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Cash Incentive Programs Continue to Lure Professionals to Detroit

Cash Incentive Programs Continue to Lure Professionals to Detroit

By Veronica Grecu, Associate Editor Live Midtown, a cash incentive program that encourages employees of Henry Ford Health System, the Detroit Medical Center and Wayne State University to buy or rent in Detroit, proved to be so popular that it will [...]…

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Private Partnership Brings New Life to Industrial Property in Corktown

Private Partnership Brings New Life to Industrial Property in Corktown

By Veronica Grecu, Associate Editor After spending $270,000 to purchase a Corktown industrial property in September last year, two ambitious investors decided to transform the building into creative office space. Native Detroiter Angel Gambino, a media and Web business development expert, and [...]…

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Eastern Market Redevelopment Starts with Shed 5

Eastern Market Redevelopment Starts with Shed 5

By Veronica Grecu, Associate Editor Work on a new redevelopment project in Detroit’s historic Eastern Market has begun with the renovation of Shed 5, the northernmost enclosed shed in the market and the core of the market. The $3.9 million upgrade [...]…

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Construction to Resume on Woodland Villas Condo Development

Construction to Resume on Woodland Villas Condo Development

By Veronica Grecu, Associate Editor According to Detroit Free Press, construction on Woodland Villas, a half-finished luxury condo development close to downtown Birmingham, will be resumed this spring. The housing project was originally developed by Ron Hughes, who managed to build [...]…

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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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