After the demise of new developments during the recession, blueprints for major construction projects are getting the green light again throughout the Detroit region. Crain's Detroit
has a regional survey of what's in the pipeline.
"There are 23 proposed industrial construction projects of 100,000 square feet or more in metro Detroit, according to CoStar.
"Fifteen to 20 percent of our business is now construction money," said Dennis Bernard, founder and president of commercial mortgage broker Southfield-based Bernard Financial Group Inc. "It was never that big."
...In addition to new office construction, several major mixed-use projects are also on the horizon, many of them in the city of Detroit.
There is the redevelopment, also by Redico, and the Magic Plus LLC investment group of the former Michigan State Fairgrounds site at 8 Mile Road and Woodward Avenue, a mixed-use project valued at about $150 million."