Our roundup of the latest news from metro Detroit and Michigan businesses as well as announcements from government agencies. To share a business or nonprofit story, please send us a message.
Taubman Realty Group Enroll Malls in DTE Energy’s MIGreenPower Program
DTE Energy in Detroit and Bloomfield Hills-based shopping center owner/operator Taubman Realty Group has enrolled Twelve Oaks Mall in Novi and Great Lakes Crossing Outlets in Auburn Hills as the first shopping centers enrolled DTE’s MIGreenPower program.
MIGreenPower enables DTE Electric customers to attribute a percentage of their electricity use to Michigan-made wind and solar above and beyond the 15 percent DTE already provides. Taubman has made a leadership commitment by attributing 100 percent of the electricity used at Twelve Oaks Mall and Great Lakes Crossing Outlets to renewable energy, which will offset the equivalent greenhouse gas emissions of more than 5,600 gasoline-powered passenger vehicles annually.
“Our partnership with DTE further underscores our aggressive sustainability goals and our commitment to Michigan’s sustainable future,” says Steven Moore, senior director of central operations at Taubman. “MIGreenPower offers a meaningful way to reduce the environmental impact of our shopping centers without incurring the cost of installing and maintaining solar panels, which is an added benefit of the program that we hope more companies will explore.”
Taubman joins more than 1,600 businesses and nearly 100,000 residential customers using MIGreenPower to enhance their sustainability efforts while accelerating the development of renewable energy projects in Michigan.
“We’re proud to help industry-leading companies like Taubman achieve cleaner operations in a way that’s convenient, affordable and effective,” says Knox Cameron, director of renewable solutions for DTE Energy. “As DTE works toward our goal of net zero carbon emissions, we know we’ll make the biggest difference with the support of our MIGreenPower participants, both business and residential.”
For more information, visit migreenpower.com.
BWE Secures $19.75M in Acquisition Financing for Clinton Township Apartments
BWE, a commercial and multifamily mortgage banking company in Cleveland, has secured $19.75 million in acquisition financing for a 326-unit low-rise apartment portfolio in Clinton Township.
Adam Gould, senior vice president in BWE’s Detroit office, originated the three-year, value-add, non-recourse bridge loan with three years of interest-only payments and a 75 percent loan-to-cost ratio on behalf of the buyer, a regional fund that invests in workforce housing.
“In this tough economic environment, we knew that working fast and closing this deal quickly was of paramount importance, so we leveraged our deep knowledge of the southeast Michigan market and BWE’s comprehensive suite of lending products to find a capital solution that fit with the long-term business goals of our client,” says Gould. “As the housing affordability crisis continues, we’re proud to help secure much-needed financing so that these properties can continue to serve hard-working Michigan residents.”
The Clinton Township portfolio consists of 13 low-rise buildings and features a mix of one- and two-bedroom units. Amenities include a pool, clubhouse, tennis court, on-site laundry, and ample parking.
Detroit Riverfront Conservancy to Host Mardi Gras at Valade This Weekend
The Detroit Riverfront Conservancy is hosting Mardi Gras at Valade this weekend from 4-9 p.m. Friday and noon-9 p.m. Saturday at Robert C. Valade Park (2670 East Atwater) in Dertroit.
The event will include live music, Caribbean Carnival costumes, a second line parade, a kids dance party, food, drink, beads. To round out the weekend, guests can participate in a Self-Care Sunday Stoll at 2 p.m.
It’s the third of four themed Winter at Valade weekends this season. In addition to the themed weekends, guests can visit Valade Park every weekend through Feb. 25 for giant fires, marshmallow roasters, sledding, seasonal drinks and food, and special programming on Fridays and Sundays.
For detailed information, visit here.
Chadd’s Bistro in Shelby Township to Accept Bitcoin and Other Cryptocurrencies
Chadd’s Bistro in Shelby Township, as of Feb. 10, will start accepting Bitcoin, Lightning, and various other cryptocurrencies as forms of payment.
An event marking the embrace of cryptocurrency payment at Chadd’s Bistro will take place from 1-5 p.m. Feb. 10, at its new location at 46858 Dequindre Road.
“We are excited to embrace the future of finance and cater to the growing community of cryptocurrency users,” says Chadd Elliot, owner of Chadd’s Bistro. “By accepting Bitcoin and Lightning payments, we aim to provide our patrons with a hands-on, practical use of cryptocurrency, while enjoying our delicious food and drink options. In addition to providing a social space for the cryptocurrency community we look forward to technological experimentation alongside them.”
Pennsylvania Manufactured Home Financier Bringing Services to Michigan
Pennsylvania-based Tammac Holdings Corp., a provider of financial solutions in the manufactured housing industry, has gained license approval to offer manufactured and mobile home loans in the states of Michigan and Alabama.
With the newly acquired licenses, Tammac says it’s poised to bring its expertise and innovative financing solutions to the manufactured housing market in these states.
“Tammac is excited to extend our footprint into Michigan and Alabama, states with vibrant and diverse housing markets,” says Troy Cavallaro, CEO at Tammac. “We are dedicated to providing accessible and affordable financing solutions for individuals and families seeking to achieve homeownership with manufactured housing. Tammac will continue to expand nationwide as we significantly scale.”
Consumers Energy Reports on 2023 Power Restoration
Consumers Energy announced nearly nine in 10 customers who lost power in 2023 were restored in fewer than 24 hours, the result, the company says, of its major upgrades to strengthen Michigan’s electric grid.
Michigan’s largest energy provider last year unveiled its Reliability Roadmap — a long-term commitment to improve reliability and restore all customers in less than 24 hours, even after severe storms.
Consumers Energy put that plan into action, reducing the length of the average customer outage last year during normal weather to 176 minutes, or under three hours — a 20-minute improvement over the average for the previous five years.
“We are trimming trees, using technology, and burying more power lines to build a power grid that is reliable in all weather,” says Greg Salisbury, vice president of electric distribution engineering at Consumers Energy. “We all saw the threat from severe weather, in the form of intense back-to-back storms just last month, where we restored power to most customers in less than 24 hours, which makes us even more determined to make outages as infrequent and as short as possible.”
For more information, visit ConsumersEnergy.com.
In related news: The American Water Resources affiliate of Oncourse Home Solutions in Naperville, Ill. has agreed to acquire Consumer’s Energy’s Consumers Energy Appliance Service Plan business. The transaction is expected to close in the first half of 2024, subject to customary closing conditions.
Flint-based Butter Unveils New THC-infused Chocolate Hazelnut Spread
Flint-based Butter has launched a new THC-infused Chocolate Hazelnut spread, just in time for Valentine’s Day.
The spread is the latest in a line of spreadable edible creations. The company released a THC-infused ghee (clarified butter) in December 2023.
Each container of the new spread is infused with 200mg of live rosin (5g/10mg of THC serving size) and comes in a recycled glass jar. The dosage gives a long-lasting, feel-good high that’s similar to many edibles. The spread is crafted by infusing cannabis extracts into a high-quality chocolate hazelnut butter blend — like grocery store spread, with an adult twist.
The spread retails for $25. At launch, and will be available exclusively at butter’s Ann Arbor location and Berkley flagship dispensary. Later this month, the product will hit shelves at select retail partners.
For more information, visit butterworld.com.
Illinois Company Acquires Traverse City’s Old Mission Windows
US LBM, an Illinois-based distributor of specialty building materials, has acquired Old Mission Windows, in Traverse City. Terms of the transaction were not disclosed.
Founded in 1985, Old Mission Windows distributes windows and doors to residential homebuilders and contractors throughout northern Michigan. With this acquisition, US LBM expands its product offering and reach to support professional builders and remodelers in the northern part of Michigan’s lower peninsula, which consists of several growing communities and popular coastal vacation destinations along Lake Michigan.
US LBM now operates 21 locations in Michigan as part of its Standard Supply and Zeeland Lumber division, which includes Northern Building Supply in Traverse City and Suttons Bay.
Oregon State Credit Union Selects Detroit-based Bankjoy’s Online Platform
Oregon State Credit Union has partnered with Detroit-based digital banking provider, Bankjoy to deliver a “frictionless and intuitive onboarding experience” for members, whether they are opening a new account or applying for a loan.
Oregon State Credit Union will use Bankjoy’s standalone Online Account Opening and Online Loan Application product suite.
Featuring a 90-second onboarding process, Bankjoy’s Online Account Opening verifies a user’s identity through ID upload and selfie matching for secure and efficient account opening. The onboarding process is designed for mobile, online, and in-branch channels, which gives members the option to enroll via their preferred device or channel. With Bankjoy, Oregon State Credit Union can customize the account opening experience by configuring workflows to include account funding, types of accounts, and more, providing the credit union with unmatched flexibility.
In addition to Online Account Opening, Oregon State Credit Union will implement Bankjoy’s Online Loan Application to provide prospective borrowers with an intuitive online and mobile loan application experience. As a result, potential borrowers can apply for a loan on their preferred device at any time, even outside of branch hours. Bankjoy’s Online Loan Application will allow the credit union to capture more loan opportunities and expand its market reach while offering a superior application experience.
FlavorSum Opens Kalamazoo Expansion, Adds NJ Innovation Center
FlavorSum, a North American flavor producer, completed construction and opened a 35,000-square-foot expansion at its Kalamazoo facility. The increased footprint enhances the site’s emulsion, extraction, and warehousing capacity and includes investment in process automation to increase efficiency, quality, and safety.
The on-site Innovation Center’s pilot plant has new UHT and HTST processing capabilities that support FlavorSum’s Dairy Center of Excellence.
“We remain focused on reducing the headaches associated with flavor sourcing and new product development,” says Brian Briggs, president and CEO of FlavorSum. “We continue to build our capabilities and resources as the go-to flavor solutions partner for small, mid-sized and emerging food and beverage companies. We’re grateful for the Michigan Economic Development Corp.’s shared commitment to the expansion that will deliver economic growth benefits to Michigan and the Kalamazoo region.”
In addition to Innovation Centers in Kalamazoo and Mississauga, Ontario, Canada, FlavorSum is opening a 10,000-square-foot Innovation Center in Marlton, N.J. The center has an expanded flavor creation lab and analytical and application spaces to facilitate collaborative sessions with a technical team. The N.J. Innovation Center also will house the Beverage Center of Excellence that features pilot capabilities for carbonation, canning, tunnel pasteurization, and hot filling.
Texas Company Acquires Midwest Glass Fabricators in Highland Township
Oldcastle BuildingEnvelope Inc. in Dallas has acquired Midwest Glass Fabricators Inc. in Highland Township. Terms of the deal were not disclosed.
Founded by the Iaquinto family in 1989, Midwest Glass is a leading glass fabricator in the Midwest. It specializes in manufacturing commercial and consumer architectural glass products.
“Midwest Glass has built an impressive business rooted in exceptional product quality, reliability and customer service,” says Bruno Biasiotta, CEO of OBE. “Our customers and partners will benefit from the combined expertise of OBE and Midwest Glass through a broader portfolio of products, expanded geographic coverage and access to OBE’s industry-leading tools and services.”
Pat Iaquinto, co-Founder of Midwest Glass, says: “Joining OBE is a transformational milestone for Midwest Glass. This partnership will provide growth opportunities for our employees and enhance our ability to continue serving our loyal customer base built over three decades.”
Ann Arbor’s C3 Industries Opens of First High Profile Dispensary in Illinois
Ann Arbor-based cannabis company C3 Industries has opened its first retail location in Illinois, High Profile Springfield, its 23rd dispensary nationwide.
C3 will host High Profile Springfield’s official grand opening celebration on Feb. 9 at 4:20 p.m. CST, which will feature product specials, vendor tables, and food trucks.
“We are thrilled to open our first dispensary in Illinois’ state capitol, and to begin serving the Springfield community with a wholly unique cannabis experience,” says Ankur Rungta, co-founder and CEO of C3 Industries. “The opening of our 23rd dispensary nationwide reinforces our commitment to serving communities with high-quality, accessible cannabis offerings in a welcoming space where customers can feel educated, supported and valued. As we continue to expand C3’s operations and enter new markets across the country, we remain dedicated to quality, innovation and customer satisfaction, and our newest location will uphold these values.”
For more information, visit here.
