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DEGC Looking for Developer for Foreclosed Lafayette Towers

DEGC Looking for Developer for Foreclosed Lafayette Towers

By Veronica Grecu, Associate Editor In an effort to balance out the shrinking apartment occupancy rates in Downtown, The Detroit Economic Growth Corporation (DEGC), acting on behalf of the City of Detroit, is requesting creative proposals for the purchase and redevelopment of two iconic buildings in the Lafayette Park Residential…

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Detroit Housing Occupancy Level Tightens as Chrysler Opens New Office, Relocates Employees

Detroit Housing Occupancy Level Tightens as Chrysler Opens New Office, Relocates Employees

By Veronica Grecu, Associate Editor More than one year has passed since the U.S. Department of Housing and Urban Development (HUD) removed Detroit from the “troubled designation list” due to improvements in the housing status and added it to the list of standard performing cities. Detroit’s revival plans have been…

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Renovated Bell Building Welcomes First Wave of Residents

Renovated Bell Building Welcomes First Wave of Residents

By Veronica Grecu, Associate Editor Detroit’s Neighborhood Service Organization (NSO), a private non-profit human service agency looking to provide shelter to homeless people, announced that the first group of residents has moved into the former Michigan Bell Telephone Co. building as a complex revitalization process is nearing completion at the…

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“Magic” Johnson Backs Up Michigan State Fairgrounds Mixed-Use Redevelopment

“Magic” Johnson Backs Up Michigan State Fairgrounds Mixed-Use Redevelopment

By Veronica Grecu, Associate Editor Basketball star Earvin “Magic” Johnson—a Lansing native now turned entrepreneur—has teamed up with businessmen  Joel Ferguson, also of Lansing, and Marvin Beatty of Detroit in one of the most ambitious revitalization projects proposed in Detroit in the past years. The venture plans to acquire the…

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Historic State Savings Bank Building to be Replaced by Parking Garage?

Historic State Savings Bank Building to be Replaced by Parking Garage?

By Veronica Grecu, Associate Editor Canadian entrepreneur and real estate investor Andreas Apostolopoulos has caused quite a stir among architectural preservationists after revealing tentative plans to create more parking space in Detroit’s Financial District by tearing down one of the city’s historic buildings. Located at 151 Fort Street, the State…

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Nabisco Becomes U-Haul Self-Storage Location; Urban Farm Receives Grant for Solar System

Nabisco Becomes U-Haul Self-Storage Location; Urban Farm Receives Grant for Solar System

By Veronica Grecu, Associate Editor AMERCO Real Estate, the parent company that owns U-Haul International based in Phoenix, AZ, has recently acquired one of Detroit’s historic buildings, the 250,000-square-foot National Biscuit Company (Nabisco) located at 899 West Baltimore Street, expanding its network of self-storage locations in the city. The company’s…

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Private Investment Venture Snags All Foreclosed Properties in Macomb County for $4.9 M

Private Investment Venture Snags All Foreclosed Properties in Macomb County for $4.9 M

By Veronica Grecu, Associate Editor Former yacht dealer and millionaire Bill McMachen and an unnamed partner snapped up all foreclosed properties in Macomb County at a public auction held last week at Freedom Hill in Sterling Heights. For $4.9 million or an average of $7,500 per property, the two buyers…

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Title Source Moves 1,500 Employees to Downtown Detroit

Title Source Moves 1,500 Employees to Downtown Detroit

By Veronica Grecu, Associate Editor Dan Gilbert’s family of companies continues to consolidate its presence in Detroit’s Central Business District as Title Source, a Rock Ventures-affiliated company, has started relocating 1,500 of its Michigan-based employees to the First National Building, a Class A office tower located at 660 Woodward Ave.…

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$44 Million Grant Helps Detroit RiverWalk Redevelopment

$44 Million Grant Helps Detroit RiverWalk Redevelopment

By Veronica Grecu, Associate Editor In an effort to wrap up the remaking of the 5.5 mile RiverWalk that connects the Ambassador Bridge and Belle Isle, the city of Detroit received a total of $44 million in state and federal grants as financial support for the final stage of construction.…

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Woodward Gardens Block Development to Utilize Clean Energy from Detroit Thermal

Woodward Gardens Block Development to Utilize Clean Energy from Detroit Thermal

By Veronica Grecu, Associate Editor Detroit Thermal (DT), a key component of the city’s clean energy infrastructure, announced the addition of Woodward Gardens to its network of over 140 greater downtown area properties that utilize steam energy. Located on Woodward between Mack and Warren, Woodward Gardens Block Development is a…

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Could a Zombie Theme Park Bring Back Detroit’s Vacant Properties?

Could a Zombie Theme Park Bring Back Detroit’s Vacant Properties?

By Veronica Grecu, Associate Editor Over the last couple of years the subject of vacant properties has created a myriad of debates among Detroiters and city officials alike. Various revitalization initiatives and programs have been proposed to reduce the ‘eye soaring’ effect of these abandoned sites and breathe new life…

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Michigan to Auction 140 State Properties

Michigan to Auction 140 State Properties

By Veronica Grecu, Associate Editor The Michigan Department of Natural Resources (DNR) and the Michigan Land Bank Fast Track Authority (MLB) jointly announced the sale of 140 properties located throughout the state—but primarily in northern Michigan—in a sealed-bid auction that started on June 20.  Comprising more than 2,400 acres, the…

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