It looks pretty likely that downtown Ann Arbor's future includes another new high-rise structure, most likely a residential building.

Last month, the office property at 413 E. Huron, zoned for high-density development, was sold by the Thomson Family Trust to Greenfield Partners, a real estate investment firm based in Connecticut.

Located between Sloan Plaza condos and Papa John’s Pizza, the 10,300-square-foot building and its parking lot has housed a varied series of tenants over the years. At one time it was an A&P market, later a Michigan Bell office and then office space for the University of Michigan. The property, which was constructed in 1930, sold for $4.5 million ($400 per square foot). It had been on the market at various times since 2007, when it was listed at $6 million.

Bruce Thomson and his wife, Linda, had considered renovating the site in 2008 with plans calling for total redevelopment of the building and construction of a 15,000-square-foot, two-story building next door. This project was slated to have seven luxury student apartments and eight retail stores but the downturn in the real estate market dealt a blow to the Thomson’s plans.

The 413 E. Huron property resides in the D1 zoning district which means it’s meant for mixed commercial/residential projects reaching a maximum height of 150 feet. According to Bruce Thomson on AnnArbor.com, “I assume it will end up a high-rise of some kind, but I don’t know what they will do. It’s zoned for high-density development, which is what makes sense, so I’m sure it will end up some kind of high-density development.” Ann Arbor’s downtown is currently experiencing a boom in housing construction, with six projects either being built or approved in the downtown area. These include The Varsity, Landmark, Ann Arbor City Apartments, Zaragon West, 318 South Main, and City Place.

Greenfield Partners (which does business as Ann Arbor Green Property Owner LLC) is privately owned. According to their company website, the firm majors on direct investment and development and redevelopment of properties among other activities including financial asset restructuring.