News

Flagstar Bank parent company splits shares to boost ailing stock price The parent company of Flagstar Bank raised its beaten-down stock price to a somewhat higher level Friday thanks to a financial facelift. The struggling New York Community Bancorp reverse-split its stock, meaning investors who owned 1,000 shares before now hold 333, although their overall stake didn’t…

North Corktown manufactured housing initiative moves forward despite some reservation A planned modular housing development in Detroit’s North Corktown neighborhood is moving forward, but myriad concerns remain from nearby residents.  The Gilbert Family Foundation, the philanthropic arm of Dan and Jennifer Gilbert, earlier this year announced Tomorrow’s Housing Innovation Showcase, or THIS, planned for vacant Detroit…

Fisher Body plant redevelopment gets $1M from state The ambitious plan to transform the old Fisher Body complex in Detroit into an apartment and mixed-use development received a $1 million boost from the state. The project, which began last month at the derelict factory near the I-75 and I-94 interchange, is being supported with grant…

Detroit launches $7M second round of down payment assistance Detroit Mayor Mike Duggan and other officials on Thursday officially rolled out the second round of down payment assistance for some would-be homebuyers in the city.  The second funding round was announced in December following a $12 million first round that city officials say was used to support 434…