A citywide reassessment has revealed double-digit increases in property values throughout Detroit, according to Mayor Mike Duggan’s office. Commercial property values, for example, rose a whopping 35 percent between 2017 and 2018 to an overall value of $4.5 billion. Meanwhile, industrial property values in the city increased by 18 percent during the same period as… Read more »
Posts By: Aaron Cox
Proposal 1 and Landlord, Tenant Rights in Michigan
Following the approval of Proposal 1 in November, Michigan has become the first state in the Midwest where residents can legally grow and use recreational marijuana. Under the terms of the new legislation, anyone age 21 and older can possess up to 2.5 ounces of marijuana on their person and have up to 12 plants… Read more »
Detroit Rent Prices are Rising but Remain Comparatively Affordable
Just a few years ago, an attractive rental price in Downtown Detroit was around $2 per square foot. Today, rental prices in the same neighborhoods are trending closer to $3 per foot, according to a recent market report published in Curbed Detroit. This report, which was conducted by Broder & Sachse Real Estate, found that… Read more »
Detroit May Require Annual Tenant Rosters From Landlords
In hopes of identifying income-tax evaders, Detroit officials are considering the passage of a new law which would compel landlords to hand over their tenant rosters to the city’s tax compliance branch each year. The proposed regulation would reportedly be focused on rental properties in Downtown and Midtown Detroit with monthly rental rates of $750… Read more »
Investigation Finds Uneven Lead Paint Enforcement in Detroit
Exposure to dust from deteriorating lead paint is becoming an increasingly pressing public health issue in Detroit, with lead poisoning cases among young children spiking by 28% in 2016. Lead poisoning tends to be particularly prevalent in the city’s low-income neighborhoods, where many older homes haven’t been renovated since lead-based paint was banned in the… Read more »
Mayor Duggan Announces $250 Million Affordable Housing Fund
Detroit city officials are employing new strategies in an effort to protect affordable housing availability in neighborhoods throughout the city. Earlier this year, for example, the director of Detroit’s Housing and Revitalization Department announced that the city would offer special tax incentives to developers who include affordable housing units in their construction and rehab projects…. Read more »
Detroit Housing Values Increase for the First Time in 17 Years
City officials have been working hard to facilitate renewed growth in parts of Detroit that lay neglected for years, and the fruits of their labor may finally be starting to show. Historic neighborhoods are being revitalized by their residents, and developers are constructing new affordable housing options downtown. There’s still plenty of work to be… Read more »
A Brief Explanation of Legal Eviction Procedures in Michigan
Having to evict a tenant is a position that no landlord wants to be in, but that every landlord should be prepared for. In the event that you need to evict a client, it may be important for you to move fast in order to prevent further damage to your property. This means that you… Read more »
Detroit Offers Tax Breaks to Affordable Housing Developers
In recent years, it’s become fairly common to hear local officials and journalists talk about the idea of a “renaissance” in Detroit. It’s true that downtown Detroit is undergoing some very positive changes, but sometimes urban renewal can have unintended negative consequences on a city’s most vulnerable residents. In San Francisco, for example, rapid commercial… Read more »
Historic Midtown Apartment Building Undergoes Renovations
Another historic building in Midtown Detroit is getting a new lease on life thanks to a multi-million dollar investment from its new owners. The former Milner Arms apartment building, now known as The Hamilton, is currently in the process of undergoing a $12 million renovation that is scheduled to be complete in the fall of… Read more »