(To read more on the multifamily market, click here.)

(Natalie Keith is a contributing writer to GlobeSt.com.)

PORT HURON, MI-In response to the request for proposals issued by the City of Port Huron, two developers have submitted proposals to redevelop the City Hall site, both of which call for relocating City Hall and building condominiums. Under both proposals, the condominiums would be built in two towers, a newly constructed tower and redeveloped existing tower.

One proposal submitted by Clinton Township-based Glenrio & Associates Inc. calls for constructing 36 units in the existing tower. Another tower would be constructed, but the number of units that it would contain has not yet been determined, Roy D. Sera, principal of Glenrio, tells GlobeSt.com. Upon completion, the project would have an estimated value of $30 million. "With the existing building, in order to build luxury units in it, you could only fit 36 units, but it's all speculation right now," Sera says.

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