Michigan Commercial Real Estate News Brief: March 2018

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting Ohio markets, including Ann Arbor, Detroit and Grand Rapids.

Historic Retail Site Along Detroit’s Avenue of Fashion Gets a Makeover

Developer Matt Hessler recently broke ground on an $8.3 million redevelopment project on the site at Livernois and Seven Mile Road in Detroit—the site of the former B Siegel department store. While the former store undergoes renovations, approximately 20,500 square feet of commercial space and 10 multifamily units will be developed between within a two-story building along Steopel Street and Livernois.

In addition to the commercial retail and residential space, underground parking will also be available for tenants and visitors.

A Mix of Structures and Greenery Planned for Ann Arbor

The city of Ann Arbor is undergoing planning and new construction for both mixed-use developments and multifamily space. Redico LLC announced plans for its first apartment development for $26 million just north of Michigan Stadium. The developer is planning more than 160 apartment units, as well as six townhouses at Hoover and Green Avenues.

By the same token, a six-story mixed-use development has been proposed for the vacant site at 321 North Main Street. Plans include a mix of office and retail space spread between the first three floors, with the remaining space slated for apartments and condos.

Even with plenty of new construction taking place, Ann Arbor dwellers may soon also look forward to new green space. The city is finalizing plans to develop a 16-acre public nature area at the former North Oaks condominium site.

Mixed-Use Project Slated for Grand Rapids Suburb to Encourage Walkability, Connectivity

Developers announced plans for Hudson Center, a $4.2 million mixed-use development in Hudsonville in Grand Rapids. The three-story structure will include retail and restaurant space on the first floor, office space throughout the second and multifamily space on the third.

Developers and city planners envision the new structure being the first step into connecting many other single-story buildings in the Hudsonville area around a walkable plaza. Construction on Hudson Center is expected to be complete this August.

Image Credit: Wikimedia Commons