Posts Categorized: Real Estate

Study Finds Detroit Demolitions May Have Curbed Crime Rates

According to a new study conducted by the University of Michigan and Harvard University, Detroit’s demolition program may have curbed crime rates and decreased firearm violence. First, some background: Thousands of houses in Detroit sat vacant and abandoned for years after their owners moved out to the suburbs or had their homes foreclosed. Many of… Read more »

Detroit to Receive $6M in Tax Credits for Low-Income Housing

Good news for affordable housing advocates in our area: on July 22, Michigan Governor Gretchen Whitmer and Detroit Mayor Mike Duggan announced that Detroit will receive over $6 million in tax credits for low-income housing. The credits will help finance more than $100 million in housing investments. The Michigan State Housing Development Authority (MSHDA) has… Read more »

Detroit City Council May Change Short-Term Rental Regulations

AirBnB hosts and renters take note: the Detroit City Council could make major changes to the city code to regulate short-term rentals. The council is considering a potential ordinance that would restrict the type and length of short-term rentals permitted in the city, as well is who is allowed to offer them. The ordinance is… Read more »

An Update on the City Planning Commission’s Rezoning Process

Zoning ordinances are important pieces of legislation that determine more than whether properties in different geographic zones can be used for residential or commercial purposes. They can also limit the size of lots or the heights of buildings and determine the density of districts or zones. In short, they can define the character of a… Read more »

Detroit Tops List of Cities With Largest Rent Hikes

Despite attempts from city officials to maintain a healthy inventory of affordable housing options in Detroit, many Motor City residents are devoting a larger share of their paychecks to rent payments than they were just a few years ago. That’s what financial tech company SmartAsset found in a recent report which compares household incomes to… Read more »

In 2018, Detroit’s Property Values Rose Across the Board

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 »

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 »