Bank of Ann Arbor Is Approved for $4.2 Million Expansion
- Jun 19, 2014
The Ann Arbor city council unanimously approved a $4.2 million expansion project of the Bank of Ann Arbor Headquarters and Branch Office located at the northeast corner of South Fifth Avenue and East Washington Street.
Under the plan designed by local architecture firm Bowers and Associates, the existing two-story facility at 125 S. Fifth Avenue will be completely remodeled and expanded to become a visual presence and dominant architectural feature in downtown Ann Arbor.
According to MLive.com, the bank’s current and only entrance on Fifth Avenue will be replaced with windows, while the existing yellow brick façade will be almost entirely replaced by brown and red-colored bricks and limestone-colored stone. Two new, separate entrances will be built on Fifth Avenue and Washington Street respectively, creating node at the corner street and offering a lively pedestrian experience.
The construction team spearheaded by developer First Martin Corporation will add a third story on top of the eastern part of the building. According to the source, the 9,440-square-foot addition will include office space, an executive suite and new boardroom.
Work on the façade remodeling is expected to start next month, with construction of the third floor set to begin in September. The project will take around 18 months to complete.
With the third floor addition, the Bank of Ann Arbor headquarters will expand to more than 32,500 square feet of space. According to The Ann Arbor Chronicle, the two-story office building was built in 1965 and then expanded in 1999—four years after First Martin Corporation acquired the structure for the Bank of Ann Arbor, which has a long term lease.
Click here for further market data on Detroit.
Rendering via Bowers and Associates