housing and urban development

Economy
12:46 pm
Tue July 23, 2013

$60 million redevelopment project to add housing to Detroit's riverfront

Area to be redeveloped, near Atwater and Riopelle St.
Google maps

In the last week, there have been a slew of worrisome reports coming out of Detroit, but here’s one that’s more optimistic.

Despite Detroit’s recent filing for bankruptcy, McCormack Baron Salazar, a developer from St. Louis, has proposed a $60 million project that would redevelop a stretch of the riverfront east of the Renaissance Center.

Read more
Economy
2:46 pm
Tue July 3, 2012

Feds to auction Lafayette Towers in Detroit

Mies van der Rohe Residential District. The foreclosed Lafayette Towers, seen on the right, will be auctioned off later this month.
user Mikerussell Wikimedia Commons

The Detroit landmark Lafayette Towers has fallen into foreclosure and is set to be auctioned by federal authorities in two weeks.

The Detroit News says financial details were not immediately available in the notice posted by the U.S. Dept. of Housing and Urban Development.

Successful bidders on the luxury high-rise will need to post more than $2.5 million in escrow for an estimated $10 million in repairs required to be completed in 18 months.

The apartment towers were constructed in the 1960s. The two 22-story, river-view buildings contain 584 units located on nearly 10 acres in the Mies van der Rohe Residential District.

The auction is set for 10 a.m. July 18 in the first floor of the Coleman A. Young Municipal Center.

Lansing
1:01 am
Mon September 26, 2011

Oliver Towers saga moves to Lansing City Council chambers

Lansing mayor Virg Bernero (left) sits with Davenport University president Richard Pappas at a news conference discussing the proposed land swap. The Oliver Towers stands in the background.
(photo by Steve Carmody/Michigan Radio)

Tonight, the Lansing City Council will begin weighing in on a  land swap deal that’s pitted two local colleges against each other.    A final council decision may come next month.

 Officials with Lansing Community College have been complaining that they didn’t get a chance to bid on the Old Oliver Towers apartment building before city officials cut a deal with Davenport University. 

Read more