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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…
Dan Gilbert’s new ‘fail jail’ plan would bring a 5-story medical research hub to Detroit Dan Gilbert’s real estate company is planning a new life sciences building on a large vacant development site on Gratiot Avenue at the eastern edge of downtown Detroit. This marks the first time building details have been revealed under the…
Owning a home is a keystone of wealth… both financial affluence and emotional security.