Blog
Developer purchases more of the Detroit riverfront next to Joe Louis Arena site The Torgows have expanded their footprint next to the Joe Louis Arena site. Last month, an affiliate of the family’s Detroit-based Sterling Group development company paid an estimated $5.5 million for more than three acres of west Detroit riverfront land from Detroit…
Duggan’s PILOT proposal for affordable housing a ‘big win,’ developer says Mayor Mike Duggan has a clear goal in mind when it comes to housing in Detroit. “We are, I think, going to become the easiest place in Michigan to build affordable housing,” Duggan said Thursday morning during a discussion as part of the annual…
Mortgage rates continue to drop, stoking housing optimism Mortgage rates continued their decline, hitting the lowest level since early February 2023. The average for a 30-year, fixed loan was 6.09%, down from 6.2% last week, Freddie Mac said in a statement Thursday. Borrowing costs have fallen significantly in recent weeks in anticipation of interest-rate cuts by…
Affordable housing development shapes vacant duplexes into 20 new units Unlivable, vacant houses in Detroit’s Virginia Park neighborhood will be revitalized to provide what the city needs: affordable housing. In a $3.9 million development project, the West Euclid Gateway development will see eight duplexes and one four-plex revamped into 20 units of multi-family housing. The…
Owning a home is a keystone of wealth… both financial affluence and emotional security.