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Posted Oct 24, 2021, 10:40 PM
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Moderator
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Join Date: Aug 2006
Location: Detroit
Posts: 2,484
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New townhomes rising in Woodbridge
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For a few years, we saw a lot of condos coming online and constructed in Detroit. The market's shifting toward townhouses now, with new builds going up in neighborhoods surrounding downtown.
Woodbridge Crossing is currently under construction on Lincoln and Canfield and is led by Scripps Park Associates, LLC, who also built the neighboring Woodbridge Estates.
The first two townhouses have been finished and sold. The next two should be complete by the end of the year, with another two in Spring 2022; they're currently listed for $520,000 and $525,000.
These townhomes are larger than many we've been seeing lately, and they take up a bigger footprint over two floors. They range from 1916-1936 square feet, with three bedrooms, two-and-a-half baths, and a basement. Outside, there's an attached two-car garage, a large front porch, a patio and green space. They're built as duplexes, so the sides of the units will have windows.
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East Riverfront plans move from hotel to apartments
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A larger development in the East Riverfront originally called for a 120-room boutique hotel plus apartments on a 3.1 acre lot. The developer, Moddie Turay, is now planning for an apartment building with 478 units plus retail space. It sits along Atwater across from Cullen Plaza, near the parking structures east of the RenCen. The plan still needs approvals from the DEGC.
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Renovations of affordable housing apartment building complete in Elmwood Park
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This past week, the city announced another extension of affordable rents, this time for seniors on the east side. Parkview Place in Elmwood Park has wrapped up a $19.7 million renovation, and rates will remain affordable for at least 45 years.
The building has 198 apartments and renovations were completed with both mechanical upgrades to the building and individual apartment rehabs. According to a press release, the building received new elevators, a new roof, new windows, new water pumps and boilers, and a new parking lot. Each apartment had $41,000 in work done, which included new kitchen fixtures and cabinets, upgraded bathrooms, and new flooring and lighting.
The renovation was led by MHT Housing. Affordability was kept with a combination of a 9% Low Income Housing Tax Credit from the Michigan State Housing Development Authority, a renewal of a 42-unit Section 8 contract with the U.S. Department of Housing & Urban Development, and an additional eight units of project-based Section 8 vouchers from the Detroit Housing Commission.
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The Motown Museum shifts to its second phase of expansion
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One of Detroit's most famous landmarks is growing, and this week announced a significant milestone. The Motown Museum has raised $32 million of its $55 million goal for its expansion project, and Phase Two is starting construction.
Phase One of the project is nearing completion. It involves the renovation of three of the surrounding homes, creating Hitsville NEXT, the museum's new education and creative hub. This location will be home to camps, workshops, and community events centered around music.
Phase Two will see the construction of a new plaza in front of the museum. This is meant to be a community gathering space, in the spirit of Motown artists that would gather in front of the studio while recording.
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Chroma ready to open new coworking space
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Milwaukee Junction is having a moment. Storefronts are filling in along East Grand Boulevard; Vault of Midnight just moved from downtown to a bigger space, new restaurants and coffee spots have been opening, and a grant from the Knight Foundation will spruce up the streetscaping along the Boulevard. Now, its most noticeable building is ready to open its coworking space.
Chroma Coworking, in the nine-story former storage building at Beaubien and the Boulevard, will officially open its doors Monday. The Platform started construction on the $16 million redevelopment in early 2019. City Year moved its offices into the building a year ago and last year, Sydney G. James painted "The Girl with the D Earring" along the west side of the building. The Platform will also move their offices from the Fisher Building into Chroma.
Chroma Coworking covers the second and third floors of the building. The space has a combination of private offices of all sizes, conference rooms, dedicated desks, and tables and chairs for working. For the private offices, the frosted glass allows for privacy while still bringing in outside light. Floor-to-ceiling windows give most offices a stunning view, whether they're facing the tree-filled North End, the Fisher Building, downtown, or the industrial east side.
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Lear gets to work on new eastside factory
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Earlier this year, the city announced that the old Cadillac Stamping Plant would be torn down and Lear would build a new factory in its place. Prep work has started on the $48 million project, which will supply parts for electric vehicles. The factory will be located near Conner and 94 and will employ 450 people. It's expected to be completed in mid-2022.
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Near Boston Edison, the Charlotte will be rehabbed into 28 affordable apartments
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A block away from some of the most beautiful homes in Detroit, a 1923 apartment building will be rehabbed for affordable housing. The Charlotte sits at Glynn Court and Second Avenue, and developers plan for the work to be done early next year.
The Charlotte has 12 one-bedroom apartments, 13 two-bedroom apartments and three studio apartments. 32 percent of the building will be offered to those making 60 percent Area Median Income, while the rest will be offered to those making 80 percent AMI.
The work is being led by developers Tom Anderton and Adam Noel of Charlotte Detroit LLC. A $2.55 million loan from the Detroit Housing for the Future Fund is supporting the renovation.
The Detroit Housing for the Future Fund has investments from JP Morgan Chase at $15 million and the Kresge Foundation at $10 million. It's managed by LISC Detroit and part of a larger initiative in the City's Housing and Revitalization Department.
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Cathedral Tower wraps up renovations in Midtown
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One of the more noticeable apartment buildings in Midtown has just undergone renovations. Cathedral Tower, on Hancock just off Woodward, has 235 refreshed apartments, all staying at their affordable rates.
Renovations to the apartments include new cabinets, countertops, fixtures, and stainless steel appliances in the kitchens, energy efficient lighting, new heating and cooling systems, and updated vanities in the bathrooms. The fitness center and leasing office also received updates, as well as the community room on the 18th floor.
The renovations started in early 2020, when a HUD contract expired - leaving the apartments vulnerable to converting to market-rate. In an effort between the Michigan State Housing Development Authority, JLL Real Estate Capital/ Freddie Mac, and Bedrock, with support from the City of Detroit Housing and Revitalization Department, the apartments will remain affordable for at least the next 45 years.
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Detroit is 7th in Nation for Apartment Conversions
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Detroit is among the hottest cities in the nation — seventh in the U.S. — where adaptive reuse projects are bringing new apartment units on the market, especially from school and office redevelopments, according to a recent study by RentCafe.com.
Nationwide, more than 20,100 new units are being completed repurposed in 151 old buildings during 2021. Most of these units come from office redevelopments, a trend that began even before the pandemic, hinting at how things may go if work-from-home arrangements continue.
Highlights of the local activity featured in the report include:
Detroit redeveloped 874 new units by repurposing six old buildings like former schools or former offices.
36 percent of these new apartments come from school conversions, while offices account for 29 percent, and factories for 24 percent. Hotel redevelopments represent 11 percent of redevelopment projects in Detroit.
A standout among them is The Press/321, the former Detroit Free Press office building from 1925. Converted to multi-family use in 2021, it now houses more than 100 units.
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BlueGrace Logistics Establishes New Office in Detroit
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BlueGrace Logistics, a third-party logistics (3PL) provider in Detroit, announced the opening of its 11th nationwide office in Detroit, expanding its freight network to serve a growing portfolio of shipping customers and carriers.
The company says it opened a location in Detroit to better serve its core market of managed logistics customers, particularly automakers and manufacturing plants, as well as capitalize on recruitment opportunities from surrounding top supply-chain programs at Central Michigan University, Wayne State University, and Michigan State University.
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New selfie museum opens Saturday in Downtown Detroit; see inside
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(WXYZ) — A new selife museum in Downtown Detroit is officially opening on Saturday.
The Selife Museum of Detroit was co-founded by Detroiter Kelli Cooke and her 14-year-old daughter, Jordyn Watson.
Inside, there are more than 20 different scenes for your social media profiles, and the owners say it's the perfect spot for a date night, day out with friends and family or team-building event.
It's located at 719 Griswold St. inside the Chrysler House building in Downtown Detroit.
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FHLBANK INDIANAPOLIS OPENS DETROIT ‘HUB’ TO SERVE DETROIT COMMUNITIES, PARTNERS
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INDIANAPOLIS – Today, the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) officially opened its Detroit Hub for business with the help of Detroit Mayor Mike Duggan and several Detroit-area affordable housing leaders and financial services partners. The event was hosted at FHLBank Indianapolis’ new suite in the historic Palms Building in the heart of downtown Detroit.
“Detroit is the biggest city in our district and opening a satellite office downtown is just the latest step we’ve taken to growing our ties to the city,” said Cindy Konich, president and CEO of FHLBank Indianapolis. “Our Detroit Hub will provide space for us to facilitate better community investment engagement between local partners and financial institutions committed to affordable housing and community development.”
“We’re excited that another bank is establishing a permanent presence in downtown Detroit,” Mayor Duggan said. “FHLBank Indianapolis has been an affordable housing and a financial services partner in the Detroit area for many years. Establishing its presence in our city is another example of its commitment to investing in Detroit and its residents."
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