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Development News

February development news round-up: Breweries, apartments, vacant lots, and more

A rendering of Detroit City FC's proposed renovations to Keyworth Stadium

It's been another busy month for development news in the city. Let's catch up on some of the biggest stories from the past four weeks.

Granite City opened its latest restaurant and brewery location in the Renaissance Center earlier this month. It's the largest location for the chain eatery and on-site brewery, which first opened in St. Cloud, Minnesota in 1999.

Financing for the Scott, a 199-unit apartment building in the Brush Park neighborhood, was finalized earlier this month. Two weeks after, the Scott announced that pre-leasing had begun. The building is set to open in the beginning of 2017.

In October 2015, Detroit Future City released a guidebook to help residents steward vacant lots in their neighborhood. This month, the DFC Implementation Office announced that it is splitting $65,000 among 15 grassroots organizations and individuals to help facilitate lot transformations as outlined in their guidebook.

A devastating fire wiped out the home of Reclaim Detroit in Highland Park. The fire, which could be seen miles away, decimated the company's operations, destroying much of its irreplaceable stock. Reclaim Detroit, which recovers re-usable materials from vacant buildings in Detroit, is currently holding an online fundraiser to help cushion the blow.

Five hundred and twenty-seven people invested a total of $741,250 in the renovation of Keyworth Stadium in Hamtramck. The new home for the Detroit City Football Club, Keyworth Stadium is 80 years old and in need of many repairs if it's to host DCFC as their home stadium in the years ahead. DCFC officials hoped to raise between $400,000 and $750,000 in their crowdfunding campaign.

The city revealed its Detroit Home Mortgage program this month. The mortgage program is a partnership between the city, the Obama Administration’s Detroit Federal Working Group, Clinton Global Initiative, local banks, foundations, and nonprofits. The program addresses the appraisal gap, a common hindrance to purchasing a home in the city. Now, banks will be able to make loans for the agreed upon selling price of a home and not just the appraisal number, which is often much lower than what a buyer agrees to pay.

Got a development news story to share? Email MJ Galbraith here or send him a tweet @mikegalbraith.

Read more articles by MJ Galbraith.

MJ Galbraith is Model D's development news editor. Follow him on Twitter @mikegalbraith.
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