DETROIT-The first luxury hotel to open in the Detroit market in 15 years is owned by Wayne County and managed by Starwood Hotels & Resorts Worldwide Inc. It was built by local firm Walbridge Aldinger.

BLOOMFIELD HILLS, MI-The mall REIT, currently the target of a takeover bid by retail giant Simon Property Group of Indianapolis, says its dividend represents the seventh consecutive annual increase.

BLOOMFIELD HILLS, MI-The REIT files a motion to dismiss a lawsuit by Simon Property Group Inc. and stop the retail giant's takeover bid of Taubman. The company plans to fight Simon's attempt to call a special shareholders meeting.

DETROIT-Development near the Detroit Metropolitan and Willow Run airports in Wayne County have been haphazard, says University of North Carolina professor John Kasarda, leaving a great void for destination development planning for businesses and residents.

DETROIT-The Penobscot and First National buildings Downtown, acquired by LNR Property Group of Miami from San Diego-based Capstone Advisors earlier this year, will be managed and promoted by Farmington Hills-based Friedman Real Estate Group.

DETROIT-A redevelopment group assembled by Mayor Kwame Kilpatrick brings money and resources together in a plan to build parks, retail and 1,000 multifamily units along the Detroit River.

DETROIT-Projects have stalled and will continue to lag into 2003, says the new chairman of a Detroit contracting association chapter, but confidence should return to push more building in the future.

DETROIT-Industrial deals in Oakland and Washtenaw counties involve a sale of a 48,200-sf property as well as leases on 14,774 sf and 14,000 sf. The sale involves a building on Stephenson Highway in Troy.