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More Apartments Coming to Downtown Ann Arbor

Thursday, February 13, 2014
by Tom Stachler,ABR,CDPE - Group One Realty Team

The city of Ann Arbor recently announced its decision to sell a parking lot downtown to a local property manager. As part of that agreement, Dennis Dahlmann has agreed to turn this parking lot into a mixed-use development no later than January 1, 2018, which means that more apartments are coming to downtown Ann Arbor very soon.

The deal is estimated to be worth around $5.25 million. The sale of the former YMCA property was approved unanimously by the city council in November. In making the decision, once council member was excited at the possibility of creating something “magnificent” on the site, and remarked that it would be an excellent development for the downtown area.

This parking lot is located near the Blake Transit Center, and is also situated along William Street and Fourth and Fifth Avenues. It consists of just under an acre of land that will house a structure that is at least five stories high when completed. The lower level will contain retail and restaurant space, office space on middle floors and apartments on the top floors.

Ann Arbor’s city council had previously set forth a number of stipulations for building on the site. One of the requirements was that the site plan had to be based upon available standards for energy efficiency. Proper parking facilities were also outlined, to include connecting with another underground parking garage that is nearby.

In addition, the city also made exact specifications as to the amount of open space that’s provided. The amount of open space must be at least 10% of the property. The city also mandated that the developer include a fountain that is approximately the same size as the one located in front of the Campus Inn.

City officials received five different offers, and considered all of them carefully before deciding to sell this lot to Dahlmann. In deciding which offer to take, council members looked at the benefits of each proposal separately in addition to considering the asking price.

Residents can expect ground breaking for this new construction to begin soon. Government officials are hopeful that the idea of more apartments coming to downtown Ann Arbor will help spur economic growth within the city.

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NVIDIA Technology Center in Ann Arbor

Monday, September 23, 2013
by Tom Stachler,ABR,CDPE - Group One Realty Team

NVIDIA, a Santa Clara, California-based global technology company, announced in August that it was opening of a sparkling new technology center in Avis Farms, Michigan, just south of Ann Arbor.

Although it doesn't have the name recognition of other giant tech companies, like Microsoft or Google, NVIDIA's software assists in the designing of myriad components and products that are integral parts of many of the electronic devices most of us use in our everyday lives.

The company its software products provide applications and functions to such disparate, wide-ranging items as smartphones, motion picture special effects and vehicle electronics. It is this latter tool that provided the impetus for NVIDIA to bring its state-of-the-art tech center to the Ann Arbor area.

“I’m pleased to see more technology-focused companies look to the state of Michigan as a resourceful Home and partner, Michael Finney, president and CEO of the Michigan Economic Development Corporation, said on NVIDIA's corporate blog. "NVIDIA’s commitment to the state of Michigan is an encouraging sign for future growth and jobs in the technology and automotive industries.”

At the Ann Arbor Tech Center, its approximately 20 onsite employees will work with many of the nearby automotive manufacturers, such as Chrysler, Ford, GM and Volkswagen, to develop “infotainment” systems, in-vehicle applications and other such software aimed specifically at the industry. In fact, in-dash digital instrument clusters powered by NVIDIA products and components are already being used in several car makes and models, including, but not limited to, Bentley, Lamborghini, Rolls-Royce and Tesla.

According to NVIDIA marketing director Danny Shapiro, additional supercomputing and graphics development work will probably take place at the center.

The three brain wizards who together founded NVIDIA in 1993 are

  • Jen-Hsun Huang (company's CEO as of 2013) - Former Director of CoreWare with LSI Logic and microprocessor designer with Advanced Micro Devices (AMD)
  • Chris Malachowsky - Former electrical engineer with Sun Microsystems
  • Curtis Priem - Former Sun Microsystems' senior engineer and graphics chip designer

According to a 2002 article in Forbes, Huang, Malachowsky and Priem secured the necessary capital funding for this venture from Sequoia Capital.

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Huron River Chain of Lakes Recreation

Friday, September 20, 2013
by Tom Stachler,ABR,CDPE - Group One Realty Team

Waterskiing, fishing, cruising, pontooning, swimming, relaxing and cabin rental are just the tip of the iceberg of things to do on and around the Huron River Chain of Lakes. A series of no-wake canals act as Links in the chain, connecting its nine bodies of water:

  • Big Portage Lake
  • Little Portage Lake
  • Baseline Lake
  • Zukey Lake
  • Strawberry Lake
  • Whitewood Lake
  • Gallagher Lake
  • Ore Lake
  • Tamarack Lake

According to the Huron River Watershed Council's website, the watershed itself blankets more than 250 square miles, including sections of Washtenaw and Livingston counties, in the southeast corner of Michigan. It contains numerous wetland areas and plays host to 20 communities. This chain-of-lakes section of the Huron River also offers nearly 600 miles of small streams and larger tributaries.

You are able to navigate most of the lakes with the usual watercraft; however, only small watercraft can navigate the serene waters of Little Portage, Ore and Tamarack.

Boaters have to get a boating license and register their watercraft with the Michigan Secretary of State. As well, if you plan on angling for some of the chain's myriad fish species, which include Northern Pike, Walleye and Bluegill, you must first secure a Michigan Department of Natural Resources issued fishing license.

Klaves Marina, near the city of Pinckney, sits on the shores of Big Portage Lake and offers the chain's only public stop for gas refills. Dockside eating establishments of note include Riverside Pizza on Portage Lake and Zukey Lake Tavern - the chain's exclusive full-service restaurant - on Zukey Lake.

Residents of and visitors to Ann Arbor and Ypsilanti can reach the Huron River Chain of Lakes in about 30 minutes, and downtown Detroit is less than 65 miles to the east.

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Roundabout Project Update at State Street & Ellsworth Rd.

Monday, September 16, 2013
by Tom Stachler,ABR,CDPE - Group One Realty Team

Commuters attempting to transverse the confluence of Ellsworth Road and State Street in Pittsfield Township, just south of Ann Arbor, can expect to face more roundabout detours to avoid the roundabout construction zone that has shut down that intersection since early June.

The most recent update reported on Ann Arbor.com back in August stated that the project was at least showing progress, as the section of Ellsworth Road west of State Street that has been under construction would open to accept traffic flow, while the section of Ellsworth east of State would be closed. It was estimated that this latest closure impacting those who have to navigate through this beehive work zone, where traffic running in both directions on State Street would be maintained while one of its usual two lanes will continue be closed, would stretch into at least mid-September.

Although it is no doubt disrupting a number of area residents' lives, businesses roundabout the intersection are staying open for the project's duration. Additionally, the $2.4 million improvement project coordinated by the Washtenaw County Road Commission is transitioning into its third phase, and thereby inching (like commuter traffic at the intersection) closer to its completion target of late September.

Initiated in 2012 by Pittsfield Township as a proactive solution to many of the anticipated traffic hassles, problems and issues have likely coincided with the opening of a new Costco store at 771 Airport Blvd. The large national retailer is reportedly footing about $500,000 of the construction bill, with payment for the remaining costs taken care of via two federal grants.

Pittsfield Township formed a partnership agreement with the City of Ann Arbor to split $42,000 spun off from the project, which will ostensibly go toward prettying up the roundabout intersection once construction's completed with some concrete stamping work.

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Ann Arbor Population Growth

Tuesday, June 25, 2013
by Tom Stachler,ABR,CDPE - Group One Realty Team

At a time when many Midwestern towns - both small and large - are shrinking, Ann Arbor bucks the trend, and is growing. The town, affectionately referred to as "Tree Town," is now Home to more than 116,000 residents, a gain of more than two percent over 2010 numbers, according to data from the U.S. Census Bureau.

That makes Ann Arbor the fifth largest city in Michigan, behind Detroit, Grand Rapids, Warren and Sterling Heights. The new 2,000+ Ann Arbor residents bolster the town's population above that of the Michigan state capital, Lansing.

"CNN Money" magazine named Ann Arbor one of the top 100 places to live in the United States in 2012, citing both the nearness of Big 10 football (Ann Arbor is the home of the University of Michigan), and the town's many job opportunities.

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Ypsilanti: Depot Town Destrict and Expansion

Thursday, May 16, 2013
by Tom Stachler,ABR,CDPE - Group One Realty Team

In Ypsilanti, Michigan, the Downtown Development Authority (DDA) is attempting to ensure the Depot Town district's continuity by expanding its boundaries. Formerly comprised of two separate DDA's, the more recent singular DDA has existed since 2009, owing to an Ypsilanti City Council Vote.

Properties from Huron Street to Pearl Street and Cross Street (used as mixed commercial and residential) would become part of the expanded district. The assumption, or hope, is that in lieu of decreasing property values within the current district, a larger district will generate higher revenue from the Depot Town Tax Increment Finance and Development Plan. However, Tim Colbeck, DDA Director, has stated the TIF wouldn't necessarily see expansion in conjunction with the district, but that the restructured district would serve “operational purposes”.

Colbeck noted that some businesses not presently within the district already receive benefits from the DDA. He went on to say these same businesses are eligible for Building Rehabilitation and Facade Grants (and other programs), benefits that will possibly increase when these businesses are officially absorbed into the district.

The TIF will continue to allow taxable value within designated DDA boundaries to generate tax revenue for the DDA, not the city of Ypsilanti. Often this revenue is crucial to ongoing improvement projects that raise property values, invigorate commercial traffic, and ultimately create more revenue.

2015 will see the expiration of the current Depot Town TIF plan. The succeeding plan, around which planning has entailed all of the aforementioned, will last until 2030. Requests for proposals have illuminated certain goals deemed central to the update process:

  • Keeping the gentrified feel of the downtown district intact
  • Maintaining district's cleanliness, quality of public services, diversity
  • Property upkeep
  • Regional connectivity and promotion of a friendly pedestrian environment
  • Residential and Commercial facilities with tech accessibility
  • Diverse housing, retail space, and commercial area
  • Multiple public transportation options
  • Job opportunities

Colbeck has stated job opportunities and investment in local economy are priorities of the update, which the DDA's Operations and Finance Committee will lead. Also on the Committee's immediate agenda: Hiring a consultant (by July) to help compose a long-term strategy. Two public meetings and a survey of the public's reactions, concerns, or complaints are to take place in the near future.

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Arbor Hills Shopping Center

Thursday, May 2, 2013
by Tom Stachler,ABR,CDPE - Group One Realty Team

Arbor Hills Shopping Center boasts an inspirational rise-from-the-ashes tale to rival the best Hollywood tearjerker. And this happy ending involves lots of love: love of shopping, that is. Calling all mall addicts, shopaholics, and those in dire need of retail therapy - the ultimate mall to trump all others is coming to Ann Arbor.

Slated to open this August, Arbor Hills is currently taking shape on 7.45 acres of land, on Washtenaw between Platt Road and Huron Parkway. Strategically located a stone's throw from Country Farm Park and a Whole Foods store, future Arbor Hills shoppers will potentially catch whiffs of fresh cut grass and organic nuts while perusing Dutch ovens at Sur la Table - talk about a unique mall ambiance.

The story of Arbor Hills Shopping Center began when developers first wanted to erect another such mall back in 2006. At that time, Ann Arbor City Council approved a site plan for The Shops at Arlington. But the economy conspired against them, and bad luck killed those dreams at once. Comerica Bank, the lender, longed to withdraw its bet in lieu of foreclosure and the unfinished deal sat on the table.

Along came Tom Stegeman, who formed a team with co-founder Max Reiswerg. The duo purchased the property for a cool $3 million, and promptly proposed the Arbor Hills idea. As it was significantly less extravagant than the original concept, the idea squashed several others submitted by competing development groups. Arbor Hills was born anew.

The grown up Arbor Hills Shopping Center will comprise four buildings spread out over a pristine, choreographed landscape. The mall is unique in that three of its buildings will be accessible by both car and the sidewalk, the latter designed with pedestrian needs in mind. Parking is scattered behind and close to all buildings, reducing walk time to and from vehicles and increasing convenience.

Tenants have already begun renting spaces; 15 leases have reportedly been signed to date. Confirmed tenants include the likes of Brooks' Brothers, The North Face, and Anthropologie - to name a few. Restaurants with outdoor patios have also been proposed. To accommodate the hoped-for rise in activity, a traffic light is to be installed at Platt Road's intersection. There will also be new sidewalks, bicycle spaces, and viewing platforms spanning restored wetlands.

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Barracuda Networks Adds More Jobs in Ann Arbor

Monday, August 13, 2012
by Tom Stachler,ABR,CDPE - Group One Realty Team

On June 27, Barracuda Networks, headquartered in Campbell, California, made two big announcements that will bring great benefit to Ann Arbor. The information security company unveiled a plan to expand its local workforce by about 184 new employees (adding to its current staff of 180), and Barracuda also said it will relocate from 201 Depot Street to the space formerly occupied by Borders bookstore.

Over three years, as it moves to 317 Maynard in downtown Ann Arbor, Barracuda anticipates adding 184 high-tech and engineering jobs and it plans to invest between $6 million and $7 million. This is one of the biggest commercial leases in recent Ann Arbor history. Barracuda will occupy the rear portion of the building that also previously housed Borders’ East Liberty Street store, which is owned by First Martin Corporation.

Barracuda looked at about 100 possible venues, but the downtown Ann Arbor building was the most appealing. Ann Arbor SPARK and the Ann Arbor office of Colliers International worked with Barracuda to find the right location.

John Teeter, property manager at First Martin, indicated that renovations would be underway in early July to transform the former Borders Books space into an appealing, high-tech office space. Plans call for Barracuda to move in this fall.

The project includes remodeling the façade, adding windows along the Maynard Street frontage, and constructing a small engineering data center along with a training center, exercise facilities, and break rooms with games.

A key for Barracuda was the City of Ann Arbor’s offer to provide a 5-year tax abatement estimated to be worth $85,150, while the Michigan Economic Development Corporation also offered up to $1.2 million.

Michigan Gov. Rick Snyder said, "The expansion of Barracuda Networks demonstrates the importance of our strategy to help companies grow and flourish. This investment highlights the value of Michigan's highly competitive business climate and incredible workforce abilities for cutting-edge companies looking to expand."

According the company’s director of new product initiatives, Sean Heiney, Barracuda is now hiring about two employees per week. “Barracuda Networks continues to thrive, and Ann Arbor is critical to that success,” said Heiney. “We’re doubling down on our commitment to the region, bringing new and exciting jobs that are helping to shape our new economy. We’re extremely thrilled about our expansion and look forward to breathing new life into such an iconic space downtown.”

According to Barracuda, the company will be staffing positions including software engineers, systems administrators, user experience designers and quality assurance staff, among others. Heiney said Barracuda is hiring all types of different employees to work at the Ann Arbor office, including engineering, support, sales and customer service. Those interested in applying can visit http://www.barracudalabs.com/recruit/.

Barracuda’s move is obviously great news for the business community and Ann Arbor overall. When the community attracts well-paid, professional jobs it naturally carries over into other sectors, including restaurants, service businesses, real estate and many others.

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Could Downtown Ann Arbor be Getting Another High-rise?

Friday, August 3, 2012
by Tom Stachler,ABR,CDPE - Group One Realty Team

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.

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ANN ARBOR REAL ESTATE FOR SALE

Tuesday, April 3, 2012
by Tom Stachler,ABR,CDPE - Group One Realty Team

Spring is Here and Ann Arbor Real Estate Market is Active

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Displaying blog entries 41-50 of 66

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