Michigan Real Estate News Roundup
A weekly roundup of Michigan Real Estate News
- The worst kept secret in Detroit real estate is out: Ford has purchased the former Michigan Central Station and will be developing an entire campus in the Corktown neighborhood focused on autonomous vehicles.
- The complex deal surrounding the “fail jail” in downtown Detroit has finally been approved. Dan Gilbert-affiliated entities will build a new $533M jail just outside of downtown, and in exchange, Gilbert will receive title to the land upon which the old jail, juvenile detention facility, and “fail jail” were located in the heart of downtown.
- The Detroit Medical Center is building a $65M sports medicine facility in the District Detroit, the Ilitch-developed arena area located on Woodward.
- A 9-screen movie theater is headed to the Midtown neighborhood of Detroit. The new theatre will be part of the Alamo Drafthouse chain. The downtown/midtown area currently has no multi-screen cinemas.
- Is a shortage of trained skilled tradesmen constraining the pace of development in Detroit? Some commentators believe so.
- The planning department staff of the City of Detroit has outlined a vision for the Villages neighborhoods of the City, which includes the English and Indian Village neighborhoods.
- The Berrien Springs estate owned by the widow of Muhammad Ali, and once occupied by the former heavyweight champ (and Greatest of All Time) is listed for sale at $2,895,037. The non-round sales price reflects the 37 knockouts achieved by Ali in his career.
David Nykanen has over 22 years experience as a real estate lawyer. He is the former Chair of the Real Property Law Section of the State Bar of Michigan. Dave has represented property owners of virtually every type, including retail, multi-family, industrial, office, hotel, and high-end residential.
