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Large Pontiac development led by Mr. Alan’s founder gets $79.2M in incentives A large proposed mixed-use project on the outskirts of downtown Pontiac has taken a major step forward in its financing. The Michigan Strategic Fund has given its blessing to a $79.2 million transformational brownfield program package for The Exchange, a nearly $106 million…

Dearborn hotel’s new owner wants to turn most of it into apartments New year, new owner, new plan. The former Dearborn Hyatt Regency’s new ownership has a vision to turn the 18-story tower nestled between the city’s two downtown districts into a combination of apartments and hotel rooms. Ghassan Abdelnour of Farmington Hills-based GAV & Associates Inc….

Pistons-affiliated housing development among 3 in Detroit awarded tax credits Three Detroit housing developments — including a unique collaboration between Henry Ford Health and the Detroit Pistons — received federal tax credit awards aimed at ensuring affordability for years to come.   Gov. Gretchen Whitmer in a Wednesday afternoon news release outlined the twice-annual allocation…

Mortgage interest rates dip, keeping 30-year loans below 7% Mortgage rates in the U.S. dropped for a second straight week. The average for 30-year loans was 6.95%, down from 6.96% last week, Freddie Mac said in a statement. House hunters have gotten a smidge of relief after borrowing costs topped 7% earlier this month. Stability…