Detroit City FC is officially going pro. The National Premier Soccer League said today that the club is among 11 that will form a new professional league that will begin play in the fall of 2020. In the interim, the league said the teams will play in the inaugural “NPSL Founders Cup” competition that will run from August to November 2019.
In its most basic form, blockchain makes it possible for the first time ever for people and companies to make major transactions without going through an intermediary. Intermediaries like credit card service companies, stock exchanges, banks and governments can make transactions expensive, slow and illiquid and may open opportunities for fraud or crime.
Jack Entertainment LLC, owned by Quicken Loans Inc. Chairman Dan Gilbert, reached an agreement late Tuesday to sell Greektown Casino-Hotel in downtown Detroit in a $1 billion deal. Wyomissing, Pa.-based gaming conglomerate Penn National Gaming Inc. and Vici Properties Inc. are the buyers of the 400-room hotel and casino.
Detroit is experiencing a construction boom that the city hasn’t seen in decades, with billions of dollars earmarked for projects that include Bedrock’s mixed-use development at the former Hudson’s site, Ford Motor Co.’s revitalization of the Michigan Central Station and the long-anticipated construction of the Gordie Howe International Bridge.
No other neighborhood in Detroit has as much residential development under construction or planned than Brush Park. The neighborhood between downtown and Midtown was once all but forgotten, with historic Victorian homes crumbling and vacant lots showing up as a backdrop for media coverage. Now, property values have increased drastically over the past few years, and new condos are selling for well over $500,000.
The Troy-based Kresge Foundation has committed $50 million to the “cradle-to-college” center planned for the Marygrove College campus in Detroit. The grant to the project, which also will expand the University of Michigan’s presence in Detroit, is the largest philanthropic commitment made by a foundation to any Detroit neighborhood. It will fund an effort two years in the making, including an early childhood education center led by Starfish Family Services set to open in fall 2020 and a UM-led residency teaching school modeled after a doctor residency program. UM President Mark Schlissel said the resident teaching school is believed to be the first of its kind in the country.
Google is celebrating the grand opening Thursday of its Detroit office at The Detroit District linked to Little Caesars Arena. As part of the grand opening, Google is expected to award $750,000 grant to a science, technology, engineering and math college prep program for underprivileged youth run out of Wayne State University. Google’s grant will fund 120 selected scholars and 300 other high school students with broader programming for three years.
Investors will best benefit from being aware of the issues and monitoring the results of initiatives on the ballot even if the voting is not happening in their state. Furthermore, understanding how election results may affect housing policy and the practical aspects of investing, such as the cost of labor and materials, provides investors with another “tool” for market analysis and strategic decision-making.
Public parks have received a lot of attention in Detroit lately, and while the city has many to celebrate, sometimes it’s a little too cold to sit outside. Where can we take a break and have a seat indoors?
As I continue to discover the power of passive real estate investing, I want to shout the benefits of multifamily investing from the rooftops.