Madison Heights
REAL ESTATE
Royal Oak OK’s controversial plan for low-cost apartments as residents rally against it
The debate continues across Michigan over "affordable housing": Where should there be more? And what should it look like? This week, ground zero for the tussle was Royal Oak, where a posse of residents tried to stop low-cost apartments from going up near their homes. On Sunday, they marched with signs outside a vacant bank building on Rochester Road, just south of 14 Mile, chanting their opposition to seeing the site razed, rezoned and turned into 42...
Detroit study highlights issues with heirs’ properties in specific neighborhoods
DETROIT – Owning a home can be life-changing not only for the homeowner but also for their descendants. Homes can be a mechanism to build generational wealth. “This is just not a home to lay your head down,” said Jeanine W., who has a home on Detroit’s east side that has been in her family for generations. “My daughter is now residing in her great-great grandmother’s bedroom. Who can say that.”
New Detroit apartments open near Michigan Central Station
For those eager to live near the rehabbed Michigan Central Station in Detroit, a new option just arrived. A newly constructed four-story and 78-unit apartment building, The Brooke on Bagley, situated behind the redeveloped train station at 2420 Bagley St., near the intersection of the Corktown and Mexicantown neighborhoods, celebrated its grand opening...
Hazel Park’s budget reflects higher home values, development
HAZEL PARK — The Hazel Park City Council recently approved a budget for the 2024-25 fiscal year that features a slightly lower city tax rate yet higher revenues due to growing property values and increased development around town. The budget was unanimously approved May 14 and clocks in at...
Detroit House Hunting: Owner-occupied house in East English Village
This three-bedroom home in East English Village is an intriguing alternative to the many flipped houses on the market in this price range.The big picture: Flipped homes look modern and clean, but it can be hard to tell how well the renovations will hold up against everyday living.The owner of this house has lived in it for five years, listing agent John Lambrecht tells Axios in this installment of our recurring local real estate spotlight.What they're saying: "This house has been cared for," Lambrecht says. It has "the most impressive breakfast nook you've ever been in."5990 Bishop St., $219,000 The hardwood floors and unique woodwork inside 5990 Bishop St.State of play: East English Village is known for its historic character, active community groups, proximity to I-94 and east-side shops and restaurants.The 1,858-square-foot house has three bedrooms, 1.5 baths, a detached garage and a new HVAC system and furnace.It features hardwood floors, custom woodwork and a cathedral ceiling over the breakfast nook.📬 Have you bought or considered buying a flipped house? What advice would you give? What do you wish you knew?Email Detroit@axios.com to let us know.
The Dirt: Metro Detroit has one of most inflated housing markets in U.S., report says
Federal prosecutors revealed shocking details in their case against William Smith of the Detroit RiverFront Conservancy. Elsewhere, home prices in metro Detroit may be inflated — by a lot. The Dirt: Metro Detroit has one of most inflated housing markets in U.S., report says · Outlier Media
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