Multifamily news in Detroit

Mixed-Income Development Receives City Council Approval in Detroit
Bedrock Detroit and Woodborn Partners will develop a 900-unit residential neighborhood on the former Frederick Douglass public housing site, one of the largest vacant properties in the city.
Market Rate
Record Supply Takes Its Toll in Detroit
The high number of multifamily units completed in 2017 moderated rent growth, which nevertheless continues to outpace the national average.
News
Detroit to Welcome $102M Brush Park Developments
Brush House, Brush 8 and Brush + Watson will bring 367 new units to to the city's historic neighborhood. About one third of the units will be affordable.
Market Rate

  • Asset Campus to Manage MI Student Housing

    Located a stone's throw from the University of Michigan campus in Ann Arbor, 411 Lofts came under new ownership in February.

    08 June 2018 16:40

  • Arbor Refinances Michigan Student Housing Community

    Glenwood Apartments in East Lansing, Mich., obtained a fixed-rate loan with a 35-year term. The owner, DTN Management, purchased the student housing community in 2006.

    24 May 2018 11:58

  • Greystone Provides $36M for MI Asset

    Gables of Troy, a 544-unit community in metro Detroit, will receive a HUD-insured Green Rewards refinancing loan. The 35-year mortgage carries a low, fixed interest rate.

    15 May 2018 14:27

  • Woda Cooper Opens Partially Affordable Michigan Community

    Portland School Apartments is an adaptive-reuse project that consists of 29 new units available for seniors and lower-income working families in Portland, Mich..

    09 May 2018 14:25

  • Adaptive Reuse Sparks Opportunity in Detroit

    Developers and investors showed attendees at the 2018 ULI Spring Meeting how they are converting vacant or obsolete properties into new uses to spur further investment in the city.

    04 May 2018 15:19

  • Andover Real Estate, M Group Pick Up MI Asset

    The buyers financed the acquisition with a $16 million Fannie Mae Green Rewards loan originated by Hunt Mortgage Group.

    03 April 2018 14:55

  • Full Throttle in Detroit

    The city is well into its economic resurgence, attracting investors and young professionals with the help of startups, technology companies and automotive giants that are exploring the trending mobility industry.

    27 March 2018 13:09

  • Exploring Precast Concrete’s Potential

    For 28 Grand in Detroit, approximately 90 percent of the project was constructed using the product, which that enabled developer Bedrock to meet an aggressive construction time frame while incorporating the necessary façade aesthetic. Would this work for your project?

    27 February 2018 17:46

  • Hunt Mortgage Provides Refi for 2 MI Affordable Properties

    The $9.5 million investment in Joseph's Run Apartments in Midland and Roxbury Court Apartments in Clio will be used to refinance both properties.

    05 January 2018 23:45

  • Detroit’s Slow Acceleration

    The metro is on the verge of an economic turnaround, largely due to its broad-based employment growth. This restoration is reflected in the local multifamily market’s improving fundamentals, as well.

    27 October 2017 13:46

  • Meridian Arranges Loan for MI Luxury Property

    The 10-year fixed-rate CMBS financing was secured on behalf of The Harrison, a community located in Royal Oak, Mich.

    25 October 2017 00:30

  • Historic Lafayette Park’s First Luxury Community in 40 Years

    DuCharme Place is a $45 million multifamily project inspired by architect Mies' design of Lafayette Park, the historic district near which the community is situated. The 185-unit development was financed through a HUD loan, one of the only sources of financing for the few ground-up housing projects planned in Detroit

    04 October 2017 15:21

  • How Mission Lenders Fueled Motor City’s Comeback

    After the housing crash, Detroit’s revival was powered by mission lenders. Nearly 42 percent of investment in Detroit real estate was possible with financing from such alternative financing organizations. Urban Institute’s Brett Theodos filled MHN in on mission lending and its opportunities for expansion.

    19 September 2017 20:15

  • The Senior Housing Boom’s Ripple Effect

    Assisted living occupancy fell to its lowest in eight years, despite record absorption, according to NIC’s 2017 second quarter report. San Jose had the highest occupancy, while Detroit recorded the biggest rent growth.

    15 August 2017 19:31

  • Greystone Enters Michigan Market with New JV

    The new joint venture with Commercial Property Advisors will focus on providing multifamily advisory services for clients in Michigan. Cary Belovicz will lead the new organization as an executive managing director.

    21 July 2017 18:54