A Capitol Park building that went up for sale last summer was purchased late last year by Dan Gilbert’s Bedrock, according to Crain’s. O’Connor Real Estate listed the six-story Herman and Ben Marks Furs Building for $4,300,000 in June. It’s one of the last buildings that will be renovated in Capitol Park, which has completely transformed over the past six years. Crain’s reports that the building sold for $3.85 million.
Over the next few years, a 31.5-mile bike and pedestrian greenway will connect many neighborhoods in the city, including Highland Park and Hamtramck. Named after boxing legend Joe Louis, the greenway will include existing paths and bike lanes, along with new greenways.
New Microsoft-built tools, software and coursework ideas are coming to Wayne State through a partnership with the Redmond, Wash.-based tech giant. The public university based in Midtown Detroit is among 10-12 institutions Microsoft expects to participate in a pilot program. Wayne States is among the first to officially join.
Real estate is an industry that is always in a state of flux. As such, it is imperative that entrepreneurs keep up to date with current best practices, market shifts, cutting-edge technologies and new opportunities. These factors can significantly impact a business’ success, especially as the new year begins.
The Michigan Central Station Winter Festival will run from January 18-27, to coincide with the auto show. Ford will have a 3D light show cast on the building three times an hour to show the past, present, and future of the iconic building. A large tent will be set up with vendor and activities, including a selection of artifacts recovered from the building. Food trucks and drink options will also be on hand.
Yes, apartments are still a good investment, but for more fundamental reasons than during the past eight years. What I mean by this is apartments have always been a good investment. Unlike other commercial real estate investments, apartments are tied much more to residential trends and demographics.
You will soon be able to party on the Detroit River in an actual tiki bar. The same people who brought you Detroit Pedal Pub and Detroit Cycle Boat are bringing you tiki bar boat tours.
The building that housed Cheli’s Chili Bar at 47 E. Adams Ave. for over 14 years sold to the Ilitches last month for $4.1 million. The building sits across from Comerica Park and down the street from Little Caesars Arena. Former Detroit Red Wings start Chris Chelios bought the building in 2005 for $1.25 million.
The Detroit auto show is less than one week away. This year’s show marks the end of an era and a major anniversary as Detroiters prepare to say their farewells to winter treks for auto shows at Cobo Center ahead of the switch to a June auto show in 2020, which has been promised as a one-of-a-kind auto experience.
While many construction projects in Detroit are set to finish in 2020 or beyond, some big developments will open in the coming year. While much of the development in the city over the past five years has been in downtown and Midtown, this should be a big year for developments in New Center and Corktown. Here’s a few we’re keeping an eye on.