LANSING, Mich.—Today, Governor Gretchen Whitmer and the Michigan Department of Labor and Economic Opportunity (LEO) awarded Helmets to Hardhats a $250,000 grant to support the Michigan Construction Apprenticeship post-Military Opportunity (MiCAMO) Program that will...
Contractors Find New Ways to Cope With Elevated Lumber Prices
Although material price fluctuations have wreaked havoc on construction, labor has become the dominant source in driving costs, experts say. U.S. commercial and residential builders breathed a sigh of relief last month when softwood lumber prices dropped more than 30%...
Bricks Return With Style in New High-End Buildings
Masonry is having a moment. Perhaps it’s a symptom of glass tower fatigue, perhaps it can be attributed to a desire for a building material that has warmth and texture. Or maybe it’s the hard pull of nostalgia. Around the city, in TriBeCa, Chelsea, Brooklyn and...
Louis Vuitton Store at Somerset Collection to Unveil Expansion Friday
The Louis Vuitton store at the Somerset Collection in Troy will unveil its newly expanded space on Friday, Oct. 15, which will feature women’s and men’s ready-to-wear, watches and jewelry, and a VIP room. The new space will join added selections of women’s and men’s...
Developer Targets Second Phase of West Village Neighborhood Development
Four years after opening the first $4 million phase of The Coe, a joint venture between Detroit-based developer Woodborn Partners LLC and Detroit-based North Coast Partners LLC has its eyes on a second phase next to it. The second phase would be substantially larger...
New Research Shows Design-Build Growth Continues Despite Market Challenges
When researchers at FMI Corporation first looked at design-build utilization in 2018, the news confirmed what many in the industry knew first-hand, design-build wasn't an "alternative delivery process" anymore. New market analysis forecasting the next five years,...
Downtown Detroit Synagogue to get $4.5 Million Renovation
The synagogue with colorful windows in Detroit's Capitol Park neighborhood is expected to get a big renovation. The Isaac Agree Downtown Synagogue at 1445-1457 Griswold St. is targeted for an overhaul to every floor, including opening up the first-floor facade, a new...
Automotive ‘Country Club’ in the Works for Howell Site
A racecar-loving father-and-son business duo are moving forward with an ambitious plan to bring a multimillion-dollar automotive country club and garage development to a 270-acre site owned by the city of Howell. The project, Motorsports Gateway, calls for 67 private...
Can’t tell the difference between Detroit’s new apartment buildings? Here’s why
For the first time in a while, Detroit is seeing a lot of new construction instead of rehabs or demolition. But in many cases, these buildings tend to look fairly similar. Whether among Corktown’s turn-of-the-century Victorian homes, nestled between the stately...
5 Construction Strategies for Retailers in a Post-COVID World
The extent of the pandemic’s effects on retail spaces may not be fully realized for months or years, but we are certainly in the midst of new beginnings for the retail experience. More than ever before, retailers must now consider their clients’ emotions, physical...
Energy Efficiency as a Service Gaining Ground as Financing Approach for Adopting Innovations
In recent years, innovations in energy efficiency technology has opened many new avenues to reduce electric consumption in buildings. But it is hard for building owners to keep up with these developments, analyze which options are most cost effective, and decide how...
Seeking Reliable Real Estate Businesses, Investors Give Laundromats A Spin
Coin laundries have long been one of the few recession-proof businesses. After all, we all need to do laundry. There's debate as to whether the recession-proof nature applies even during a pandemic. But it's not deterring some from opening new laundromats, at a time...
Swiss Running Shoe Brand On Opens First Store in NYC
A Swiss sneaker brand that counts Roger Federer among its investors is opening its first store ever on Wednesday in lower Manhattan. On, whose running shoes sell for about $150 to $200 a pair, has made its shoes available in Nordstrom, REI, JackRabbit and other...
Modular Construction Meets Changing Needs in the Pandemic
When the University of Denver reopened for classes this fall, there was a new building on campus next to the student athletics center: a coronavirus testing center created using modular construction. Students and staff can either walk up or drive up to have their...
Bed Bath & Beyond Sells Cost Plus World Market
Bed Bath & Beyond Inc. BBBY, -1.14% announced Monday that it has entered into a definitive agreement to sell Cost Plus World Market for an undisclosed amount to Los Angeles-based private-equity firm Kingswood Capital Management. The deal includes 243...
‘This Too Shall Pass’: 43 Real Estate Execs On The Biggest Lessons Of 2020
The last 280 days of the coronavirus pandemic have been unprecedented, unimaginable and tragic in countless ways. From an economic perspective, where we work, where we eat, where we shop — where we do anything — is still mostly in flux. It’s anyone’s guess what will...
Embracing the World of Outdoor Workspaces
The pandemic has permanently changed the way commercial buildings look and function—and the change went beyond their edges and layouts. Landlords, developers, architects and property managers are now observing and analyzing the way office users engage with the...
Public Storage Expands With $528M Portfolio Acquisition
Public Storage has acquired 24 properties with 2.3 million square feet of space from Beyond Self Storage in the first phase of a 36-property portfolio transaction totaling 3.6 million square feet and valued at $528 million. The first phase includes existing properties...
Hospitality Brands Build Back With Customer-Centric Tech
While the hospitality sector awaits another COVID-19 stimulus bill, creativity is in high demand because hotel brands that continue to engage guests in unexpected ways with new and relevant services—even when they are staying at home—will emerge from the pandemic...
Self Storage Rents Continue Strong Rebound
Self storage continued to prove its resilient nature in October, with significant improvement in street rate performance across the U.S. On a year-over-year basis, street-rate rents increased 2.7 percent for the average 10×10 non-climate-controlled and 0.8 percent for...
Apartment Investors Mull Opportunities in Distressed Malls
Apartment dealmakers may find an opportunity to build new apartments around the shells of under-performing or empty regional malls. Hundreds of troubled shopping malls may be seized by lenders over the next year, experts say. “In the current market with the pandemic,...
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