development and Investment Company [...]…

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New Life for the Clawson Theater Building; Cleveland-based Developer Sets Eyes on Three Capitol Park Buildings

New Life for the Clawson Theater Building; Cleveland-based Developer Sets Eyes on Three Capitol Park Buildings

By Veronica Grecu, Associate Editor A long-vacant movie house in downtown Clawson was recently purchased by Mary Liz Curtin and her husband Stephen Scannell, who co-own Leon & Lulu, a Detroit-area retailer of home furnishings and lifestyle merchandise located next door. [...]…

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Quicken Loans Employee Relocation Makes Detroit Reconsider Its Housing Options

Quicken Loans Employee Relocation Makes Detroit Reconsider Its Housing Options

By Veronica Grecu, Associate Editor Detroit’s former Trolley Plaza apartment building, located at 1431 Washington Boulevard, has been rebranded as Detroit City Apartments, according to the Detroit Free Press. Opened in 1981, the Trolley Plaza building was later renamed as Washington [...]…

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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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