DETROIT-Michigan Governor John Engler joins former Detroit Mayor Dennis Archer in attempting to sell Northville property to balance the state budget. Detroit has 900 acres that it may try to sell for $31.5 million.
DETROIT-A new multifamily and retail mixed-use plan to redevelop the former Tiger Stadium will go far beyond minor-league play, say city planning officials, who will unveil a $200-million plan today.
BIRMINGHAM, MI-An Indianapolis investment firm pays $40,734 per unit for four central Ohio multifamily rental properties from Associated Estates Realty Corp., one of the largest property owners in the state.
DETROIT-"Local and state tax based incentive programs are helping real estate activity moving forward," says CB Richard Ellis' Marianne Evans, as the office and industrial sectors take occupancy and sales hits.
PLYMOUTH, MI-A $700,000 brownfield cleanup plan will go a long way to help build a $31-million condominium complex Downtown, adding to a list of other residential and mixed-use projects in the neighborhood.
CLEVELAND-Sharp decreases seen in funds from operations, revenue and occupancy, caused by a slow hotel market weakened by the Sept. 11 terrorist attacks, causes the REIT to consider suspending a pay-out.
ANN ARBOR, MI- Institutional Shareholder Services says shareholder dissent is unfounded and praises a proposed merger with Commercial Net Lease Realty Inc. as being the most financially sound idea for stockholders.
DETROIT-Population in the region will grow by 568,000 despite an exodus to Sunbelt states. Meanwhile, growth in the suburbs will create a strain on the infrastructure, says the Southeast Michigan Council of Government.
MILFORD TOWNSHIP, MI-Township trustees will hold a special meeting Tuesday night to discuss a builder's threat to annex 677 acres to development-friendly Wixom to the south, where he could build 2,500 units instead of 200.
SOUTHFIELD, MI-Former vice president of retail division Randy Thomas takes the lead on recently-formed subsidiary. He will oversee Insite's "team services" concept for tenant representation and corporate services.