Urban Living Update Blog - Living in Detroit

Urban Living Update Moves to WordPress

2009-02-22T21:23:00.004-05:00

As of today, the Urban Living Update Blog has moved to WordPress... You can find the latest in Detroit living by visiting http://www.urbanlivingupdate.com.

Roast: 2009 Detroit Free Press Restaurant of the Year

2009-02-08T08:38:00.004-05:00

Michael Symon's Roast heats up Detroit

By Sylvia Rector | Free Press Restaurant Critic | February 8, 2009

When you visit Michael Symon's Roast at the Westin Book Cadillac Detroit, order the ethereal beef cheek pierogi. The luscious, ivory-colored pillows are stuffed with rich, dark brown beef so intensely delicious and tender, you may well crave them days later.

It's one of Symon's signature dishes. And as much as anything on Roast's menu, it tells you about his Midwestern roots, his deceptively sophisticated cuisine and the accessible but upscale attitude that makes his restaurant so appealing.

The Cleveland-born chef and Food Network star describes the restaurant as "a meat house -- a steak house plus."

That's enough to entice most diners. But it's the combination of excellence, atmosphere, attitude and price that sets it apart.

It's a kitchen where only the best ingredients -- from the right firewood to the perfect suckling pigs -- will do. It's a white-tablecloth dining room where jean-clad guests are welcome. Where the intriguing chef-driven menu is so approachable, anyone will feel comfortable ordering. And where budget-conscious food-lovers can still afford to dine.

Roast wasn't meant to appeal only to connoisseurs or the wealthy. It's a destination dining spot designed to include the proverbial Everyman. In these times, that alone might earn it honors as Restaurant of the Year.

But what seals the deal is behind the scenes: the underlying quality of its kitchen, the values it brings to Detroit and the aspirations it shares for the city.

Twenty people, from dishwashers to sous chefs, work with executive chef Jeff Rose in Roast's open kitchen, where mankind's first cooking tool -- fire -- still commands center stage.

Fire licks the back of the wood-burning oven. Fire glows in the mesquite and hardwood charcoal that fuels the custom-built, 6-foot-long grill where steaks are cooked. And fire slowly roasts the Beast of the Day -- a whole suckling pig, young goat or baby lamb that will cook for 6 to 10 hours in the open stainless steel rotisserie beside the dining room.

It's an unexpected focal point. But everyone at least steals a glance at it from across the room, and many order the beast as an entrée or shared starter.

"Guests love it. ... During the weekends, we'll do two a day," says Rose, 35, of Royal Oak as he checks the 20-pound suckling pig roasting on a Thursday for Friday's menu. Pig is the most popular, followed by goat.

Rose buys the animals, and virtually everything else, from sources he knows -- the closer to home, the better. After years as a chef at top area restaurants including Tribute, Iridescence and Big Rock Chophouse, he knows "just about everybody," he says.

"We try to do as much farm-to-table as we possibly can. Being in the middle of the city makes it tough, but we're involved with the Greening of Detroit project" to encourage farming on vacant land within the city. "Hopefully, we'll be one of the first ones to get produce from that," Rose says.

In Cleveland, Symon is widely credited as the catalyst for the city's lively, chef-driven restaurant scene, and he is an active supporter of the local foods movement through his restaurants Lola and Lolita.

"We have a guy who raises all our chickens," Symon said. "We have a guy who raises all our pork. Somebody forages for all our mushrooms."

He plans to do likewise in Michigan.

Many of metro Detroit's most influential chefs buy from local growers and producers, helping build a stronger agricultural network and create local jobs.

But it takes time, especially when a chef needs something unusual or difficult to grow.

Not enough Michigan farms can produce the animals Roast needs now, so Rose's whole pigs, lambs and goats come from Illinois -- but he's looking for new sources in the Thumb.

Nearly every part of the animal is used in what Symon calls "nose to tail" cooking. Even the pig ears are simmered and softened in fat for 20 hours before being julienned and fried into crispy garnishes for an egg-topped warm spinach salad.

Limiting waste keeps costs down, and savings are passed on to diners. In the end, it helps Roast's dinner menu feature at least 10 entrées for $25 or less, including a beautiful 6-ounce filet for $21 and a 12-ounce hanger steak for $23.

Symon is no stranger to Detroit. He comes into town weekly for at least a day or two, spending time with the Roast staff, including sous chefs Randy Weed and Andy Hollyday, and coming out into the dining room several times a night.

Warm, unassuming and immediately recognizable with his bald head and broad smile, the star of Food Network's "Iron Chef: America" meets guests and poses for pictures.

"We weren't going to come here and put our name on a restaurant and walk away from it," he said as he and his wife, Liz, and partner Doug Petkovic prepared to open Roast last fall. "We're very hands-on owners."

One of Symon's top employees, Lola general manager Frank Ritz, has moved to Detroit to be Roast's general manager and build relationships with downtown workers, residents and businesses.

"We're not just a restaurant in a building," Ritz said, "but one trying to embrace a city. ... I'm here to be part of revitalizing the city. I see it happening."

Contact SYLVIA RECTOR at 313-222-5026 or srector@freepress.com.

Brush Park Village North Update

2008-12-17T10:32:00.003-05:00

The developers at Brush Park Village North have recently made some significant changes in the sales and marketing strategy for the development. Brush Park Village North is now being represented by Max Broock Realtors. Over the next couple of months, the developer will begin marketing the development and reaching out to both Midtown residents and area Realtors.

Brush Park Village North offers 18, studio, one, two and three bedroom condominiums priced from $131,900 to $358,455. All units include granite countertops, Whirlpool® stainless steel appliances, Kohler® plumbing fixtures, ceramic tile in all bathrooms and premium contemporary flat panel kitchen cabinets. Homeowners at Brush Park Village North will receive the Neighborhood Enterprise Zone (NEZ) 15 year property tax abatement. Most owners will pay less than $2,500/year for property taxes.

Brush Park is conveniently located near the Detroit Medical Center, Orchestra Hall and the Max M. Fisher music center, Starbucks, Zaccaro's Market, Ford Field, Comerica Park, Fox Theater, Wayne State University, several restaurants and bars as well as the Cultural Center and Eastern Market.

The developers at Brush Park Village North are also offering a pricing guarantee program that insures when you purchase a new home at Brush Park Village North, the developer will not undercut pricing on similar units. If similar units are sold in the development at a lower base price, the developer will refund the difference to you.

For additional information on Brush Park Village North, visit our website (http://www.brushparkvillagenorth.com/). Detailed pricing information can be found at:
http://citylivingdetroit.com/05/doc_lib/BrushParkVillageNorthPricing.pdf

The Brush Park Village North sales center (3152 John R) is open every Saturday and Sunday from 12noon to 3pm. Private showings are also available.

Austin Black II - Listing Agent
Max Broock Realtors
313.550.2307
austin@austinb2.com
www.austinb2.com

National City Closes on First Sale of a Condo Unit in the New Book Cadillac Hotel - Sets Benchmark for Residential Value of New Condos in Detroit

2008-10-16T15:16:00.001-04:00

DETROIT, Oct 07, 2008 /PRNewswire-FirstCall via COMTEX/ -- National City has announced the closing of the first sale of a condo unit in the new Book Cadillac Hotel.

The 1,401 square foot unit sold for $463,550, which equates to $331 per square foot, a new appraisal benchmark for Detroit. The next closings are expected on October 9 by other lenders with six by National City to follow shortly thereafter.

David Boyle, president for National City in Michigan, said, "As the lead investor in the Book Cadillac renovation, with over $38 million invested, and as the presenting sponsor of the October 25 grand opening gala, we are proud to announce this milestone, which establishes a new residential value for condo sales in the city."

He emphasized, "Over the past 10 years, National City has been at the forefront in community development for downtown Detroit and the surrounding neighborhoods. We welcome our responsibility to lead the way as a partner in our city's renaissance."

National City provided the final sources of financing which made the Book Cadillac deal complete. The equity investment allowed the other pieces of financing to fall into place.

The National City CDC approved the purchase of a condo unit which made the project eligible for the bank's unique NCHAMP (National City Housing Affordable Mortgage Program) mortgage loan. NCHAMP provides for a conventional 15 or 30-year fixed-rate loan with no points and priced at one and one-half percent off the current interest rate.

Dick Buss, director of the National City CDC in Michigan, explained that National City was the key investor in the first "Chicago-style" loft project, The Canfield Lofts in the Midtown neighborhood. This was followed by current projects including: The Ellington (new construction at Woodward at Mack), The Vinton (a historic rehabilitation at Woodward at Congress), The Riverfront Condos (Tower 300, a conversion of apartments to condos), and The Willys-Overland Condos (an industrial loft rehabilitation project on W. Willis at Cass.)

National City has also been the first and the leading bank investor bringing the value of federal New Markets Tax Credits for commercial development to support housing in Detroit's neighborhoods. The National City CDC has approved more than $30 million of equity investments for eight projects as varied as Midtown's N'Namdi Art Gallery, the Mexicantown Welcome Center and Mercado, and Techtown's business incubator and coffee shop.

Boyle concluded, "National City formed the first CDC in the country in 1982. Under the extraordinary work of Dick Buss and our development teams, our CDC enjoys a strong record of equity investments that lead the way in revitalizing our neighborhoods by delivering quality residential options."

SOURCE National City Corporation

Detroit residential market slows; bright spots emerge

2008-10-16T10:24:00.003-04:00

By Daniel Duggan, Crain's Detroit Business
October 5, 2008

Detroit developers speak fondly of the environment of a few years ago, when there seemed to be a condo development planned at every corner.

While there still are new projects in the planning and building phases in Detroit, it's far from the harried pace it once moved at.

But don't say it's dead.

“There are still things getting done; there's small businesses, rental projects and for-sale projects,” said Sue Mosey, president of the University Cultural Center Association.

Mosey's group works to spur development in what remains the hottest area, the Midtown community, where loft developments are still being proposed in gritty former industrial buildings.

In Detroit's waterfront area, the most marketed project is the 112-unit Watermark proposed on Detroit's riverfront by Dave Bing's Springarn Development L.L.C.

Another high-end project is the 64 luxury condos on top of the Westin Book Cadillac hotel near Detroit's central business district.

Northwest of the business district, Detroit-based Made in Detroit has proposed 93 luxury residential lofts in the former Detroit Creamery building near the MotorCity Casino.

In the category of “interesting,” developers Patrick and Leslie Horn plan to build a 17-unit condominium complex out of 85 metal shipping containers at a cost of $1.8 million, with units selling for as low as $100,000.

But building and planning projects is one thing — selling is another.

While all of metro Detroit has undergone a quiet increase in residential sales compared with last year, the city of Detroit has seen the biggest increases.

In August, the region's sales were up 11 percent over August 2007, marking the eighth straight month of increases, according to the Farmington Hills-based MLS RealComp II Ltd.

Detroit, however, posted an August increase of 38 percent, marking increases every month this year. And pending sales in Detroit — 1,600 as of August — mark a 49 percent increase over 2007.

“I've been seeing a lot more interest than last year, and seeing more sales as well,” said Austin Black II, a Realtor in the Birmingham office of Max Broock Realtors who specializes in Detroit sales.

The deal flow is still restrained on the buying side by sluggishness on the selling side, he said.

“I've had people willing to sell their houses at a loss since they can make it up in the savings they're getting on the home they buy,” he said. “But there are people who are upside down on their homes by $100,000 — and there's not much you can do.”

While the condo projects get all the attention, Black said he's seen the most deals taking place for single-family homes.

The reason, primarily, is financing.

Single-family homes can qualify for many of the first-time homebuyer programs under the Federal Housing Administration. As a result, buyers can purchase a single family home with a 3.5 percent down payment compared to 20 percent for some condo deals.

“People are looking at the lending and the space they get for the money,” Black said. “Single-family homes can be appealing.”

Lending constraints have been a daily struggle for the condo developers in Detroit.

At the Willys Overland Loft project near Wayne State University, nine units have been sold, but there are 15 more reservations for units, said Kyle Campbell, development manager for Plymouth-based DeMattia Group and Detroit-based Midtown Development Group.

“All of those people are ready to buy, but they're waiting for a house to sell or just get lending,” he said.

Another way around the lending problem is to switch from for-sale to rental.

Campbell said he gets calls on a regular basis from people asking if Willys has switched.

Some projects, such as 55 West Canfield, are switching to rental as a way to see units occupied.

“Rental has become a strong sector,” Mosey said. “Some of the for-sale developments are discounting, but others are just switching to rental.”

Daniel Duggan: (313) 446-0414, dduggan@crain.com

15 E. Kirby, Detroit, MI 48202 - Elegant Park Shelton Condo ($214,900)

2008-09-18T23:59:00.013-04:00

Elegant Park Shelton top floor corner unit with spectacular views of the downtown Detroit skyline and beyond. Home features exotic hardwood floors throughout, custom window treatments, faux fireplace and tons of natural light. Building has 24hr doorman, fitness center, rooftop deck with community room. Association fees include water, heating, cooling and electricity.

Listed for sale at $214,900
1 bathroom, 1,126 sq ft

MLS# 28157333

Austin Black II - Listing Agent

Max Broock Realtors

313.550.2307

austin@austinb2.com

www.austinb2.com

Countdown to the opening of the Westin Book Cadillac

2008-09-18T23:59:00.007-04:00

After two years of construction, renovations at the Westin Book Cadillac are coming to an end and will soon be bustling with hotel guest, events and residents.

The Detroit Athletic Club and Urban Land Institute hosted their annual downtown Detroit walking tour Tuesday, September 16. Featured on the tour were various sculptures downtown and the Westin Book Cadillac.

Below is one of the historic ballrooms that has been restored.

A soft opening of the Westin is planned for October 1 with the grand opening scheduled for later in the month.

Sad and historic day in Detroit's history

2008-09-04T10:00:00.005-04:00

September 4, 2008 will forever be known as a historic day in Detroit's political landscape. The youngest mayor in the city's history resigned from office after an 8-month scandal that rocked city government and led the headlines daily. Although it seems the debacle is coming to an end, this is by no means is a time for celebration.

Mayor Kilpatrick was the youngest mayor elected in the city's history in 2001. When he entered office, he promised "revolutionary" changes to the city. Some of the Mayor's accomplishments include the RiverWalk, the Westin Book Cadillac hotel and condominiums, new residential developments throughout the city and property tax relief for Detroit's neighborhoods.

As a Detroit resident and advocate of the city's revitalization, I supported the Mayor's vision and recognized his accomplishments. At the same time the events that have unfolded this year have been a major distraction and damaging to the city. Closure is necessary for us as a city, region and state to move forward.

Mayor Kilpatrick cannot blame anyone but himself for the situation he is in today.

My thoughts and prayers go out to Mayor Kilpatrick, Christine Beatty, their families and the city of Detroit.

Detroit's Motto: "Speramus Meliora; Resurget Cineribus" – "We Hope For Better Things; It Shall Rise From the Ashes"

2602 Woodward Ave., Detroit, MI 48201 - Brush Park Townhouse ($209,900)

2008-08-30T13:39:00.007-04:00

Priced to sell! Two bedroom, two bath, premium end unit condo is located within blocks of Comerica Park and Ford Field. Home features spacious master suite with walk-in closet and sitting area, jetted tub, balcony, fireplace in the great room, new carpet and paint.

Listed for sale at $209,900
2bedrooms, 2 bathrooms, 1,753 sq ft

Austin Black II – Listing Agent
Max Broock Realtors
313.550.2307
austin@austinb2.com
www.austinb2.com

300 Riverfront Drive - Riverfront Condo for Sale ($139,900)

2008-08-30T09:20:00.006-04:00

Live 26 floors above the city. Enjoy calming waterfront and skyline views in this one bedroom, turn-key condo with all of the amenities of a resort, conveniently located in downtown Detroit. Recently renovated home includes all appliances, granite counters and indoor parking. Community features a market, restaurant, fitness center, marina and People Mover access.

Listed for sale at $139,900
1bedroom, 1 bathroom, 553 sq ft

MLS# 28128959

Austin Black II – Listing Agent
Max Broock Realtors
313.550.2307
austin@austinb2.com
www.austinb2.com

78 Watson, Detroit, MI 48201 – Brush Park Loft for Lease ($1,250/month)

2008-08-30T08:49:00.008-04:00

This phenomenal Midtown loft has exposed brick, hardwood floors, generous walk-in closet and a spacious bathroom. Loft also includes a large great room with gourmet kitchen and stainless steel appliances, in-unit laundry, heated floors a private deck with great views of the downtown skyline.

Live within walking distance to Zaccaro's gourmet market, Comerica Park, Ford Field and the downtown entertainment district.

Listed for rent at $1,250/month
1bedroom, 1 bathroom, 1,282 sq ft

MLS# 28141482

Austin Black II – Listing Agent
Max Broock Realtors
313.550.2307
austin@austinb2.com
www.austinb2.com

Attention first-time home buyers, you may qualify for a tax credit up to $7,500!

2008-08-17T19:49:00.011-04:00

To stimulate the housing market, legislation was recently passed to provide tax credits for up to $7,500 for first-time home buyers.

First-Time Home Buyer Tax Credit Facts

Who is Eligible?

The $7,500 tax credit is available to all first-time home buyers who are tax filing U.S. Citizens. The law defines a first-time home buyer as a buyer who has not owned a home during the past three years.

Income Limits

Home buyers who file as a single or head-of-household taxpayer can claim the full $7,500 credit if their adjusted gross income (AGI) is less then $75,000. If their income is between 75,000 and 95,000 they are eligible to receive a partial tax credit. If the household earns greater then $95,000, they are not eligible to receive the tax credit.

Married couples filing joint returns earning up to $150,000 can receive the full tax credit. Households earning between $150,000 and $170,000 are eligible to receive partial tax credit. If the household is greater then $170,000, they are not eligible to receive the tax credit.

Effective Dates for the Tax Credit

First-time home buyers who purchased a home on or after April 9, 2008 and before July 1, 2009. To qualify, you must actually close on the sale of the home during this period.

Tax Credit is Refundable

A refundable credit means that if you pay less then $7,500 in federal income taxes, then the government will write you a check for the difference. For example, if you owe $5,000 in federal income taxes, you would pay nothing to the IRS and receive a $2,500 payment from the government. If you are due to receive a tax refund from the IRS, your refund would increase by $7,500. If you purchased your home in 2008 you would take your tax credit in 2008. If you buy in 2009, you have the option to claim the credit on your 2008 or 2009 tax return.

Types of Homes that Qualify for the Tax Credit

All homes, weather a single-family or condominium will qualify, provided, that the home will be used as a primary residence and the buyer has not owned a home in the prior three years. This also includes newly-constructed homes.

Payback Provisions

Unlike most tax credits, this tax incentive MUST be paid back. All eligible purchasers who claim the credit will be required to repay it over 15 years. The status specifies that the repayment amount will be 6.67% of the credit amount each year. Thus, a buyer who qualifies for the full $7,500 credit will repay $502.50 each year. There will be no interest charge on outstanding balances.

Source: John Adams Mortgage Company, an affiliated company of Max Broock Realtors and Real Estate One

Crain's Detroit House Party - September 18, 2008

2008-08-14T14:39:00.011-04:00

In conjunction with the August 11 “Living & Investing in the D” special section, Crain’s Detroit Business will host its Third Annual Ultimate Detroit House Party.

Once again, Crain's will work with Detroit neighborhood associations to promote the benefits of living in a variety of beautiful Detroit neighborhoods. In 2006, the event launched as a one-evening affair and attracted 900 attendees, 35 house parties, 14 sponsors and 11 restaurants. In 2007 it got even better, with more restaurants, more houses and more attendees!

Click here for registration information.

Final touches being applied to renovation of historic Book Cadillac

2008-08-13T09:34:00.004-04:00

By John Gallagher • Free Press Business Writer • August 13, 2008

The Venetian Ballroom at the Book Cadillac Hotel in Detroit, Tuesday, Aug. 12, 2008. (SUSAN TUSA/DFP)

Detroit's historic Book Cadillac Hotel is looking more like its old self day by day.

Racing against an Oct. 1 deadline, construction crews this week were setting marble tile, hanging crystal chandeliers and otherwise getting the new Westin Book Cadillac Detroit ready for opening day.

On Tuesday, electrician Al Hardt was painstakingly installing Italian hand-blown glass elements on one of two chandeliers in the hotel's Venetian Ballroom. Artisans created the glass elements in Murano, Italy, the legendary glass-making center near Venice, and each of the ballroom's two chandeliers will contain 450 of the pieces. Hardt and other workers must carefully hang every element by hand.

Elsewhere, most of the guest room floors have all the furniture in, while the ground floor, the last to be finished since work proceeds from the top down, was still largely a construction zone Tuesday. The Westin's sales staff already occupies its office on the third floor, despite the piercing sound of a fire alarm being tested throughout the day.

The Westin reservation system is accepting room bookings for stays beginning Nov. 1. The hotel will open to the public on Oct. 1, but no ceremonies are planned until a black-tie event featuring Grammy winner Michael McDonald on Oct. 25.

Click here to read the entire article.

Crain's Detroit Business - Living and Investing in the D!

2008-08-11T11:40:00.006-04:00

Crain's Detroit Business just released their annual magazine supplement, Living and Investing in the D.

Click here to read the online version of the 2008 issues of Crain’s Living and Investing in the D.

For Sale: 1890s Brownstone in Brush Park ($385,000)

2008-08-07T08:15:00.008-04:00

This unique 1890s brownstone building located in historic Brush Park offers the distinction of timeless architecture combined with the convenience of a modern home.

The first level has hardwood floors throughout as does the master bedroom on the second level. The master bedroom also features a private bathroom with jetted tub and separate shower. The kitchen boasts cherry cabinets, granite counter tops, and stainless steel appliances. The private courtyard is perfect for grilling and has been landscaped with flagstone, holly bushes and other plants. The third floor balcony offers excellent views of the city and the fireworks after weekend Tigers games. The large windows allow plenty of natural light. There is plenty of closet space for storage. The two car attached garage offers a large bonus room above it which works well for entertaining.

2,500 sq ft, 3 bedrooms, 2.5 baths, 2-car attached garage, $950/yr property taxes… Listed at $385,000

Listing provided by owner.
Contact Austin Black II to schedule a showing.
Max Broock Realtors
313.550.2307
www.austinb2.com
austin@austinb2.com

Willys Overland Penthouse Update

2008-08-06T09:07:00.014-04:00

A few months ago a client of mine signed a purchase agreement for a 2 bedroom, 2 bath, 2,300 sq ft penthouse at the Willys Overland Lofts in Midtown. Over the next couple of months, I will post progress reports with photos on the Willys Overland penthouse.

Yesterday (August 5, 2008) was the first progress report and walk-through of my client's unit. The meeting included her interior designer (Amy Cowan, CD-27), representatives from the developer and myself.

In just a few short weeks the demising wall studs were completed and my client’s future home was beginning to develop.

(upper photo) - demising walls, (lower photo) - terrace with views towards Wayne State and New Center

(upper photo) - view from bedroom to living room, (lower photo) - view into wine room

Willys Overland Lofts is a 75-unit condominium project in Midtown. This project offers unique floor plans that can be customized by purchasers. Some units include balconies or terraces with views of the downtown skyline to south and New Center to the north.

Stay tuned for future updates...

For additional information on the Willys Overland Lofts, contact:

Austin Black II

Max Broock Realtors

313.550.2307

http://www.austinb2.com/

austin@austinb2.com

The Motown movement - Young people put down roots in city to help it flourish again

2008-08-03T08:56:00.002-04:00

BY MARGARITA BAUZA • FREE PRESS BUSINESS WRITER • August 3, 2008

Jerrid Mooney, 34, started to hang out at the Detroit Opera House a few months ago.

The systems analyst from Ann Arbor was not a big fan of Detroit. But he was stunned to find a young, vibrant crowd he had much in common with.

As he made friends and visited their homes, he discovered the Carlton, a 1920s hotel at the corner of John R and Edmund in Detroit's Brush Park. It was turned into lofts in 2005.

Mooney, who moved out of his Ann Arbor apartment, said the visit led to a eureka moment.

"It just kind of spoke to me," he said. "The people I was surrounded with made me feel like this is home."

Mooney contacted a real estate agent who showed him some lofts at the Carlton. He said he will buy a place there on Aug. 16.

"It has a real industrial feel -- exposed brick, concrete floors, a fireplace, granite hardtop counters and stainless steel appliances," he said.

Mooney is among hundreds of young people choosing the city over the suburbs. They say they like the underground vibe of city dwellers who enjoy art, culture and a walkable community. They also want to join the movement to reinvigorate Detroit's neighborhoods near downtown.

And let's not forget about the good deals.

"There are lots of hidden gems and so much positive energy," said Mooney, who is also applying for jobs in the city so he can be in Detroit full-time. "It's a city but it's also a small town in terms of who you run into."

In Mooney's case, he found the place of his dreams for a price he couldn't refuse. The property, which previously sold for $270,000, was foreclosed after its owner passed away. He is buying it for $114,000.

Austin Black II, a real estate agent with Max Broock Realtors in Birmingham, said many of his clients who want to buy downtown are Michigan natives who left for other cities in their early 20s only to return with an itch for city living. Some are empty nesters from the suburbs who want to scale down from a large house. Others are new to the area.

Yet they all have one commonality: They want the urban experience.

That describes Black, too. While in college, the 27-year-old spent time in Washington, D.C., and later Rome.

When he returned to Michigan, the former Troy resident wanted to continue living the urban life.

Black began selling real estate in 2004. He simultaneously launched a Web site called www.citylivingdetroit.com as a way to tout the city's opportunities, its communities and the lifestyle.

He lives in what he calls a soft-loft in Midtown at the Ellington, a building on Woodward Avenue known for its Starbucks. He specializes in selling downtown Detroit properties, but said his preference is Midtown, which is surrounded by I-94 to the north, I-75 to the east and the south and the Lodge freeway on the west.

"You can walk to restaurants, museums; it's not far from downtown, and it's a vibrant urban neighborhood," he said. While crime is a deterrent to some buyers, Black said young people are not so bothered by the city's safety reputation.

"Younger people in particular have less of a fear of crime," he said. "They know that no matter where you are, it's a reality. They're more street smart about things. Plus, in Midtown we have two layers of police protection -- Wayne State and the Detroit Police Department."

Pricing is attractive, too.

Black recently sold a 4,000-square foot, three-story penthouse property with an outdoor terrace at the Book Cadillac for $1.1 million. A similar property in Birmingham would be several millions more, he added.

The biggest sales challenge is that lenders have more restrictions than they used to, which affects young professionals. Several years ago, lenders were requiring zero to 3% down. Now the norm is 10% to 15%.

Black got more creative. Nine months ago, he launched a monthly newsletter about what's going on downtown. It has 1,000 subscribers.

"It's not so much about real estate but about the lifestyle," he said. "It reaches more people and people pass it along to their friends."

Max Broock in Birmingham recently hired Black because the company wanted to be more involved in the downtown real estate scene.

"I live downtown, which is really important to my clients because I'm living that lifestyle," Black said.

Potential buyers are setting their sites on properties.

Stephanie Fries, 30, is renting a 1,000-square-foot apartment in Cadillac Square near Campus Martius as she saves to buy a place.

Fries, who grew up in Livonia, is now saving money to buy a place through the Graduate Purchase Assistance program, a state program tailored to help recent college graduates move to any of eight Michigan cities targeted for economic growth.

The program can help a recent graduate qualify for a 30-year fixed-rate mortgage for 2% lower than the going rate.

"At first I was buying into what people were saying that you couldn't live downtown, that I wouldn't be safe, that I'd get mugged, that I wouldn't find a place to park my car," she said. "But there's really nowhere I wanted to be but Detroit."

Jeannette Pierce, who runs InsideDetroit.org, became a city booster after returning to Michigan from a study abroad program in Spain.

Pierce, 27, is seeing an increased desire of people to live in cities.

"They are tired of housing that looks the same and not knowing neighbors ... they are ready for authenticity, culture and diversity."

Contact MARGARITA BAUZA at 313-222-6823 or mbauza@freepress.com.

Fusion visits the Westin Book-Cadillac condos…

2008-08-01T07:23:00.012-04:00

Last night Fusion, a young professional organization hosted a networking event in downtown Detroit, which included a tour of the condominiums at the Book-Cadillac. The Book-Cadillac will open in October as a 455 Westin Hotel and 67 luxury condominiums.

The event started at a downtown restaurant with about 40 people eagerly waiting to tour the Book-Cadillac. I was joined by a friend and a client (a future Book-Cadillac condo owner).

Although I have toured the Book-Cadillac many times through-out the construction process, my client had not been in the building yet.

We started the walking tour about three blocks from the Book-Cadillac. Our tour guide described some of the changes taking place in the neighborhood including several other building around the Book-Cadillac that are being renovated or have planned renovations.

Once we arrived at the hotel, the excitement and anticipation was clear.

We entered the building and went up the elevator to the 24th floor (the first level of residential condos). We arrived at the luxurious model unit which offers granite counters, hardwood floors, marble bathrooms, panoramic views of the downtown skyline and the Detroit River.

Many commented that the Book-Cadillac rivaled condominium projects in New York and Chicago.

Although the tour was short, it gave us taste of what is to come over the next 60 days.

Out of the 67 condos, there 16 available, priced from $285,000 to $824,500.

If you would like some additional information about the available homes, contact me at 313.550.2307 or austin@austinb2.com.

Chances in the challenges... Detroiters have a good reason to stay optimistic about the future.

2008-07-29T12:18:00.056-04:00

The current political and economic climate has made 2008 a turbulent and frustrating year for many Detroiters, including me. Detroit has made significant progress over the last few years; unfortunately, the current chaos has overshadowed these gains.

Last week, a blogger posted a quote from me, about why I returned to Detroit: “I had no intention of returning to Detroit, but then I saw the chances in the challenges.” Seeing this quote inspired me to take the after-noon off for an inspirational bike ride to see the “chances in the challenges”.

What I saw was a clear reminder of why we have good reasons to be optimistic about the future of Detroit. Below is a pictorial of my two-hour bike ride:

South University Village
Opened July 2008
124 apartments

first floor retail space

Willys Overland Lofts
Opening August 2008
75 condos priced from $160,000 to $500,000

Rosa Park Transit Center
Opening Winter 2009

Westin Book-Cadillac Hotel and Condominiums
Opening October 1, 2008
455 room Westin Hotel
67 condos priced from $280,000 to $1,500,000

Fort Shelby Hotel and Apartments
Opening November 2008
204 room Double Tree Guest Suites
63 apartments

The Dequindre Cut
Opening late August 2008

Downtown Foodland Market - Lafayette Park
Opening October 2008

Greektown Casino Hotel
400 room hotel
Opening Winter 2009

Feel free to contact me with any questions or feedback.

Austin Black II

austin@austinb2.com

www.austinb2.com

Just Listed: 4221 Cass Avenue, Unit 100 ($150,000)

2008-07-29T09:22:00.005-04:00

Open bi-level loft in the heart of Midtown, within walking distance to Wayne State University, Mario's, Majestic Cafe, Avalon bakery, Traffic Jam, Motor City Brewing Works. Loft features hardwood floors, stainless steel appliances, granite countertops, spacious master bedroom with walk-in closet, indoor parking with room for storage. Loft includes property tax abatement thru 2019.

One bedroom, one bath, 816 sq ft… Just listed at $150,000

MLS# 28111263

Austin Black II - Listing Agent
Max Broock Realtors
313.550.2307

austin@austinb2.com

www.austinb2.com

Just Reduced: 6533 East Jefferson Ave. #313W ($89,999)

2008-07-29T09:05:00.009-04:00

This true loft is within walking distance to Belle Isle, the soon to be completed River Walk, and less than a 5 minute drive from downtown and major expressways. This loft features high ceilings with wood beams, exposed brick, stainless steel appliances, granite countertops, quartz concrete floors, jetted tub and a balcony. Property has a Neighborhood Enterprise Zone designation.

One bedroom, one bath, 729 sq ft… Just reduced to $89,999

MLS# 28021667

Austin Black II - Listing Agent

Max Broock Realtors

313.550.2307
austin@austinb2.com
www.austinb2.com

Just Reduced: 829 Piper ($66,000)

2008-07-29T08:51:00.007-04:00

Builder Close-Out: Brand new condominium in the Heritage at Riverbend development, built by Lombardo Homes. Home boasts lots of upgrades including: cherry cabinets, 6’ jetted tub, walk-in closet in the master bedroom and all appliances included. Live just minutes from downtown Detroit and the shops of Grosse Pointe. Property has a Neighborhood Enterprise Zone designation.

One bedroom, one bath, one car garage, 890 sq ft… Just reduced to $66,000.

MLS #28055733

Austin Black II - Listing Agent
Max Broock Realtors
313.550.2307

austin@austinb2.com

www.austinb2.com

Fannie Mae Scraps Declining Markets Policy

2008-05-17T08:26:00.002-04:00

Daily Real Estate News May 16, 2008

Fannie Mae will no longer require borrowers to put up an extra 5 percent down payment when purchasing homes in areas deemed "declining markets," the country’s largest secondary mortgage market company said Friday.

Fannie Mae had been hearing concerns from REALTORS® and others for months that its declining-markets policy was bad for the housing market because it discouraged consumers from buying homes in markets hardest-hit by foreclosures.

"It stigmatized communities with lower sales and prices," said Dick Gaylord, president of the NATIONAL ASSOCIATION OF REALTORS®.

NAR met several times this spring with Fannie Mae officials and sent letters reflecting members' unease with the policy. “We heard the concerns of NAR and we reviewed and determined that changes in our policy were needed,” Gwen MuseEvans, Fannie Mae vice president for credit policy and controls, said in a statement Friday.

Fannie Mae's announcement comes as more than 8,000 REALTORS® are gathered in Washington, D.C., where Fannie Mae is headquartered, for NAR's 2008 Midyear Legislative Meetings & Trade Expo.

Under the policy change, borrowers can get loans up to 95 percent loan-to-value, even in markets in which prices have been falling. Prior to the change, borrowers could only get loans up to 90 percent to give lenders a 5-percentage-point cushion to protect against possible price declines in the future.

“This new down payment policy reinforces our goal to support successful home-owning,” says Marianne Sullivan, Fannie Mae's senior vice president of credit policy and risk management for single-family homes.

The new policy takes effect June 1.

— By Robert Freedman for REALTOR® magazine online

Young professionals tout Detroit living, business opportunities

2008-05-07T17:20:00.001-04:00

By Rober Ankeny, Crain’s Detroit Business

“Positive attitudes will bring positive results” was how Ron Angelocci, senior vice president of Advance Strategies Group Inc., summed up the hour-plus panel discussion at Wednesday’s Business over Breakfast in the Renaissance Club.

Sponsored by Crain’s Detroit Business, the event featured a panel of four young professionals, each of whom had been saluted in Crain’s 20 in the 20’s feature in the past three years.

Michelle Darwish, Crain’s Business Lives editor who moderated the event, asked the young entrepreneurs to explain why they chose to live and pursue creative careers in Detroit, and how the city and region could best attract and retain more young talent.

All said that using organization resources such as those of the Detroit Regional Chamber, Detroit Metro Convention and Visitors Bureau and the Detroit Economic Growth Corp., plus networking with colleagues and friends is key to career success.

Austin Black, a Realtor with Max Broock Realtors and president of the City Living Detroit Web site, said he educating friends and co-workers about opportunities in the city can offset the “anywhere but Detroit” attitude frequently voiced by the city’s detractors.

“I had no intention of returning to Detroit,” said Black, a graduate of Birmingham Seaholm High School and Cornell University who has lived in Washington, D.C., and Italy. “But then I saw the chances in the challenges.”

Phillip Cooley, co-owner of Slows Bar BQ and a general contractor of Detroit-based O'Connor Development Group L.L.C., who has a fine arts degree from Columbia College in Chicago, said he too welcomed a challenge in a neighborhood that needed help.

He got support for his restaurant from other Corktown business people by networking, Cooley said. His business has “unexpectedly done triple our projections,” and he is opening a carry-out and catering branch of Slows next year in Midtown.

Eric “Dusty” Duistermars, a senior associate at UGL Equis Corp., is president and founder of Detroit Office Inc., a nonprofit that offers information for businesses considering office or commercial space downtown, and is modeled after Black’s residentially oriented City Living Detroit.

Jeanette Pierce, information director for Inside Detroit, was also raised in Detroit, graduated from Aquinas College in Grand Rapids, and lived in Spain before returning to the city.

Specializing in tours of Detroit, Pierce said employers should show potential recruits what the city has to offer, including “150 restaurants and bars in walking distance of downtown, art galleries,” and theaters with a total of 13,000 seats.

All agreed that Detroit and Detroiters need to stress Detroit’s growth and urban advantages, including entertainment, sports, arts and job opportunities, to educate residents in southeast Michigan and beyond, offsetting negative stereotypes.

A test of how positive messages work came when Darwish asked: “What did your parents say, when you decided to move into Detroit?”

Black said his mother, who lives in Troy, now wants to move downtown.

Pierce said her parents stayed in Detroit, and brought her “downtown to every event” as a child.

Duistermars, who grew up in Holland, said his parents visit him frequently, for Detroit events.

Cooley said his parents, who helped finance his restaurant, were “half-excited and half-concerned,” but have also moved downtown.

http://www.crainsdetroit.com/apps/pbcs.dll/article?AID=/20080507/REG/633075943/1069

Life in the big city!

2008-05-02T10:08:00.001-04:00

Warmer weather and higher gas prices have caused many of us to rethink our daily routines, myself included. Per usual, I have attended various events and patronized many establishments downtown over the last two weeks. What made the last two weeks unusual, was that fact that I did not drive once in order to attend these gatherings. Instead, I either biked or walked the mile to downtown. I believe flexibility epitomizes the very best of urban living in Detroit-not only are there fantastic places to hangout and many happening events that occur during the springtime-but most are readily accessible by walking, riding, or hopping-on the People Mover for those lucky enough to be living in downtown Detroit. That is why I am always encouraging people to give urban living a try-people are always amazed with how much is available just steps from their door. The Riverwalk, too, is fast becoming the destination of choice for lazy May strolls along the river, so don't miss out!

In other news, I am pleased to announce that I also left my SUV at home, and took the bus to work for the first time last week. It took me from downtown Detroit to downtown Birmingham in 45 minutes, nearly door-to-door! The service was efficient, the ride was pleasant and the price was right, especially when compared with the prospect of paying $4.00 per gallon of gasoline. It felt great being able to conduct business as usual-going to the office, meeting friends for a drink at Mosaic-without having to drive (or park) my car. This freedom also reminds me why I love big cities so much, including Washington, D.C. and Rome, Italy, where I had the privilege of living before. These are just some of the advantages of living in Detroit nowadays that perhaps you haven't considered, and it is the icing-on-the-cake in today's buyer's market, where real estate deals abound for the savvy consumer.

200 River Place, #38 - SOLD!

2008-03-03T08:07:00.002-05:00

I recently listed on condo at 200 River Place, a loft development on the east riverfront. The owners had previously listed the loft with two other Realtors without any offers. After getting the listing, I knew something had to be done to differentiate a listing that was priced at $449,900.

I took lots of photos, put it on mls, created a brochure, had a virtual tour created, put the listing on my website and immediately notified clients and other agents about the new listing. Although most of this sounds basic, most of my competition with high-end listings only put one photo online.

Shortly after listing the property I had my first showing. With-in 90days we had an offer and closed last month.

Austin Black II - Listing Agent
Max Broock Realtors
313.550.2307

austin@austinb2.com

www.austinb2.com

200 River Place, #3 - $395,000

2008-01-17T14:49:00.000-05:00

This luxury loft, steps away from the Detroit River, features: over 2,000 sq ft, hardwood and slate floors, stainless steel appliances, granite countertops, gas fireplace, lots of storage, indoor parking on the first floor, 15’ beamed ceilings and brick walls. Enjoy the serenity of the Detroit River and be minutes from the bustling downtown entertainment district. Loft has NEZ Tax abatement until 2015.

2 bedrooms, 2.5 baths, indoor parking - $395,000

Visit my website: www.austinb2.com

Detroit Studies Mass Transit Options

2008-01-16T15:06:00.000-05:00

by Detroit Transit Options for Growth Study

As the revitalization of the Detroit area progresses, the need for a viable rapid transit system that connects neighborhoods, businesses, major destinations and new development is becoming more and more evident.

The transportation study - known as the Detroit Transit Options for Growth (DTOG) Study - will identify and evaluate rapid transit options to improve access and mobility in the Detroit area.

For more information vist: www.dtogs.com