Detroit Business News
BUSINESS NEWS
Greektown’s Urban Renovation Project Gears Up for the Lions Season
News Summary As the Detroit Lions prepare for the upcoming season, Greektown is undergoing a $20 million renovation project aimed at creating a vibrant, pedestrian-friendly area. With Monroe Street closed...
Detroit Celebrates Contributions of Jewish Pharmacists
News Summary Detroit recently held an event honoring Jewish pharmacists and community leaders, showcasing their pivotal role in the city’s healthcare and business landscape. Attendees shared personal stories reflecting the...
Apple to Open New Store in Downtown Detroit
News Summary Apple Inc. has unveiled plans for a new store opening in downtown Detroit on September 19, 2025. Located at 1430 Woodward Avenue, the store will launch with new...
Kresge Foundation to Relocate Headquarters to Detroit
News Summary The Kresge Foundation is moving its headquarters from Troy to the Marygrove College site in Detroit, with a $180 million investment aimed at revitalizing local neighborhoods. The new...
Kresge Foundation Begins Construction of New Headquarters in Detroit
News Summary The Kresge Foundation is set to begin construction on a new headquarters in Detroit, marking a significant commitment to neighborhood revitalization. The 70,000 square feet facility will support...
Revitalization and Development in Detroit: Kresge Foundation’s New Headquarters
News Summary Detroit is undergoing a significant transformation with a $180 million investment from the Kresge Foundation, focusing on home remodeling and community enhancements. Relocating its headquarters to the Marygrove...
Building Community Prosperity through Home Renovation in Detroit
News Summary The collaboration between Comerica Bank and the Detroit Lions offers a significant boost to local small businesses, particularly in home repair and renovation. The Small Business of the...
Renovation of Historic Beaver Head Lighthouse Underway
News Summary The Beaver Head Lighthouse in Michigan is undergoing significant renovations set to complete by fall 2025. Once a decommissioned lighthouse, it will soon become a public museum, enhancing...
Renovation Plans for Kale’s Korner to Enhance Grand Rapids Dining
News Summary Kale’s Korner, a historic bar and restaurant in Grand Rapids, is set for a major renovation under new ownership. The plans include a complete overhaul of the kitchen...
Finance
PepsiCo to Close Detroit Manufacturing Facility, Lay Off 83 Employees
News Summary PepsiCo has announced the closure of its manufacturing operations at the Detroit facility, affecting 83 employees by September 27, 2025. The layoffs will impact various roles while other...
PepsiCo Announces Layoffs at Detroit Manufacturing Plant
News Summary PepsiCo has announced the termination of 83 employees at its Detroit manufacturing plant as part of a strategic move to streamline operations. The layoffs, effective September 27, impact...
Detroit’s Economic Growth Forecast Shows Modest Progress
News Summary Recent insights by economists from the University of Michigan reveal that Detroit is projected to experience modest economic growth over the next five years. While the city recovers...
PepsiCo to Lay Off Employees at Detroit Plant
News Summary PepsiCo has announced it will lay off 83 employees as it shuts down its Detroit manufacturing plant, effective September 2025. The decision affects multiple workers, with the company...
Detroit Launches Round 2 of the Legacy Business Project
News Summary Detroit has initiated Round 2 of the Legacy Business Project, providing $310,000 in grants for long-established businesses. The initiative supports firms that have played a crucial role in...
Ally Financial Grants Over $1.6 Million for Workforce Development
News Summary Ally Financial Inc. has announced a commitment of more than $1.6 million in grants to support workforce development initiatives across 57 nonprofit organizations in Detroit and Charlotte. Nearly...
CBD Detroit Apartments Enters Receivership Amid Market Decline
News Summary CBD Detroit Apartments, a luxury complex at 313 Park Ave, has entered court-ordered receivership after owner Jonathan Holtzman defaulted on an $84 million loan. With current occupancy at...
Detroit’s Economic Transformation and Ongoing Challenges
News Summary Detroit is witnessing a significant transformation with the completion of new skyscrapers, the return of the Pistons, and rising property values, suggesting economic recovery. Yet, many long-standing residents...
Detroit Launches New Initiative to Support Local Startups
News Summary Detroit has announced the Detroit Startup Fund, a program designed to support local tech businesses with grants up to $50,000. The initiative, backed by $700,000 from the city’s...
CONSTRUCTION
Greektown’s Urban Renovation Project Gears Up for the Lions Season
News Summary As the Detroit Lions prepare for the upcoming season, Greektown is undergoing a $20 million renovation project aimed at creating a vibrant, pedestrian-friendly area. With Monroe Street closed...
Kresge Foundation Begins Construction of New Headquarters in Detroit
News Summary The Kresge Foundation is set to begin construction on a new headquarters in Detroit, marking a significant commitment to neighborhood revitalization. The 70,000 square feet facility will support...
Revitalization and Development in Detroit: Kresge Foundation’s New Headquarters
News Summary Detroit is undergoing a significant transformation with a $180 million investment from the Kresge Foundation, focusing on home remodeling and community enhancements. Relocating its headquarters to the Marygrove...
Building Community Prosperity through Home Renovation in Detroit
News Summary The collaboration between Comerica Bank and the Detroit Lions offers a significant boost to local small businesses, particularly in home repair and renovation. The Small Business of the...
Renovation of Historic Beaver Head Lighthouse Underway
News Summary The Beaver Head Lighthouse in Michigan is undergoing significant renovations set to complete by fall 2025. Once a decommissioned lighthouse, it will soon become a public museum, enhancing...
Renovation Plans for Kale’s Korner to Enhance Grand Rapids Dining
News Summary Kale’s Korner, a historic bar and restaurant in Grand Rapids, is set for a major renovation under new ownership. The plans include a complete overhaul of the kitchen...
Revitalizing Detroit: The Future of Home Renovation
News Summary Detroit is witnessing a resurgence in home renovation projects, driven by HGTV’s new series ‘Condemned’, which highlights the restoration of blighted properties. The series, featuring the Pattersons, showcases...
Renovation Plans for the Skillman Branch of the Detroit Public Library
News Summary The Rose and Robert Skillman Branch of the Detroit Public Library is set for a $3 million renovation after being closed since 2020. Improvements include replacing broken windows,...
Transforming Spaces: Insights from the Bismarck-Mandan Home Show
News Summary The 48th Annual Bismarck-Mandan Home Show showcased the latest trends in home improvement, offering homeowners an opportunity to explore innovative designs, connect with professionals, and gather inspiration for...
Real Estate
Kresge Foundation to Relocate Headquarters to Detroit
News Summary The Kresge Foundation is moving its headquarters from Troy to the Marygrove College site in Detroit, with a $180 million investment aimed at revitalizing local neighborhoods. The new...
CBD Detroit Apartments Enters Receivership Amid Market Decline
News Summary CBD Detroit Apartments, a luxury complex at 313 Park Ave, has entered court-ordered receivership after owner Jonathan Holtzman defaulted on an $84 million loan. With current occupancy at...
Forgotten Harvest Awards $4.5 Million to Combat Food Insecurity
News Summary Forgotten Harvest, a food rescue nonprofit in Metro Detroit, has concluded its three-year Agency Capacity Grant Program, awarding $4.5 million to local food distribution partners. The initiative aims...
Detroit Executive Plaza Acquired for Redevelopment
News Summary Blackacre Management has acquired the Detroit Executive Plaza for $5 million, a significant redevelopment milestone in Corktown. Plans are in place to transform the site into Wayne Lofts,...
Detroit Faces Affordable Housing and Child Care Challenges
News Summary Detroit is confronting severe issues related to affordable housing and child care services. The recent opening of La Joya Gardens, an affordable housing complex, is part of a...
NoMad Hotels to Open Luxury Hotel in Detroit
News Summary NoMad Hotels is set to open a new location in Detroit at the historic Michigan Central Station in 2027. The hotel will feature 180 guest rooms, including suites,...
Detroit Native Jeff Swaney Shares His Memoir
News Summary Jeff Swaney, a Detroit-born entrepreneur and tech engineer now in Dallas, releases his memoir ‘None of the Answers.’ He will promote the book in Metro Detroit with his...
Detroit Sees Growth in New Housing Developments
News Summary Detroit is witnessing a notable increase in the inventory of newly constructed homes, particularly upscale townhomes and single-family houses, especially in the greater downtown area. While the starting...
Detroit’s Housing Market Sees Growth in New Developments
News Summary Detroit’s inventory of newly constructed homes is experiencing a modest rise, particularly in upscale townhomes and single-family homes. New developments are attracting demand from professionals preferring proximity to...
