Historic Detroit Landmark Buildings Renovated for Low Income Housing
USIG Staff - January 2017
A testament to the durability of Detroit’s architecture, the 100 year old Himelhoch Building will be getting a major facelift. The beautiful building located in the heart of downtown Detroit on Woodward avenue will be fully rehabbed to feature 36 market rate apartments and 36 low income senior housing units. Crains Detroit reports that American Community Developers is close to acquiring the building and will… Historic Detroit Landmark Buildings Renovated for Low Income Housing
Detroit Billionaires Gores and Gilbert Have until February 10 th to Submit Plans for New Stadium
USIG Staff - January 2017
The Wayne County Jail Site has been an eyesore in the Greektown district for over 2 years now. The site, originally slated to be the new of a new county jail, has been stalled for years now. However, local billionaires joined forces last year to announce they would be making a serious effort to acquire the site from the County to build a major stadium, even bigger than the Little Caesars arena being completed in Downtown. Tom Gores and Dan Gilbert are no strangers to the sports arena business. Gores is the owner of the Detroit Pistons and their current home, the Palace of Auburn… Detroit Billionaires Gores and Gilbert Have until February 10 th to Submit Plans for New Stadium
Detroit's Business Boom
USIG Staff - January 2017
The 7.2 square mile area known as “Greater Downtown” witnessed a boom of new business in 2016, primarily bars and restaurants, according to the Detroit News. This represents significant confidence in Downtown Detroit and its surrounding neighborhoods by developers and residents alike. Among the highlights of these new developments is the new Little Caesars arena which will serve as home to the Detroit Red Wings and Pistons. The massive project which is slated to cost around $400M is expected to bring a significant economic boost to downtown Detroit.
Housing… Detroit's Business Boom
CNN Money Says Detroit Real Estate Investments Make Money
USIG Staff - September 2014
CNN Money says that “Real estate investors are flocking to the city,” and it is for a good reason too! Research has shown that Detroit and its metropolitan area has the best return on investment in nearly 1600 counties. Detroit Real Estate has been very lucrative for many investors.
Investors who buy homes in the Detroit metro area can expect a 30% annual return from rents, according to RealtyTrac.
Detroit Gets ~$200 Million from State of Michigan
USIG Staff - July 2014
During the week of June 23rd, 2014, Michigan Governor Rick Snyder signed a series of bills that vouches $195 million to Detroit. This large amount of money will be a great contribution to getting the city out of bankruptcy. The bill was signed at the 122-year-old Detroit's Globe Trading Co. building that was once an auto manufacturing facility.
There are plans to revitalize the Globe Trading Co. building, which has been vacant for 20 years. After a $12.8 million investment from the State of Michigan, the building was converted into a the riverside park's recreation center (William G.… Detroit Gets ~$200 Million from State of Michigan
Chrysler Invests in Detroit metro: $63M to boost production at local stamping plant
USIG Staff - June 2014
A local Chrysler stamping plant is looking to expand its capacity by up to ~3.6 million parts a year. Mauri Pino, Chrysler’s VP of manufacturing, stated that their assembly plants’ production “has nearly tripled in the past five years” and this expansion will cost Chrysler 63 million U.S. dollars. The particular plant employs about 2,000 and has been operating for 65 years!
This is yet another investment that the automotive industry of the Motor City is making in Detroit. Chrysler, headquartered in suburban Detroit, is a global automotive company that is part of the international holding… Chrysler Invests in Detroit metro: $63M to boost production at local stamping plant
Mayor’s Office Says Property Taxes Will See a 5%-20% Decrease
USIG Staff - February 2014
Mayor Duggan recently announced that over the next three years, Detroit’s properties will be reassessed in an effort to accurately tax homes based on the true value. This is positive news for both primary homeowners and investors alike. Investors can enjoy the extra returns due to a lower yearly tax bill.
Crain’s Detroit Business Reports Detroit Home Sales “Up Sharply” in 2013 – 17.29% Increase
USIG Staff - January 2014
Across the U.S, home prices rose 13.6% - in Detroit, there was a 17.29% increase in prices from a year ago. This home price increase was “the most in more than seven years, signaling the real-estate rebound will keep bolstering household wealth in 2014” reports Crain’s.
Detroit Home prices, home values, and selling prices have been on the incline and economic development in the city has been coincided with the same trends. Metro Property Group has seen tremendous improvement in the Detroit Real Estate Market over the last few years. Foreclosure rates have continuously… Crain’s Detroit Business Reports Detroit Home Sales “Up Sharply” in 2013 – 17.29% Increase