Why developers turn apartments into condos, hotels // Trying Craig's Coffee

Happy Friday! Three topics for today’s show:

>> What we’re drinking: Craig’s Coffee. The independent shop recently opened on Peterboro near Cass, and Devon popped in to try it and bring some to the studio (NOT sponsored)

Thanks to today’s sponsor, Castalia at Sfumato. https://www.castaliacocktails.com/

Stories:

>> There’s a change in rail proposals that would connect Toledo, Cleveland, Metro Airport and Detroit via Amtrak. Literally, thanks Ohio – as it’s part of a wider plan lobbied by one of their Senators. https://www.crainsdetroit.com/transportation/amtrak-proposal-would-link-detroit-dtw-toledo-cleveland

 https://www.brown.senate.gov/newsroom/press/release/sherrod-brown-announces-first-step-expanding-amtrak-ohio

>> With the conversion of the Hammer and Nail building from apartments to an extended stay hotel, it’s the perfect opportunity to discuss why developers may take the apartments they built off the market and convert them (commonly) to condominiums or extended stay hotels. Since the condo market in Detroit is pretty soft, extended hotel stay it is… and Devon even used to live in this building a few years ago.

More: https://www.freep.com/story/money/business/2023/12/05/midtown-detroit-office-tower-plaza-marriott-hotel/71811326007/

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