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Real Estate Transactions Archives

Hearing scheduled to decide Michigan city zoning

The Houghton City Council has scheduled two hearings to discuss issues that have arisen with regard to an apartment complex that a developer wishes to build on the site of the former Good Will Farm. The developer seeks to build a 138-bedroom apartment complex. However, zoning issues have caused delays.

Residential REITs may be worthwhile investments

Michigan investors may continue to find real estate investment trusts attractive when it comes to long-term income. This is spite of the fact that mid-2013 interest rates had been taking a bigger bite of commercial real estate prices than in earlier months.

Michigan planning commission okays church expansion

The Dearborn Planning Commission approved the expansion of the new St. Kateri Tekakwitha Catholic Church on Rotunda Drive on Oct. 7. The expansion plan calls for a new meeting hall, office space, restrooms and an enlarged parking lot. The new lot on the east side will also have a driveway onto Lindenwood Drive, while the old lot maintains its driveway onto Rotunda. The proposal was unanimously approved by the Commission with six votes and three absent.

Company hoping to rezone historic Michigan neighborhood

The owners of NEW Life Enterprises are hoping to build a new garment-making factory in the north side of Flint. Expected to create 100 jobs, the proposed development project could potentially help to revitalize the Civic Park Neighborhood. Before the project can get underway, however, there are a few zoning issues that will need to be dealt with.

Magic Johnson wants to buy Michigan State Fairgrounds

Basketball star Magic Johnson and a team of other investors are seeking permission to buy and redevelop the abandoned Michigan State Fairgrounds in Detroit. This real estate transaction could be approved by the Michigan Land Bank Fast Track Authority in the near future. Johnson and his co-developers plan to utilize the land for a movie theater complex and big-box retail stores.

Did Michigan suffer commercial real estate bust?

In the wake of the wave of foreclosures that affected homeowners in Michigan and across the country, some analysts predicted a similar crash would hit the business market. However, although commercial real estate prices did fall by about 40 percent, a disaster such as that suffered by the housing market never materialized. Experts investigated why this would be and came to some interesting conclusions.

New development adds value in Auburn Hills

A Michigan real-estate development company, Moceri Cos., will start work on a $46 million residential development in Auburn Hills during the spring of 2014. The project is expected to include 76 townhomes, 72 flats, a 160-unit center for housing for the elderly and a 2-acre public park. The homes are anticipated to be worth about $75 million upon completion. The construction is scheduled to be done in five phases so that the development will be finished by 2017, and no zoning issues are anticipated.

City finds interesting way of getting rid of unwanted store

For people here in Oakland County, we know that our cities may not always approve of the businesses that set up shop here. In some cases, it's because they're too large and take business away from the mom-and-pop stores we hold so dear. In other cases it's because of the unsavory crowds that a businesses might attract. While on rare occasions, such as the example out of Minnesota this month, it's because of shifting moral views within the community.

What are experts saying about Michigan's real estate market?

Since the housing market bubble burst, Michigan's own real estate maket has suffered greatly and taken almost a year before showing any signs of recovery.  But now with it on the slow climb back up, some real estate experts think the recovery could be short lived if banks and homeowners can't get on the same page.

Muskegon native sets sights on sand mine for future properties

James Konecny had lived in Northern Michigan all his life, but a chance job opportunity took him and his family away from an area he always promised to return to.  While searching for a vacation property recently though he found something even better: an investment.

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