DETROIT-Mayor Kwame Kilpatrick addresses the need for new permanent casinos in the Downtown area in his first State of the City speech, but points out the cost and process of acquiring land has been much greater in dollars and time than previously expected.
FERNDALE, MI-The suburban Detroit location is too far away from true Michigan farms and should be moved, says State Sen. Leon Stille. He points to falling attendance as a reason for relocation.
DETROIT-Mayor Kwame Kilpatrick addresses the need for new permanent casinos in the Downtown area in his first State of the City speech, but points out the cost and process of acquiring land has been much greater in dollars and time than previously expected.
DETROIT-Property owners have the entire month to pay delinquent taxes without penalty. After that amnesty period, more stringent action will be taken starting in May, including turning accounts over to a collection agency.
BINGHAM FARMS, MI-Although CEO Jeffrey Lewis says the impact is unclear, Kmart leases represent 4% of Malan Realty Investors, Inc.'s total base rents. The retailer has 346,430 sf in Topeka, KS; Forestville, MD; and Madison, WI and Marshfield, WI.
FARMINGTON HILLS, MI-The software company is holding an open house March 21 for its former 235,000-sf headquarters, for which it has already received bids. Compuware moves into a $350-million headquarters in Downtown Detroit.
NEW YORK CITY-Looking ahead to increased RevPAR and cash flow, the hotel REIT hopes to resume dividend payments by third quarter 2002. The company did not pay dividends in the fourth quarter of 2001.
OCEOLA TOWNSHIP, MI-The $9.8-million infrastructure improvement will be paid for through assessments to the developers. Besides residential units, the projects include 225,000 sf of retail and office space. More projects are likely to follow.
NOVI, MI-Physical therapy provider Cassell & Associates, Inc. signs a 10-year lease for space in Grand Plaza Commons II, a wooded office area. The company moves from Farmington Hills, MI.
ROCHESTER HILLS, MI-A subcommittee takes over for the Southeastern Oakland County Resource Recovery Authority and forwards the matter to arbitration. A multifamily developer is among those expecting the $4-million golf course to be built.