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- Michigan's Top Developments Driving Job Growth - 2025
Michigan's Top Developments Driving Job Growth - 2025
Michigan’s 2024 Real Estate Challenges and 2025 Growth Prospects: Key Developments, Investments, and Market Trends
The real estate market in Michigan has faced some challenges in 2024 with rising construction costs and interest rate volatility contributing to a slowdown in development activity.
As reflected in the chart below, multifamily deliveries in Southeast Michigan hit a 10-year low, reflecting the pressures on the industry. However, as we look ahead to 2025, there are promising signs of new economic growth. Key industrial developments and shifting market dynamics may pave the way for renewed growth and housing expansion in Michigan.
Southeast Michigan Council of Governments
Federal Funding
LANSING, Mich.—A new report from Climate Power shows Michigan continues to lead the nation in bringing home Inflation Reduction Act (IRA) dollars from the federal government to make the state more energy independent and competitive for clean manufacturing. The report shows that Michigan is No. 1 in the nation for winning IRA-funded projects, resulting in more than $27.84 billion in new investment and, supporting over 26,000 good-paying jobs with more projected. (Michigan Governor's Office)
Major Infrastructure Development - Gordie Howe Bridge
Location: South Detroit / Windsor
Expected Investment: $6.4+ Billion
Jobs Created: 2,500+
The Gordie Howe International Bridge is a major infrastructure project connecting Detroit, Michigan, and Windsor, Ontario, over the Detroit River. Once completed, it will be one of the largest cable-stayed bridges in North America, featuring six lanes and modern customs facilities to improve trade and travel between the U.S. and Canada. The bridge is named after Gordie Howe, a legendary Canadian hockey player, and is expected to enhance economic growth and reduce congestion at existing border crossings. Construction began in 2018 and is anticipated to be completed in the fall of 2025. Read More Here
Photo By Gordie Howe International Bridge Project
Semi Conductor Manufacturing
1.) Hemlock Semiconductor
Location - Saginaw County
Expected investment: $325 Million
Expected New Jobs - 1,180
Hemlock Semiconductor (HSC) is receiving $325 million from the CHIPS Act to expand polysilicon production, reducing U.S. reliance on foreign supply chains and boosting national security. The expansion will create jobs in Michigan and strengthen the U.S.'s position in semiconductor manufacturing and critical industries. Read More Here
Hemlock Semiconductor Site
2.) Western Digital Technologies Inc.
Location - Genessee County
Expected Investment: $55 Billion
Expected New Jobs - 10,000 permanent
Western Digital plans to build a semiconductor plant in Mundy Township, Genessee County, investing $35–$55 billion if CHIPS Act incentives are approved. The project would create up to 10,000 jobs, marking the largest private investment in Michigan's history. Approval timing is currently unknown. Read More Here
Crains Detroit
Automotive
1. Piston Automotive
Location: Auburn Hills (Site of former Detroit Pistons Home Arena)
Expected Investment: $85 Million
Expected New Jobs: 900 permanent
Piston Automotive has secured a six-year contract with General Motors to supply components for a new electric pickup truck. The company will invest up to $85.2 million and create 900 jobs by leasing a newly constructed building at the former Palace site in Auburn Hills, Michigan, supported by an $8.5 million state grant. Auburn Hills, Michigan was chosen for its proximity to customers, existing facilities, and skilled workforce. Read More Here
The Palace of Auburn Hills before its demolition in 2020.
2. Magna Seating
Location: Auburn Hills
Expected Investment: $100M
Expected New Jobs: 500
Magna International plans to invest over $100 million in a new 280,000-square-foot plant in Auburn Hills, Michigan, to supply seats for GM's electric vehicles, creating 500 jobs. The facility, expected to open by November 2024, will support GM's Orion and Factory Zero plants, which produce EVs like the Chevrolet Silverado and GMC Sierra. Magna is collaborating with Auburn Hills, the State of Michigan, and the Michigan Economic Development Corp. on the project, with site plans under review. Read More Here
Photo: Detroit News
3. Benteler Automotive
Location: Wyoming, MI
Expected Investment: $105M
Expected New Jobs: 170
Benteler Automotive is investing $105 million in a 315,000-square-foot battery components assembly plant in Wyoming, Michigan, creating 147 jobs. Supported by a $1.4 million state grant, the facility will produce battery parts for Ford Transit vans, with operations expected to last at least a decade. Located on the former GM stamping plant site, the project is part of broader redevelopment efforts in the area, including a new Corewell Health center and marketplace. Construction began in September 2024, with an official groundbreaking on December 12, 2024. Read More Here
Exterior Renderings of the proposed Benteler Automotive plant
Record Breaking Transaction:
In a volatile market where rising costs—such as interest rates and taxes outpacing rent growth—erode value, it's encouraging to see strong demand for small multifamily properties.
Ferndale Gateway Flats: Sold for $262,500 per unit or $272 per square foot—a record-breaking transaction.
Ferndale Gateway Flats
Lets Talk!
If you made it to the end of this article, hopefully you found some value! If you'd like to chat about valuations, Michigan's economy or multifamily investing don't hesitate to shoot me call or text at 248-972-7040.