Detroit
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.
Affordable Housing Portfolio Secures $142M in Financing
Harmony Housing tapped KeyBank Real Estate Capital to provide loans to six of its properties, located in Texas, Michigan, Wisconsin and Florida. Each property reserves half of the units for residents making 60 percent of the area median income.
Greystone Provides $79M FHA Loan for Michigan Portfolio
The portfolio includes both market-rate and affordable housing communities that will be renovated using the funds. Most of the properties are owned by the Altman Cos.
Detroit: Far From Singing the Blues
Despite numerous headwinds, the city is gamely bouncing back, thanks to concerted efforts by public and private sources to bring commerce and households back to the area.
Midtown Detroit Gets New Mixed-Income Community
Nonprofits Develop Detroit and Preservation of Affordable Housing partnered for the $32 million development that will also include retail space. Project design will be led by Phil Freelon, design director at Perkins+Will.
Friedman Sells 58-Unit Detroit Community
9501 Iris Manor LLC purchased Iris Manor from Thornton Enterprise LLC. The three-story property features one- and two-bedroom units and is close to Wayne State University and the University of Michigan-Dearborn.
248-Unit Community Breaks Ground in Grand Rapids
Springs at Knapp’s Crossing is located along a retail corridor.
Davenport University Investing $6M in New Dorm
The two new buildings at Panther Ridge will be completed by fall, bringing the university’s total residential capacity to 932 beds.
Downtown Detroit’s First New Residential Project in 25 Years Opens
FOURMIDABLE has been named the property manager for the $24 million community.
Detroit High-End Mixed-Use Development Opens
Broder & Sachse Real Estate and Woodborn Partners are calling the property “something totally new” for the city.