Here are a few of the stories we're reading this week.
A lot of $$ for the lots
Hundreds of thousands of people will be in Detroit in April for the NFL Draft. While it's too late to take on major improvements, we'll see some cosmetic upgrades in the next couple months. Case in point - the Downtown Development Authority and the city are working on repairing light poles, painting People Mover stations, and making our vast array of surface parking lots a little prettier. Lot owners can apply for reimbursement from a list of upgrades, including planters. The $900,000 is coming from tax increment financing (TIF), which is from property taxes. Outlier Media
Also from Outlier, a look at the history and current state of the Rackham Building, which is due for some updates.
Where property value is rising in Detroit
Last month, Mayor Mike Duggan announced the rising property values across the city. Where have they risen the most? Crain's reports that three neighborhoods stand out: New Center, Delray, and Banglatown. While the sale price of properties has increased, it's important to note that there were very few sales in some of these areas. But they are neighborhoods with increased investment, including the Henry Ford Health project in New Center, the Gordie Howe International Bridge in Delray, and Banglatown, adjacent to Hamtramck, has many immigrants settling there. Crain's Detroit Business
You hate to see it
The Maple Theater in Bloomfield Township is now closed. The lease expired and the owners chose not to renew. It was open for over 40 years and often showed films that weren't showing in the larger theaters. This is another blow to independent theaters in metro Detroit, as we've lost the Main Art Theatre in Royal Oak and Cinema Detroit's midtown location in the past few years. Detroit News
