Michigan Markets Commercial Real Estate News Brief: September 2017

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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 Michigan markets to keep you in-the-know.

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Downtown Detroit’s Little Caesars Arena Opens to Public

Photo Credit: City of Detroit

After a period of construction and anticipation, the new Little Caesars Arena opened to the public for its first open house and event. The new arena is set to become one of Detroit’s main entertainment staples, as it will house the Detroit Red Wings games among other large-scale events.

The arena is just one aspect of District Detroit, which will include 50 blocks worth of sports and entertainment venues, restaurants, bars and business buildings once completed. Take a look at Curbed Detroit’s photo gallery of the Little Caesars Arena for a closer look at the venue.

Related: Download the Q2 Detroit Office Report or Q2 Industrial Report

Plans Revealed for New Urban Development Site in Grand Rapids

A group of partners in Grand Rapids revealed plans for its $40 million neighborhood development called Plaza Roosevelt, which is expected to begin construction as soon as summer 2018. The included partner organizations created the site plan to improve health, education and economic opportunities, as well as provide affordable housing.

Development plans for Plaza Roosevelt include the following:

  • A new Grand Rapids Public Schools high school
  • New pre-school classrooms
  • Communal gathering spaces
  • A 5,000-square-foot expansion of Mercy Health Saint Mary’s Clinica Santa Maria
  • Expanded arts and cultural programming through Grandville Avenue Arts & Humanities
  • Nearly 45 rental units and 19 affordable single and multi-family residences

Plaza Roosevelt will be located along Grandville Avenue between Graham and North on 5 acres of land.

Related: Download the Q2 Grand Rapids Office Report or Q2 Industrial Report

$7 Million Infrastructure Renovation Unveiled in Ann Arbor

The city of Ann Arbor and the Downtown Development Authority announced to the public its plans for $7 million improvements the streetscape along Fifth Avenue and Detroit Street. The project will focus heavily on fixing the bumpy streets and enhancing the safety of pedestrians near the Farmers Market, Kerrytown Market and Community High School.

More specifically, the renovation includes “roadway construction, underground utility upgrades and replacement, crosswalk improvement and reconfiguration, restoration of the historic brick street, lighting improvements, new trees and sidewalk replacements,” according to Mlive.

Construction is expected to last from April through November 2018. Read more about the city’s pilot study and project details here.