Michigan Real Estate News Roundup
A roundup of Michigan Real Estate News
- Hazel Park is the new hot housing market in Oakland County.
- Oakland County home prices continue to soar, up 4.4% in June 2018. It is a seller’s market, with low inventory. Prices also soared in the Detroit, with the median sales price up 41% from June 2017.
- A decision on the future of the Ladywood High School property in Livonia has been delayed as the Felician Sisters consider whether to allow another school to utilize the property.
- A new residential development in the Lafayette Park neighborhood of Detroit will bring 374 new residential units to the city.
- A May 2019 election is targeted for a food and beverage excise tax to fund a $110M events center in downtown Kalamazoo.
- The demise of department stores, and particularly Sears, hits Oakland Mall, in Troy. The mall’s anchor store announces its closure in September.
- A 97 room Fairfield Inn hotel is under construction in Grand Blanc Township, with a Hilton-flagged hotel under discussion.
- After years of delay and changes in ownership, renovations of the Albert Kahn designed Free Press building in Detroit are finally underway. The renovation is by Bedrock, the Dan Gilbert-affiliated real estate development company.
- The development of high-end residential units continues unabated in Birmingham.
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.
