Month: June 2016
Costco Coming to TC!
By this time next year, two major anticipated new retailers – Costco and Lucky’s Market – aim to welcome shoppers through their doors in Traverse City. The Ticker has the latest updates on both projects.
Cherry Capital Airport officials will appear before Grand Traverse County commissioners Wednesday to obtain new agreements that will allow the airport to finalize a 20-year lease with Costco.
The Northwest Regional Airport Commission (NRAC), which oversees airport operations, reached a deal with Costco on lease terms May 24. The contract calls for Costco to rent 18.3 acres of airport property for 20 years, at a cost of $167,401 per year. Costco has the right to renew the lease in 5-year increments for another 40 years, with rent increasing 7.5 percent each renewal. If the store remains on site for the full 60 years, its total lifetime rent will equal $12.7 million – income that will fund airport operations.
The deal, however, requires guarantees from Grand Traverse County and Leelanau County commissioners that Costco can remain on-site for the life of the lease. The counties own the airport property and have an agreement with NRAC to manage it – but that agreement expires in 2040.
“Costco just wants reassurance that if for some reason the counties ever terminate their agreement with the airport commission, they will still honor (the store) as a tenant,” explains Cherry Capital Airport Director Kevin Klein.
Local officials already approved zoning changes that will allow Costco to build an approximately 154,000 square-foot store on the property. Klein says once the lease contingencies are resolved, Costco will move ahead with submitting design plans to the city, completing necessary environmental studies, and pulling permits. The retailer is already working with the Grand Traverse County Road Commission on any potential lane or intersection changes required on South Airport Road to accommodate store traffic, says Klein, and plans to begin foundational work and site construction this fall.
“They’re looking to open in 2017 – hopefully by this time next year,” says Klein.
After several months of delays, demolition is now underway on the vacant 26,000 square-foot building in Buffalo Ridge Center that is the planned future site of a new Lucky’s Market.
The organic and natural foods chain is in the midst of a significant national expansion – a growth model that focuses on deploying company resources to one new store at a time, with the remaining sites (like Traverse City’s) waiting in a queue.
“We currently have the majority of our team members focused on other stores, but will soon ramp up and be able to send more resources to Traverse City,” Lucky’s spokesperson Krista Torvik tells The Ticker. “We can’t wait to open in Traverse City and be a part of the community.”
Property developer Joe Sarafa says Traverse City is the ninth new store location Lucky’s is planning this year, and notes the site was turned over to the retailer January 4. “By our schedule, they’re behind 90 days, but that’s not by their schedule,” he says. Now that Lucky’s has begun demolition work on the property, construction will likely begin either later this month or early July, according to Sarafa.
“After that, they should be open in about six months,” he says.
Written by: by Beth Milligan
Detroit Landlords Get A Firm Warning
The city on Friday put out a call to Detroit landlords to register their rental properties ahead of stepped-up enforcement next year.
Mayor Mike Duggan warned the city is gearing up for “a serious enforcement period” in January for rental owners who fail to register and undergo required city inspections.
“We have an ordinance that requires you to register your properties — nobody has enforced that in years. We are going to get back to that,” Duggan told a crowd of more than 100 current and prospective landlords at City Hall.
“What we’re trying to figure out how to do is take the strong landlords and help them grow and succeed and thrive, and take those who are abusing the system and not make it attractive for you to stay in the city. We are giving you notice now.”
The Friday seminar is believed to be the first of its kind for Detroit as officials ramp up efforts to get owners of rental homes or apartments to gain compliance with the regulations.
David Bell, director of the city’s Buildings Safety Engineering & Environmental Department, said officials want landlords with vacant rentals to get them registered within 30 days. For occupied properties, they want them to begin the process immediately.
Landlords are required to register with the building department and get annual certificates of compliance showing they are safe and inhabitable.
The majority of rentals, though, aren’t registered. The city has about 2,500 rental addresses registered, while U.S. Census data estimate there are more than 136,000 rental housing units in the city.
Failure to register or get a certificate of compliance are both punishable by $250 fines, officials said.
Duggan on Friday said he plans to ask Detroit’s City Council to sign off on an ordinance amendment that would require rental owners be current on property taxes to obtain a certificate of compliance for their properties in 2017.
The city is also slated to go live with an online database that will show all of Detroit’s rental properties with the proper certificates and approvals, he said.
“I envision a city in 2017 where every single tenant in this city can go online and in a minute find out whether their rental property is legally authorized and operating in the city,” Duggan said. “But we’re saying here today: Get a head start on this before the rush is coming.”
Rich Salem and Peter Sirr own about a dozen single-family rentals in the city and their Royal Oak-based management company oversees another 150 to 175 homes, primarily in Detroit.
The pair said they’ve already been working to register the homes with the city and came out Friday to learn more.
“Personally, I look at this and think it’s a great thing. You can eliminate all the slum landlords,” said Sirr, of Preferred Homes Michigan. “If you do everything the right way it’s going to cost you a few extra bucks, but it’s not a big deal.”
Duggan noted the city’s land bank owns about 30,000 vacant houses. About 5,000 of the properties could be rehabbed and another 5,000 are occupied with squatters, former homeowners or renters with landlords who failed to pay taxes.
“People who are tenants who were paying rent to a landlord every month had no idea the landlord wasn’t paying taxes,” he said. “…we can’t let this continue to happen.”
The Friday presentation gave attendees tips on crime prevention, squatters, fire and lead safety. Officials also distributed registration steps and requirements and inspections information.
The city launched pilot programs in East English Village and the Bagley neighborhoods to boost registration and inspections.
To help identify landlords, Bell has said the city is using records from the Detroit Water and Sewerage Department.
“We are here to partner with you to increase the quality of life in Detroit,” Bell said. “For too long its been an adversarial relationship and it doesn’t have to be that way. We can’t bring this city back without you.”
Detroit resident and landlord James Lovejoy said he’s worried about the financial impact the changes will have on property owners and tenants.
“I’ve got a property and I’m already charging a set amount of rent, and now the city comes and hands me a bill for inspections,” said Lovejoy, who has three occupied rentals. “I’ll get it all up to code but now the taxes are raised up and I’m going to have to raise my rent on the tenants. People are already struggling to pay rent.”
To register properties online, visit the city’s website.
Written by: Christine Ferretti. http://www.detroitnews.com/staff/27525/christine-ferretti. Staff writer Christine MacDonald contributed.
20 Designer Ways to Upgrade Your Rental
Dying to upgrade your rental and still get your deposit back? Our expert tips will give you the style (and storage!) you’re craving!
For some people, the thought of being surrounded by four off-white walls is simply unbearable. And for others, it’s just plain boring. As removable wallpaper becomes more popular, the designs become more stylish and more affordable. It might just be time to pick out your perfect pattern!
You’re certainly not going to change the electrical work in your rental, so you may be forced to live with some oddly-placed lights, light switches or power outlets. Carmel from Our Fifth House solved this problem by camouflaging a light switch within a tasteful gallery wall.
Glitz and Glam
Washi tape is great, but it certainly isn’t the only tape out there that can make a big impact in your home. It only took Dina from Honey & Fitz two rolls of gold duct tape to turn a basic white fridge into a glitzy showstopper.
Love Your Lighting
One of the worst things about rental units has got to be the outdated light fixtures. Luckily, this is also one of the easiest switches. Simply swap out that light fixture for something more your style. Just be sure to reattach the original fixture before moving out.
Camo and Custom Shelving
Radiators are not attractive; it’s as simple as that. But covering a radiator is not always so simple. Luckily, Marian from Miss Mustard Seed shares her beautiful solution. Her custom radiator cover not only disguises the unit, but it even adds extra storage in an often tight space.
Not Your Daughter’s Washi Tape
Did you think washi tape was just for the kiddos? Think again. With so many attractive styles to choose from, you’re bound to find a roll that suits your taste. These washi tape frames add a colorful touch to any space. Opt for cool geometric shapes to give your home even more personality.
Washi Accent Wall
A washi tape wall can be as colorful or as subdued as you like. Emily from Everything Emily created this stunning accent wall with just two rolls of black washi tape. The best part? She completed the project for less than $10.
Sneaky Stainless Makeover
Older appliances might work just fine, but that doesn’t mean you should have to live with a dated design in your cooking space. Julie Blanner found an ideal solution in the form of stainless steel contact paper. For around $5, this change has the power to totally transform your kitchen. In fact, the landlord may even ask you to leave it up.
If you’re hoping to add a homey feel to your rented space, simply adding a few plants around the house might do the trick. This fiddle leaf fig tree adds life and texture to the living room. And for an added bonus, plants help purify indoor air. (No more mystery smell from renters past.)
Gallery Wall Paper
If you can’t wallpaper your rental, then why not try framing your favorite wallpaper instead? Marianne Canada from HGTV Crafternoon recommends getting a sample of your favorite print and displaying it in a gorgeous frame. Now you can have your wallpaper and your rental deposit, too!
Do you secretly long for a wall of custom built-ins, knowing that your landlord would recoil at the thought? These industrial shelves from Fixer Upper offer plenty of shelf space and can be attached with just a few screws.
Shower in Luxury
One change that makes a huge difference, but is often overlooked, is the showerhead. This is one of those upgrades that is worth spending some extra dough. After all, when you’re ready to move, simply reattach the old fixture and take yours to your new abode. Make barely-drizzling showerheads a thing of the past!
Boring Blinds Be Gone
Bland blinds have the power to make any room feel like a cheap motel. Even if you have to leave them up, patterned drapes layered on top can take your window treatments to a whole new level.
Separate in Style
If you can’t paint the walls, changing the basic structure of the room is obviously out of the question. That’s where room dividers come in handy. Create a home office or give the kids their own play space in a single bedroom.
An Easy Switch
A great way to add some personality to your rented space is to simply switch out those basic door knobs with some that suit your taste. Just make sure you switch back to the originals before you move out.
Rugs on Rugs on Rugs
Let’s talk floors. Scratched hardwood and stained carpet are just the beginning. Before moving in, it never hurts to have the floors professionally cleaned. But if they still look like a mess, area rugs will be your new best friend. Place them over hardwood and even over carpet for a clean, updated look that is all you.
If you like the duct tape idea, you’ll love this stylish door by Stacie from Stars for Street Lights. Some quick measuring, a steady hand and a bit of electrical tape totally transformed these contractor-grade doors. The result is nothing short of fabulous!
Fabric Feature Wall
While you’ve probably heard of removable wallpaper, removable fabric wallpaper is another great option for renters. It peels right off, and has the potential to add a ton of color, pattern and even texture to your home. Learn how to install it here.
Practical Pantry Additions
Another excellent idea for extra space is an over-the-door pantry unit. You can maximize the space on the back of the pantry door with only a few screws. Warning: Some landlords are more than fine with storage additions like this one, but you may be asked to leave it behind when you move.
Want more space instantly? Add a large mirror to any room, and the visual effect is bound to make your space feel bigger and brighter, all without knocking down a single wall.
Let Rental Management One find your next rental home. Visit us at http://www.rentalmanagementone.com!
Written By: Keri Sanders | click here for original article