Real estate listings show that two of the four condo units on the top floor of The Exchange in downtown Detroit's Greektown neighborhood sold on July 10, totaling $2.9 million.
Detroit City Council delayed voting on a $616.3 million transformational brownfield tax incentive for the $1.53 billion District Detroit proposal by the Ilitch family and Stephen Ross.
The program allows for developers who meet certain project cost thresholds in Detroit's case, $500 million at a minimum to apply to capture various state taxes, some short term and some long term.
A series of developments and redevelopments in the Ilitch family's District Detroit area is seeking $616 million in so-called "transformational brownfield" funding, which until now has been mainly given to Dan Gilbert projects in Detroit.