Multifamily news in Detroit
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Detroit Revitalization Project Breaks Ground
Slated for completion in late 2021, the 68-unit development is located in the Sugar Hill Arts District.
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Detroit Multifamily Report – Summer 2020
While rental rates proved resilient during the first half of 2020, the metro might be looking at a prolonged recovery.
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Top 5 Midwestern Markets for Multifamily Development
Construction projects in five metros account for more than 60 percent of the region’s units underway, according to Yardi Matrix data.
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City Club Apartments Kicks Off Detroit Redevelopment
The $25 million project will update the 1974-built tower and designate 20 percent of the units as affordable for the property's current residents.
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Hunt Arranges Refi for Trio of Historic Buildings in Detroit
The company provided a 10-year, fixed-rate Fannie Mae conventional loan for Hibbard Tower, Kean Building and Trombley Lodge.
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JV Breaks Ground on Detroit Community
A partnership of The Roxbury Group, Invest Detroit, Capital Impact Partners and the Michigan Economic Development Corp. is spearheading the development.
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Walker & Dunlop Arranges $48M Loan for Grand Rapids-Area Community
Vice President Benjy Krosin partnered with Inner Circle Holdings’ President Kari Zapolski to originate the transaction.
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Student Housing Community Wraps Up in Detroit
Developer Corvias and Wayne State University have finished the second phase of the 841-bed project.
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LR Management Buys Detroit-Area Community
The acquisition of the 62-unit asset in Farmington Hills, Mich., was subject to a $3.5 million Fannie Mae loan from Greystone.
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Detroit Multifamily Report – Summer 2019
The leisure and hospitality sector leads gains, mainly due to an increasing number of visitors as well as new hotel projects coming online.
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The Habitat Co. Bolsters Condominium Division
David Barnhart, the newly appointed vice president, will work alongside Shruti Kumar, appointed as regional manager, in overseeing the company’s portfolio in Chicago, Detroit and Tampa.
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Madison Marquette, GFH Financial Group Buy 6-Building Senior Housing Portfolio
The joint venture purchased properties located in California, Washington and Michigan totaling 509 units.
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Michigan Awards LIHTC for 536 Affordable Units
The state selected five projects in Detroit for the federal tax credits, which will support the construction of 235 new units and preserve the affordability of 318 existing units.
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Time Equities Adds Community to Grand Rapids Skyline
The 16-story tower is the result of a joint effort between contractor Pioneer Construction, property manager KMG Prestige as well as architecture firm Ghafari Associates.
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Trio of Midwest Communities Commands $100M
With this acquisition, The Habitat Co. enters the Minnesota market while expanding its multifamily portfolio in Michigan to more than 2,500 units.