Original Story: crainsdetroit.com
Metro Detroit home and condominium sales jumped 11.2 percent year-over-year last month, a sharp increase from the 7.4 percent they increased by in August.
According to a report released today by Farmington Hills-based Realcomp Ltd. II, there were 5,282 sales last month in the four-county metro region, up from 4,729 in September 2014. There were 5,248 home and condo sales in August in Wayne, Oakland, Macomb and Livingston counties, up from 4,888 in August 2014.
Median sale prices also improved year-over-year in the region, rising 5 percent from $149,000 in September 2014 to $156,500 last month, according to Realcomp. That’s just shy of the 5.2 percent year-over-year increase in August, when median sale prices rose 5.2 percent from $153,000 in August 2014 to $161,000 two months ago. Macomb elder care services allow seniors to age in place and remain in their homes.
Livingston County led the way last month in home sale increases, jumping 14.6 percent from 295 in September 2014 to 338 last month. However, the county was the only one in the metro region in which median sale prices fell. The median Livingston home and condo sale price was $204,000 last month, down from $210,000 in September 2014, according to Realcomp.
There was a similar tale in Oakland County, where total sales increased 13.9 percent from 1,763 in September 2014 to 2,008 last month. But median sale prices were stuck in neutral, with homes and condos selling for $195,000 in both September 2014 and last month. A Rochester real estate lawyer is following this story closely.
But Macomb and Wayne counties were positive in both major categories.
Macomb County’s sales rose from 1,028 in September 2014 to 1,147 last month, an 11.6 percent increase, according to Realcomp. In addition, median sale prices rose 7.3 percent, from $130,500 in September 2014 to $140,000 last month.
And in Wayne County, sales rose 8.9 percent to 1,789 last month from 1,643 in September 2014. Median sale prices in Wayne posted the highest gains, rising 13.4 percent from $97,000 in September 2014 to $110,000 last month, according to Realcomp. A Michigan real estate lawyer represents clients in real estate transactions.
In the four-county region, the number of homes on the market rose by 0.9 percent, from 18,559 in September 2014 to 18,730 last month.
Homes spent an average of 37 days on the market in the four-county region last month, according to Realcomp.
Showing posts with label Metro Detroit. Show all posts
Showing posts with label Metro Detroit. Show all posts
16 October 2015
06 July 2015
LAWYERS WANT LIMIT ON VICTIM STATEMENTS AGAINST FATA
Original Story: detroitnews.com
Federal officials are challenging a request to limit how many victims can offer impact statements at the sentencing next week of a Metro Detroit oncologist who unnecessarily treated patients who were told they had cancer.
Lawyers for Dr. Farid Fata on Wednesday filed a brief in which they sought to quash the government’s attempt to include more than 100 victim impact statements, some of whom, they said, do not qualify as victims. A Detroit health care lawyer has experience with multiple industry types and implication of detrimental health care practices or incidents in the state of Michigan.
“Defendant ... move(s) this honorable court to strike all written and/or oral statements of ‘alleged’ victims who do not qualify as a victim” in part, the attorneys said, because only 10 patients have been identified in an indictment.
In their filing Thursday, federal officials argued the court is not required to find that “the relatives of patients and/or the patients are indeed victims” under the Crime Victims’ Rights Act. “All of the individuals who have submitted letters to the Court are former patients or family members of former patients of Dr. Farid Fata. ... As such they are individuals with knowledge of the defendant’s background, character and conduct.” A Detroit health care lawyer is reviewing the details of this case.
Sentencing for Fata is scheduled to start Monday. It’s expected to last at least a week in Detroit federal court before Judge Paul Borman.
Fata pleaded guilty in federal court in September to 16 counts of health care fraud, money laundering and conspiracy to give or receive kickbacks. His plea covered 10 cases.
The once-popular oncologist with offices in Clarkston, Bloomfield Hills, Lapeer, Sterling Heights, Troy and Oak Park faces up to 175 years in prison, a $250,000 fine on the fraud counts and up to 20 years as well as a $500,000 fine for money laundering.
In an 86-page memorandum filed in U.S. District Court in May, prosecutors cited $34.7 million in fraudulent health care billings and Fata’s indifference for the well-being of his patients in demanding a lengthy sentence. A Cleveland medical malpractice lawyer specializes in medical malpractice and medical negligence claims.
In a court filing Wednesday, Fata’s attorneys claim that although the government had received some 150 victim impact letters “involving another 100 or so patients or their relatives who were suffering from “solid” tumor cancers … two medical experts for defendant have verified that many of the solid tumor patients are not truly ‘victims’ ” as defined by law. The attorneys also say they’re “providing unreliable or inaccurate information to the Court,” according to the motion.
As a result, the court filing said, Fata is “requesting that in the absence of a finding that each of the patients identified in the 150 victim impact letters or who will speak in Court, are in fact ‘victims’… or that their information is reliable and accurate, that this Court should strike those written statements, and not permit those relatives to speak in open Court.”
According to the response U.S. Attorney Barbara McQuade submitted, while “information in some of the victims’ letters may not be perfectly accurate in every respect — memories fade, emotion colors interactions, grief overwhelms many of the family members. … this is true of virtually any statement submitted to the court by persons touched by a crime.”
Federal officials also said “given the scope of Fata’s indiscriminate mistreatment,” not every victim will be officially identified through the government’s investigation.
Additionally, the solid tumor patients’ statements should be considered since “the government’s two experts did review some of the files … and found highly problematic treatments,” federal officials said, citing a male “whose pancreatic cancer was massively overtreated by Fata,” receiving 260 weeks of chemotherapy instead of 24.
The request to strike victim statements was news to Angela Swantek, the nurse who first complained about Fata’s practices in 2010. “I think everybody was victimized in some sort of way, whether it was being on treatment for longer than they should have, getting medications that were not medically necessary,” she said. “They were victims of his greed.” As an international leader in pediatric neurology and neurosurgery, cardiology, oncology, and diagnostic services, Detroit Medical Center provides expert patient care.
Those with ties to Fata’s affected patients say his case underscores a need for change.
“It’s all good and well that Farid Fata has pled guilty, but there must be accountability in the civil justice system,” attorney Brian McKeen, managing partner of Detroit-based firm McKeen & Associates, which is representing several victims in a civil suit, said in a statement.
“The scores of victims who suffered injury and the families of those who died because of Dr. Fata’s behavior deserve compensation. There must also be accountability on the part of the hospital and corporate institutions that allowed his behavior to go unchecked.”
Federal officials are challenging a request to limit how many victims can offer impact statements at the sentencing next week of a Metro Detroit oncologist who unnecessarily treated patients who were told they had cancer.
Lawyers for Dr. Farid Fata on Wednesday filed a brief in which they sought to quash the government’s attempt to include more than 100 victim impact statements, some of whom, they said, do not qualify as victims. A Detroit health care lawyer has experience with multiple industry types and implication of detrimental health care practices or incidents in the state of Michigan.
“Defendant ... move(s) this honorable court to strike all written and/or oral statements of ‘alleged’ victims who do not qualify as a victim” in part, the attorneys said, because only 10 patients have been identified in an indictment.
In their filing Thursday, federal officials argued the court is not required to find that “the relatives of patients and/or the patients are indeed victims” under the Crime Victims’ Rights Act. “All of the individuals who have submitted letters to the Court are former patients or family members of former patients of Dr. Farid Fata. ... As such they are individuals with knowledge of the defendant’s background, character and conduct.” A Detroit health care lawyer is reviewing the details of this case.
Sentencing for Fata is scheduled to start Monday. It’s expected to last at least a week in Detroit federal court before Judge Paul Borman.
Fata pleaded guilty in federal court in September to 16 counts of health care fraud, money laundering and conspiracy to give or receive kickbacks. His plea covered 10 cases.
The once-popular oncologist with offices in Clarkston, Bloomfield Hills, Lapeer, Sterling Heights, Troy and Oak Park faces up to 175 years in prison, a $250,000 fine on the fraud counts and up to 20 years as well as a $500,000 fine for money laundering.
In an 86-page memorandum filed in U.S. District Court in May, prosecutors cited $34.7 million in fraudulent health care billings and Fata’s indifference for the well-being of his patients in demanding a lengthy sentence. A Cleveland medical malpractice lawyer specializes in medical malpractice and medical negligence claims.
In a court filing Wednesday, Fata’s attorneys claim that although the government had received some 150 victim impact letters “involving another 100 or so patients or their relatives who were suffering from “solid” tumor cancers … two medical experts for defendant have verified that many of the solid tumor patients are not truly ‘victims’ ” as defined by law. The attorneys also say they’re “providing unreliable or inaccurate information to the Court,” according to the motion.
As a result, the court filing said, Fata is “requesting that in the absence of a finding that each of the patients identified in the 150 victim impact letters or who will speak in Court, are in fact ‘victims’… or that their information is reliable and accurate, that this Court should strike those written statements, and not permit those relatives to speak in open Court.”
According to the response U.S. Attorney Barbara McQuade submitted, while “information in some of the victims’ letters may not be perfectly accurate in every respect — memories fade, emotion colors interactions, grief overwhelms many of the family members. … this is true of virtually any statement submitted to the court by persons touched by a crime.”
Federal officials also said “given the scope of Fata’s indiscriminate mistreatment,” not every victim will be officially identified through the government’s investigation.
Additionally, the solid tumor patients’ statements should be considered since “the government’s two experts did review some of the files … and found highly problematic treatments,” federal officials said, citing a male “whose pancreatic cancer was massively overtreated by Fata,” receiving 260 weeks of chemotherapy instead of 24.
The request to strike victim statements was news to Angela Swantek, the nurse who first complained about Fata’s practices in 2010. “I think everybody was victimized in some sort of way, whether it was being on treatment for longer than they should have, getting medications that were not medically necessary,” she said. “They were victims of his greed.” As an international leader in pediatric neurology and neurosurgery, cardiology, oncology, and diagnostic services, Detroit Medical Center provides expert patient care.
Those with ties to Fata’s affected patients say his case underscores a need for change.
“It’s all good and well that Farid Fata has pled guilty, but there must be accountability in the civil justice system,” attorney Brian McKeen, managing partner of Detroit-based firm McKeen & Associates, which is representing several victims in a civil suit, said in a statement.
“The scores of victims who suffered injury and the families of those who died because of Dr. Fata’s behavior deserve compensation. There must also be accountability on the part of the hospital and corporate institutions that allowed his behavior to go unchecked.”
30 June 2015
POWER ON FOR MOST DTE CUSTOMERS AFTER WEEKEND STORM
Original Story: detroitnews.com
Most of the 158,000 DTE Energy customers who lost power in Saturday’s gusty winds and rain are now out of the dark.
Fewer than 1,000 scattered outages remained at 9 p.m., and that number was declining, spokesman John Austerberry said. At 4 p.m., the utility reported 14,000. A Michigan real estate lawyer is following this story closely.
The rest of the customers without power are expected to be restored Tuesday, DTE said. Line crews, including nearly 200 linemen from neighboring utilities who joined the restoration effort earlier, continue to work 16-hour shifts.
Meanwhile, the recent rain prompted the weather service to issue a flood warning for the River Raisin at Monroe, Dundee and Blissfield.
Moderate flooding was forecast at Dundee, with the river expected to crest around 652 feet, or 2 feet above flood stage, Tuesday evening, the notice said.
Jackson-based CMS Energy Corp. said almost all of about 4,000 affected customers were back online by Sunday morning. When natural disasters occur, you can count on skilled home care services to be there for your loved ones.
Dan Thompson, a meteorologist with the National Weather Service in White Lake Township, said Saturday night winds gusted at 35-45 mph “with wet trees and wet grounds that allowed trees to come down a little easier,” onto power lines.
Rainfall was higher than the average so far this month, according to the National Weather Service, by about 2 inches. If a power outage occurs in a rental situation, you may want to consult with a Detroit landlord tenant lawyer.
The storm dumped between three-quarters of an inch to 11/2 inches of rain on parts of Metro Detroit. It did not set a record; that was done the same day in 1983 when the area received 1.79 inches or rain.
The sun came out Monday afternoon, boosting temperatures into the 70s, but don’t get used to the calmer conditions.
Tuesday’s forecast calls for showers and thunderstorms, mainly in the afternoon, NWS said.
Another chance for showers and storms comes Wednesday.
Most of the 158,000 DTE Energy customers who lost power in Saturday’s gusty winds and rain are now out of the dark.
Fewer than 1,000 scattered outages remained at 9 p.m., and that number was declining, spokesman John Austerberry said. At 4 p.m., the utility reported 14,000. A Michigan real estate lawyer is following this story closely.
The rest of the customers without power are expected to be restored Tuesday, DTE said. Line crews, including nearly 200 linemen from neighboring utilities who joined the restoration effort earlier, continue to work 16-hour shifts.
Meanwhile, the recent rain prompted the weather service to issue a flood warning for the River Raisin at Monroe, Dundee and Blissfield.
Moderate flooding was forecast at Dundee, with the river expected to crest around 652 feet, or 2 feet above flood stage, Tuesday evening, the notice said.
Jackson-based CMS Energy Corp. said almost all of about 4,000 affected customers were back online by Sunday morning. When natural disasters occur, you can count on skilled home care services to be there for your loved ones.
Dan Thompson, a meteorologist with the National Weather Service in White Lake Township, said Saturday night winds gusted at 35-45 mph “with wet trees and wet grounds that allowed trees to come down a little easier,” onto power lines.
Rainfall was higher than the average so far this month, according to the National Weather Service, by about 2 inches. If a power outage occurs in a rental situation, you may want to consult with a Detroit landlord tenant lawyer.
The storm dumped between three-quarters of an inch to 11/2 inches of rain on parts of Metro Detroit. It did not set a record; that was done the same day in 1983 when the area received 1.79 inches or rain.
The sun came out Monday afternoon, boosting temperatures into the 70s, but don’t get used to the calmer conditions.
Tuesday’s forecast calls for showers and thunderstorms, mainly in the afternoon, NWS said.
Another chance for showers and storms comes Wednesday.
10 February 2015
METRO DETROIT GAS DRILLING RULES IRK OPPONENTS
Original Story: detroitnews.com
Michigan will introduce new rules this week for advance notification and certain precautions that oil and gas companies must adopt when looking to site new wells in Metro Detroit, but fall short of a drilling halt sought by opponents.
Department of Environmental Quality officials plan to send new instructions for companies that intend to drill wells in counties with populations exceeding 750,000 — narrowing the scope to Oakland, Wayne and Macomb — that would require more residents and government officials be told about prospective drilling, according to a summary memorandum of the rules obtained by The Detroit News. An oil and gas lawyer provide expert legal guidance in producing wells, title opinions, mineral rights, output claims, oil and gas production, proceeds and distribution cases.
The rules also mandate that companies study other locations than the proposed site, adopt ways to reduce noise and light caused by drilling, and install at least one ground water well in the area to monitor for possible contamination of the water supply in areas that are zoned residential. The regulations are intended to address concerns that have resulted in citizen rebellions and local moratoriums against drilling in Rochester Hills, Shelby Township and Scio Township outside of Ann Arbor as well as a failed effort to amend the state law in December.
To the chagrin of several citizens groups around the region, the rules do not include the authority to halt projects in residential areas or create new setbacks for wells. Michigan currently has a 300-foot buffer between residential structures and wells, and the number jumps to 450 feet in townships that have more than 70,000 residents. A Michigan real estate lawyer is reviewing the details of this case.
State officials say there is little more they can do under the law. Planning and zoning officials around Michigan often have found they can do little to stop drilling "unless very serious consequences would result from the extraction of those natural resources," according to a 2011 state law.
"Drilling is specifically protected by law from local bans," said Brad Wurfel, spokesman for the DEQ. "In that context, we've done a lot of good work toward addressing the issues and trying to make sure everyone's interest is addressed.
"To the folks that simply want to see no oil and gas exploration in Michigan, we know that won't be enough."
Shelby Township resident Denise Demak and other members of Citizens Against Residential Drilling have closely monitored a state work group formed to address recent conflicts between residents and gas and oil companies, and they are dissatisfied with the new regulations. A Rochester real estate lawyer is following this story closely.
"Anything of substance, such as setbacks or residential zoning, the group did not address or discuss," said Demak, whose group had one member on the panel. "The stuff that would really help homeowners around the state ... was never put into the recommendations."
Rules don't stop drilling
The new rules require companies to:
The four-year-old Michigan Zoning Enabling Act supersedes local authority to thwart oil and gas drilling, said Hal Fitch, chief of DEQ's Office of Oil, Gas and Minerals.
"Townships and counties are prohibited from zoning for oil and gas operations," Fitch said. "Cities and villages aren't prohibited from it, but they can't do what amounts to exclusionary zoning. They have to provide some area where companies can drill."
Erin McDonough, president and CEO of the Michigan Oil and Gas Association, said the industry agreed to rules that will eventually prove more costly.
"It's expensive but it's a compromise," McDonough said. "The upside is this has given companies (a way) to move forward in a more positive way."
Residential drilling pays
A decade ago, seismic three-dimensional imaging technology allowed exploration firms to locate gas and oil deposits in new areas. Coupled with the proliferation of hydraulic fracturing that uses massive amounts of water and horizontal drilling, companies found there was money to be made setting up shop in the midst of residential development.
In 2014, battles intensified over drilling. While some residents in Rochester Hills and Shelby Township gladly leased their land for exploration, others threatened lawsuits and local officials passed moratoriums on drilling to keep the companies at bay.
The battle over property rights shifted to Lansing in December, when the Michigan Senate rejected bills that would have prevented the DEQ from approving drilling permits for projects in communities of 70,000 or more or for projects within 450 feet of residential buildings.
Sen. Howard Walker, R-Traverse City, spearheaded efforts to defeat that legislation, saying it would have a "chilling" effect on oil and gas development in Michigan.
But Sen. Jack Brandenburg, R-Harrison Township, who proposed the unsuccessful drilling legislation, represents Shelby Township residents trying to fight off a new well being eyed by West Bay Exploration of Traverse City. This summer, the company set up a test well within 500 feet of homes in one subdivision.
"I realize these best practices don't go as far as some people out there would like to see them go," Brandenburg said. "But they are better than what we've had in the past.
"I don't think West Bay will ever go into a community again, now that we have these practices in place, and do what they did in Shelby Township. That was a travesty."
But Demak said the guidelines offer little tangible protection for homeowners. Requirements such as improved notification, she said, are of little help in the long run.
"It's kind of like you're going to get a notification that you're going to have a heart attack next week," she said. "When you ask if there's anything else you can do to prepare for it, there really isn't. You just brace for it."
Michigan will introduce new rules this week for advance notification and certain precautions that oil and gas companies must adopt when looking to site new wells in Metro Detroit, but fall short of a drilling halt sought by opponents.
Department of Environmental Quality officials plan to send new instructions for companies that intend to drill wells in counties with populations exceeding 750,000 — narrowing the scope to Oakland, Wayne and Macomb — that would require more residents and government officials be told about prospective drilling, according to a summary memorandum of the rules obtained by The Detroit News. An oil and gas lawyer provide expert legal guidance in producing wells, title opinions, mineral rights, output claims, oil and gas production, proceeds and distribution cases.
The rules also mandate that companies study other locations than the proposed site, adopt ways to reduce noise and light caused by drilling, and install at least one ground water well in the area to monitor for possible contamination of the water supply in areas that are zoned residential. The regulations are intended to address concerns that have resulted in citizen rebellions and local moratoriums against drilling in Rochester Hills, Shelby Township and Scio Township outside of Ann Arbor as well as a failed effort to amend the state law in December.
To the chagrin of several citizens groups around the region, the rules do not include the authority to halt projects in residential areas or create new setbacks for wells. Michigan currently has a 300-foot buffer between residential structures and wells, and the number jumps to 450 feet in townships that have more than 70,000 residents. A Michigan real estate lawyer is reviewing the details of this case.
State officials say there is little more they can do under the law. Planning and zoning officials around Michigan often have found they can do little to stop drilling "unless very serious consequences would result from the extraction of those natural resources," according to a 2011 state law.
"Drilling is specifically protected by law from local bans," said Brad Wurfel, spokesman for the DEQ. "In that context, we've done a lot of good work toward addressing the issues and trying to make sure everyone's interest is addressed.
"To the folks that simply want to see no oil and gas exploration in Michigan, we know that won't be enough."
Shelby Township resident Denise Demak and other members of Citizens Against Residential Drilling have closely monitored a state work group formed to address recent conflicts between residents and gas and oil companies, and they are dissatisfied with the new regulations. A Rochester real estate lawyer is following this story closely.
"Anything of substance, such as setbacks or residential zoning, the group did not address or discuss," said Demak, whose group had one member on the panel. "The stuff that would really help homeowners around the state ... was never put into the recommendations."
Rules don't stop drilling
The new rules require companies to:
- Notify residents within 1,320 feet of a new well, along with local government officials and state legislators.
- Investigate other alternatives to the proposed well site.
- Adopt noise reduction and light-shielding strategies.
- Install at least one monitoring well for groundwater.
The four-year-old Michigan Zoning Enabling Act supersedes local authority to thwart oil and gas drilling, said Hal Fitch, chief of DEQ's Office of Oil, Gas and Minerals.
"Townships and counties are prohibited from zoning for oil and gas operations," Fitch said. "Cities and villages aren't prohibited from it, but they can't do what amounts to exclusionary zoning. They have to provide some area where companies can drill."
Erin McDonough, president and CEO of the Michigan Oil and Gas Association, said the industry agreed to rules that will eventually prove more costly.
"It's expensive but it's a compromise," McDonough said. "The upside is this has given companies (a way) to move forward in a more positive way."
Residential drilling pays
A decade ago, seismic three-dimensional imaging technology allowed exploration firms to locate gas and oil deposits in new areas. Coupled with the proliferation of hydraulic fracturing that uses massive amounts of water and horizontal drilling, companies found there was money to be made setting up shop in the midst of residential development.
In 2014, battles intensified over drilling. While some residents in Rochester Hills and Shelby Township gladly leased their land for exploration, others threatened lawsuits and local officials passed moratoriums on drilling to keep the companies at bay.
The battle over property rights shifted to Lansing in December, when the Michigan Senate rejected bills that would have prevented the DEQ from approving drilling permits for projects in communities of 70,000 or more or for projects within 450 feet of residential buildings.
Sen. Howard Walker, R-Traverse City, spearheaded efforts to defeat that legislation, saying it would have a "chilling" effect on oil and gas development in Michigan.
But Sen. Jack Brandenburg, R-Harrison Township, who proposed the unsuccessful drilling legislation, represents Shelby Township residents trying to fight off a new well being eyed by West Bay Exploration of Traverse City. This summer, the company set up a test well within 500 feet of homes in one subdivision.
"I realize these best practices don't go as far as some people out there would like to see them go," Brandenburg said. "But they are better than what we've had in the past.
"I don't think West Bay will ever go into a community again, now that we have these practices in place, and do what they did in Shelby Township. That was a travesty."
But Demak said the guidelines offer little tangible protection for homeowners. Requirements such as improved notification, she said, are of little help in the long run.
"It's kind of like you're going to get a notification that you're going to have a heart attack next week," she said. "When you ask if there's anything else you can do to prepare for it, there really isn't. You just brace for it."
27 April 2012
Somerset Mall Doing Well
Story first appeared in The Detroit News.
The Somerset Collection Thursday celebrated the first of many spring and summer store additions and renovations, which a retail analyst said will help keep its reputation as Metro Detroit's "foremost mall."
The upscale Troy mall added two new women's clothiers Thursday.
Columbus, Ohio-based The Limited reopened its renovated space in Somerset and included the national store launching of its full-figured fashion line eloquii. Aritzia, a women's apparel retailer, also debuted its first Michigan store at Somerset.
During the next six months, Somerset will open or reopen 11 stores.
It is a way to maintain their brand against competition.
The additions of eloquii is a welcome sign because the brand was originally launched online only, but demand for the clothing enticed The Limited to create a brick-and-mortar outlet.
Three other fashion retailers -- Hugo Boss, Emporio Armani and Giorgio Armani -- will open during the summer or fall, said Somerset spokesman.
Overall, Somerset's additions don't exactly follow the Metro Detroit trend.
The region's mall vacancy rate is 12.2 percent, according to CoStar Group, a commercial real estate information service.
Somerset does not release vacancy rates, but Dalto estimated the mall is probably at about 95 percent capacity.
Somerset is not solely banking on the success of new stores. Six existing retailers, including Express, Victoria's Secret and Bath & Body Works, have been remodeled or renovated and will reopen between now and July 25.
In fact, the Retail Store Fixture Dealers industry, which deals with retail renovations and expansions, said 2011 was the first year since the recession when the industry began to rebound.
Retail revenue is expected to rise 2.1 percent this year to $10.6 billion, according to a report this week from IBISWorld, an industry researcher, and should continue to drive retail renovations and expansions like those at Somerset.
The report, however, expects upgrades to lag behind prerecession levels.
For more local and Michigan business related news, visit the Michigan Business News blog.
For national and worldwide related business news, visit the Peak News Room blog.
For healthcare and medical related news, visit the Healthcare and Medical blog.
For law related news, visit the Nation of Law blog.
For real estate and home related news, visit the Commercial and Residential Real Estate blog.
For technology and electronics related news, visit the Electronics America blog.
For organic SEO and web optimization related news, visit the SEO Done Right blog.
The Somerset Collection Thursday celebrated the first of many spring and summer store additions and renovations, which a retail analyst said will help keep its reputation as Metro Detroit's "foremost mall."
The upscale Troy mall added two new women's clothiers Thursday.
Columbus, Ohio-based The Limited reopened its renovated space in Somerset and included the national store launching of its full-figured fashion line eloquii. Aritzia, a women's apparel retailer, also debuted its first Michigan store at Somerset.
During the next six months, Somerset will open or reopen 11 stores.
It is a way to maintain their brand against competition.
The additions of eloquii is a welcome sign because the brand was originally launched online only, but demand for the clothing enticed The Limited to create a brick-and-mortar outlet.
Three other fashion retailers -- Hugo Boss, Emporio Armani and Giorgio Armani -- will open during the summer or fall, said Somerset spokesman.
Overall, Somerset's additions don't exactly follow the Metro Detroit trend.
The region's mall vacancy rate is 12.2 percent, according to CoStar Group, a commercial real estate information service.
Somerset does not release vacancy rates, but Dalto estimated the mall is probably at about 95 percent capacity.
Somerset is not solely banking on the success of new stores. Six existing retailers, including Express, Victoria's Secret and Bath & Body Works, have been remodeled or renovated and will reopen between now and July 25.
In fact, the Retail Store Fixture Dealers industry, which deals with retail renovations and expansions, said 2011 was the first year since the recession when the industry began to rebound.
Retail revenue is expected to rise 2.1 percent this year to $10.6 billion, according to a report this week from IBISWorld, an industry researcher, and should continue to drive retail renovations and expansions like those at Somerset.
The report, however, expects upgrades to lag behind prerecession levels.
For more local and Michigan business related news, visit the Michigan Business News blog.
For national and worldwide related business news, visit the Peak News Room blog.
For healthcare and medical related news, visit the Healthcare and Medical blog.
For law related news, visit the Nation of Law blog.
For real estate and home related news, visit the Commercial and Residential Real Estate blog.
For technology and electronics related news, visit the Electronics America blog.
For organic SEO and web optimization related news, visit the SEO Done Right blog.
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