News

Detroit’s credit rating hits investment grade for the first time since bankruptcy The city of Detroit’s credit rating has been returned to Investment Grade by Moody’s Investors Services for the first time in 15 years. The last time Detroit was considered Investment Grade was 2009, four years before the city declared bankruptcy. The two-notch upgrade…

Ilitch Sports + Entertainment names new CEO The Ilitch organization has promoted Ryan Gustafson to officially oversee its sports and entertainment business. Gustafson is the new president and CEO of Ilitch Sports + Entertainment, effective immediately, filling a role that had been vacant for a year following Chris McGowan’s departure, the company announced Monday. The move…

New Corktown bar to bring duckpin bowling and self-serve taps to Michigan Avenue A recent retiree is doing something a lot of people talk about but few actually do: Open a bar. Ron Moore and his wife Michele are investing $2.4 million into Corktown Taphouse inside the Perennial Corktown apartment complex at 1611 Michigan Ave. The bar…

Housing affordability in metro Detroit declines 70% in 4 years The income needed to afford purchasing a home in metro Detroit has increased by 70% in the last four years, according to a new report from online brokerage Zillow Group Inc. While Southeast Michigan remains the most affordable major metropolitan area in the country, per the Zillow…