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New Micro-Apartments May Cause Detroit Rents to Rise

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Micro-apartments spanning roughly 350-square-feet have become the newest trend in the Detroit real estate market, according to MLive. With these new cozy units soon to come on the market, MLive expects them to persuade more people to travel to Detroit's business district as well as cause rent prices to rise. Two new micro-unit developments to look out for in Michigan include Dan Gilbert's 219-unit mixed-use project in downtown Detroit and NoMi Developer's 47-unit mixed-use development at the edge of Kalamazoo. MLive reported that these units are being targeted towards Millennials and are often 20 to 30 percent more affordable than "regular" one-bedroom apartments in Michigan.
· Smaller apartments could push rent up in Detroit, other Michigan cities [MLive]
· 219 Micro-Apartments Planned in Capitol Park [Curbed Detroit]