Affordable housing project aims to bring economic jolt to Detroit neighborhood

A new mixed-use project in Detroit’s Island view / Greater Villages district on the east side typifies a push to create more affordable housing in the city’s neighborhoods. With 92 apartments on the upper three stories and retail on the ground floor, the Parker Durand aims to deliver a jolt of economic development to a neighborhood that spans Indian Village mansions, trendy shops and a large amount of vacant lots and run-down buildings.

Leer más (en inglés)

 

To Help Revive Downtown, Detroit Looks Beyond a Failed Jail

A site on the edge of this city’s downtown sat for years with a half-built jail behind a chain-link fence, a remnant of the city’s prebankruptcy corruption and mismanagement. Now, it is getting new life, city leaders plan to unveil a $300 million project on 14 acres that will include a University of Michigan research and education center for 1,000 students, a residential building, an incubator for startup companies and ultimately a hotel and conference center.

Leer más (en inglés)

12 developments set to transform Detroit

These 12 projects, either in progress or planned, will be transformational to not just their neighborhoods, but the city as a whole. those that change how we live, work, play, and get around our city.

Leer más (en inglés)

U.S. mortgage rates rise to 3-month high

Mortgage giant Freddie Mac said Thursday that the average rate for a 30-year fixed mortgage rose to 3.75% from 3.69% the previous week, that’s down from 4.9% at the same time last year. The average rate on a 15-year mortgage moved up to 3.18% from 3.15% a week ago. The average rate for five-year adjustable-rate mortgages rose to 3.4% from 3.15% last week.

Lower rates have helped reinvigorate the housing market, which stumbled last year. Sales of existing homes reached a 17-month high in August, though they fell modestly in September. New home sales jumped 15.5% in September from a year earlier.

Leer más (en inglés)

15 dormant buildings in Detroit awaiting life

Around the turn of the century, dozens of buildings with architectural significance in Detroit became vacant. So many, in fact, that it seemed unlikely that a meaningful number would ever be brought back to life. Detroit has demolished its share of buildings and seen plans that have failed to come to fruition. But more often of late, buildings have been redeveloped and ambitious projects are moving forward. Some of these seemed incredibly unlikely.

Leer más (en inglés)

Plans for Book Tower renovations include residential, office & retail space

According to Bedrock Detroit, New York-based design architecture firm ODA has been chosen to work on the 486,7600-square-foot structure. Restoration on the building’s exterior was recently completed, which included replacing 2,483 historically-accurate windows and the ornamental cornice complete with caryatid statues. Plans for the building include residential, hospitality, retail and office space in the 38-story building, Bedrock said.

Leer más (en inglés)

Detroit, una oportunidad en Estados Unidos

Hubo una decisión política y económica de hacer renacer la ciudad y se inyectaron miles de millones de dólares; se incentivó con beneficios fiscales la radicación de empresas tecnológicas como Google, Microsoft, LinkedIn, entre otras; y las automotrices volvieron a producir como en el pasado ampliando sus plantas.

Desde el punto de vista inmobiliario, Detroit se ha transformado en un destino de inversiones internacionales y hasta el momento, son muchos los argentinos que han invertido ya que encontraron una inversión conveniente y han logrado buenas rentabilidades.

Leer más (en inglés)

Detroit Tops List of Most Affordable U.S. Cities for Middle-Class

According to a new report from Redfin, a typical family in the San Francisco area would need to nearly triple their annual income to comfortably purchase a median-priced home. In stark contrast, the typical family in Detroit earns more than twice as much as they’d need to afford a median-priced home. A family in the Detroit metro would only need to earn $26,690 per year to purchase a home at the area’s median price point. That’s less than half of the area’s $56,339 median income, making it the most affordable metro.

Leer más (en inglés)

Home sales, prices in metro Detroit inch up in July

Median prices increased 2.8 percent to $225,406 in July from last year. City of Detroit saw 38.7 percent jump in year-over-year median sale prices. Number of homes on market in July rose 0.9 percent

Leer más (en inglés)

Report: Detroit apartment rents ahead of national norm

RealPage, a provider of software and data analytics to the real estate industry, reported that Detroit apartment occupancy is approaching a two-decade high.

According to the report, the upturn in Detroit occupancy mirrors a nationwide surge. Detroit’s occupancy, which stood at 97.5 percent, tied with New York’s rate as the highest occupancy among the nation’s largest markets.

Leer más (en inglés)

GOOGLE está creciendo en DETROIT

En Detroit, Google opera una oficina adjunta a la Little Caesars Arena, donde planea alquilar un piso extra. En total, la compañía agregará 90.000 pies cuadrados de espacio de oficinas en Michigan. En abril de este año, Waymo, una subsidiaria de Google en el campo automotriz, autónoma, anunció que fabricaría autos sin conductor en Detroit, en la antigua planta de American Axle & Manufacturing ubicada cerca de Hamtramck. La re-urbanización de 13,6 millones de dólares crearía hasta 400 empleos.

Leer más (en inglés)

93 millones de dólares más en bonos

Después de aprobar cientos de millones de dólares en incentivos fiscales en mayo para la expansión y modernización de las plantas de Fiat Chrysler Automobiles NV en el este de Detroit, la ciudad y su estado respaldan los incentivos adicionales de 92,9. millones de dólares. FCA planea reabrir su planta Mack II sin usar durante mucho tiempo y convertir la planta Mack I en motores de producción. El complejo expandido creará aproximadamente 3 850 trabajos con un salario promedio por hora de $19,25.

Leer más (en inglés)

Seven cities see home prices heating up again, according to S&P Case-Shiller

The seven cities with home prices seeing bigger annual gains are Los Angeles; San Diego; Washington, D.C.; Detroit; Minneapolis; Charlotte, North Carolina; and Cleveland. Nationally, home prices rose 3.4% annually in May, down from the 3.5% annual gain in April, according to the S&P CoreLogic Case-Shiller home price indices. The 10-city price composite rose 2.2%, down from 2.3% the month before. The 20-city composite showed a 2.4% annual gain, down from 2.5% in April.

Leer más (en inglés)