Detroit
On the Market: 5 Interesting Listings for the Week of 8/17
This week’s list of properties includes a high-end community in Oakland, Calif.; a vintage asset in the Detroit metro area; and an under-construction mid-rise in Jamaica, N.Y.
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.
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.
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.
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.
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.
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.
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..
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.
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.