This may help to explain a little bit of why there has been so little happening with so many projects lately...
http://www.crainsdetroit.com/article...strategy-shift
"The Ilitch family's Olympia Development of Michigan is hiring, attempting to poach talent from other real estate companies in the region.
This comes in the two months following the company quietly bringing into the fray a former Walt Disney Co. executive to oversee the family's District Detroit project as its senior vice president of operations and development.
Keith Bradford had been vice president of the rebranded and expanded Downtown Disney, where his
LinkedIn profile says he added more than a dozen restaurants and 70 retail locations as the entertainment and theme park juggernaut broadened the area to allow not only Disney-related but also third-party retail and restaurants.
He comes to Detroit, 1,200 miles to the north, following what a source said was the departure of Baltimore-based Cordish Cos., the national developer and arena district specialist, from its work on The District Detroit earlier this year. Cordish
had been working with Olympia since at least 2016 on the effort, although there had been tension between the two companies in recent months, another source said."
"The
half-dozen multifamily projects totaling nearly 700 units announced a year ago are in a state of flux as a developer struggles to secure financing to redevelop the United Artists Building at 150 Bagley St., and American Community Developers is no longer working on three redevelopments and two new construction projects that were to comprise approximately 80 percent of the total unit count.
One of those three redevelopments, the Hotel Eddystone at 100 Sproat St., faces a looming Sept. 12 deadline that will be missed to redevelop the windowless tower. Olympia says it plans to install windows next month. The fate of the other two — the Hotel Fort Wayne at 408 Temple St. and the Alhambra Apartments at 100 Temple St. — is not known now that ACD is no longer involved. Late last week, boards were placed over window openings at the Hotel Fort Wayne."