The Somerset Collection in Troy today announced it is adding 15 new stores over the next year, bringing nearly 60,000 square feet of new retail investment to the state. Additionally, several signature stores at Somerset Collection have experienced expansions and new line introductions.
Detroit-based Bedrock, part of the Quicken Loans Family of Companies, today announced it will invest $2.1 billion in four large projects in downtown Detroit that will create up to 24,000 jobs — 15,000 construction positions and 9,000 jobs — once the redevelopment efforts are completed over the next five years.
Real estate developer and alumnus Stephen Ross today announced his latest donation to the University of Michigan in Ann Arbor. Ross’ gift of $50 million brings his lifetime giving total to $378 million. The latest gift will support career development programs for students, action-based learning experiences, and resources for attracting and developing junior faculty.
London-based Laird, a global technology firm focused on vehicle connectivity, today opened a new R&D center in Grand Blanc. The new facility will serve Laird’s connected vehicle solutions division, which also operates R&D centers in Germany and China.
The Fred A. and Barbara M. Erb Family Foundation today announced a $1 million gift to the Motown Museum to assist with expansion plans. The foundation’s donation will support the development of the museum’s education and community engagement space, which helps share Motown’s legacy with students, neighborhood residents, and visitors.
Detroit-based Huron Capital has co-founded Brudner Polymer Corp. with David Brunori to build a platform company in the adhesives and sealants industry. Through Brudner, Huron Capital plans to invest in technologically advanced adhesive and sealant companies serving a variety of locations and end markets.
City of Detroit and Wayne County officials today announced that tax foreclosures throughout Detroit have decreased 88 percent over the past two years, to their lowest levels since the housing market collapsed in Oct. 2008. This year, Detroit saw 786 tax foreclosures involving homes occupied by the owner, compared to 6,408 two years ago.
Re/Max of Southeast Michigan has released its August housing report, which shows a 3.1 percent increase in home sales (5,234 homes sold) in the past month and a sale price increase of 4.2 percent to $202,063 as compared to the same period a year ago. There were 4,707 homes sold in July.
LG Chem, a chemical engineering company that operates its North American headquarters in Troy, has collaborated with Proterra, a Calif.-based innovator in heavy-duty electric transportation, on a battery cell optimized to meet the unique performance and safety demands of the heavy-duty vehicle market.
Jack Entertainment, a Detroit-based gaming company, has announced the transition from Greektown Casino-Hotel to Jack Detroit Casino-Hotel will be completed by May 2018. Upon completion, the casino will offer new dining and entertainment experiences.
Washtenaw County has approved Veridian at County Farm, an environmentally sustainable community of up to 150 residential homes on 12.5 acres of vacant, county owned land. The project is expected to break ground in 18 months and will take two to three years to complete, pending city rezoning and site plan approval.
Troy-based PayAnywhere, a mobile point-of-sale (POS) solution working to provide merchants with tools to grow their businesses today announced it will offer the PayAnywhere 2-in-1 Bluetooth Credit Card Reader at no cost to all business owners who use the service. The PayAnywhere card reader transforms any Apple or Android device into a mobile POS system and is available on both App stores.