A new hotel is on its way to downtown Detroit complete with new dining options. Choice Hotels International plans to open a Cambria Hotel in Detroit at 600 W. Lafayette Blvd.
A pair of local developers has scooped up a block of buildings in Milwaukee Junction for $4.5 million with the intention of investing $20 million into mixed-use redevelopment there.
Method Development LLC said it plans to convert five industrial buildings totaling 101,000 square feet into dozens of residential units and several ground-floor retail shops.
The Wayne State University Board of Governors approved Wednesday a long-term lease of the to-be-decommissioned Bonstelle Theatre as part of Detroit-based developer The Roxbury Group’s planned West Elm hotel project.
David Di Rita, principal of Roxbury, said the 45-year lease also includes a number of options to renew and that the property would be renovated and restored with things like updated HVAC systems and interior, auditorium and finishes. A specific budget for the theater renovation project has not been calculated, but the overall effort to restore it and construct the West Elm hotel on Woodward Avenue on the edge of Midtown and Brush Park is expected to cost $50 million
The North American International Auto Show has been held in Detroit annually for over 30 years. Aside from a few others, conferences or events that attract a large national audience hadn’t been very common in Detroit—until recently.
Let’s be honest: Real estate valuations are very high today. But worries of an impending housing crash are premature. There are many trends that could continue to drive real estate values. A millennial middle class hungry for the independence of owning a home and a reasonable economy outweigh housing indicators that might signal a downturn is imminent. That doesn’t mean U.S. real estate markets are not in a pivotal phase. In fact, 2019 is poised to create significant opportunity for those who understand the five significant economic and demographic trends driving the market. Let’s consider the following five trends.
Engineers, civil rights leaders and science-minded teens will be among the thousands of visitors who converge on metro Detroit this year for conventions — yet another a sign of momentum in a resurgent downtown.
Real estate prices shifted into overdrive in historic Corktown and surrounding neighborhoods as soon as news leaked that Ford Motor Co. wanted to buy the long-dead Michigan Central Depot. And they show no sign of slowing a year later, according to public property records.
If you’ve built up a nice nest egg yourself and are wondering what to do when the next crash comes, how to position yourself for a boom or a bust or where to look to find a solid real estate investment deal, remember to keep it simple and pay close attention to these three basic concepts
In spite of warnings about late cycles and rising interest rates, 2018 was a record year for real estate investment, and 2019 is likely to match it.
This is a good time to get out and start investing in real estate. Roll up your sleeves, and get to work as an active investor, or more passively through private lenders. To help you make an informed decision, below are some of the key changes in federal rules that make investing in real estate even more attractive