Crain's Detroit Business

The Phoenix Center is coming down to make way for a farmers market, hotel, townhomes and more.

Capping the entire stretch of I-75 isn't feasible — but three smaller lids might be.

Downtown Pontiac's development drought could be coming to an end.

A tough-to-sell castle in northern Oakland County finally made the jump to “sold,” albeit at a steep discount compared to the asking price. The 10,790-square-foot home in Oakland Township had been on and off the market for years, including in early 2023 when it was relisted for $2.5 million. The castle and 6-acre property sold earlier this month for $1.6 million, a 36% discount from that asking price. Still, seller Brent Gatecliff said he felt comfortable with the buyer and the terms of the sale were appropriate. Gatecliff owned the property for just more than seven years, having accepted it as collateral for a loan that didn't work out. The home, which Gatecliff never spent a night in, cost about $10 million to build in 1990. Interest in the property was considerable, according to listing agent Dylan Tent with the Northville office of Sotheby's. All told, there were around 120 showings and interest from professional athletes and a “Netflix magician,” Tent said. Read more from Nick Manes: https://lnkd.in/gzngTYbx

Demolition of the Phoenix Center parking garage and amphitheater should begin by January as Oakland County, Michigan Government enters a 30-day negotiation period with a development team that includes Boji Group, Walbridge, Cinnaire, Krieger Klatt Architects, Inc and Rich & Associates Parking Consultants to implement a $250 million-plus public/private vision for a downtown Pontiac campus. Included: A 100-key hotel, a 120-unit apartment development, 48 townhomes, a 24,000-square-foot enclosed farmer's market, a 1,300-space parking deck and a 3.4-acre public park to go along with the county's plan to move 700 employees across multiple departments to 31 Judson. More details here in Crain's Detroit Business this morning https://lnkd.in/einVRjrS

A new development proposal for the Belle Isle Boathouse would create a new welcome center for the Detroit River island, opening it to the public with a new, public marina and boating options, restaurants, restored event space and expanded areas for nonprofit rowing and sailing programs. “After more than 100 years as a ‘private’ club, the boathouse will be a stopping point for all visitors to the island,” the plan’s developer says in the plan, dubbed the Belle Isle Gateway at the Detroit Boathouse. For more: https://lnkd.in/gj8THp2a Via Crain's Detroit Business

A proposed passenger train to Traverse City is getting another look — and Whitmer's office is watching.

The shuttered boathouse could reopen as a public destination after more than 100 years as a private club.

The owner of seven years never spent a night in the house, having accepted it as collateral for a loan that didn't pan out.

The former Fisher body plant, long blighted and hulking over the I-94/I-75 interchange in Detroit, got a big boost from the state this week as the structure undergoes a redevelopment into housing and other uses. https://lnkd.in/gqYHSeSR