Here are a few of the stories we're following this week.
The current timeline for the Mid
Remember The Mid? The stalled development in Midtown held its Annual Update Meeting earlier this week and gave new details for its timeline and phases. Earlier plans called for a hotel in the first phase, but COVID has changed financing for those projects. Instead, the 300 co-living spaces are planned first in a high-rise on John R. The developers are planning on construction starting in the third quarter of 2022. The high-rise along Woodward with the hotel will be part of the second phase, with no current groundbreaking date. (Detroit Free Press)
Taxing Detroit's land speculators
Detroit land owners who've kept their lots vacant have had incentive to do so over the years: the taxes are cheap and increase if they develop the land. Could revising the city's tax code to a split rate tax help the problem? In this scenario, land and structures/improvements would be taxed at different rates, incentivizing development of land. If it passed, fewer would be buying vacant properties and the city and the Land Bank could end up with more vacant property. Let us know what you think about these ideas in the comments. (Outlier Media)
Grants available for neighborhood projects
The Kresge Innovative Projects: Detroit initiative awards grant funds to non-profits working on improving the quality of life in their neighborhoods. The program has awarded 127 grants totaling over $11 million since since 2014. The initiative expects to grant $3 million over the next three years. The application period is now open, and has expanded to include Highland Park and Hamtramck. (Model D)
Eminem's former home for sale
Who doesn't want an expansive estate in the suburbs once owned by Detroit's own Eminem? He owned the house from 2003-2017, but apparently didn't stay there often. The 17,000-square-foot Rochester estate is back on the market, with some updates, for $3,225,000. Included: tennis/basketball courts, a private pond, a pool, hot tub, and walking trails across six acres. (Century 21)
