Multifamily, Retail Projects Picking Up in Ann Arbor
- Apr 17, 2013
By Veronica Grecu, Associate Editor
First Martin Corporation, a real estate company that specializes in office, research, flex and retail space in Ann Arbor, is in the very preliminary stages of redeveloping a long-vacant property on the city’s north side into a 251-unit residential complex, AnnArbor.com reports. The company has owned the property at 2225 Traverwood Drive and an adjacent office building since the 1990s.
The detailed development plans and a zoning change from office/research to multifamily will be discussed during a community meeting on April 18 at the Traverwood library branch.
According to the source, First Martin will develop 11 two-story buildings with 13 units each, and three four-story buildings with 36 units each. The project will also include 502 parking spaces—two for each apartment unit—and, if approved by the city, it will be the first apartment complex developed by Fist Martin in almost 30 years.
Ann Arbor residents are seeing a lot of buzz on the 7.45-acre site at 3000 Washtenaw Avenue between Huron Parkway and Platt Road, where the city’s largest shopping center in ten years is under construction. As reported by the same source, the Arbor Hills Crossing broke ground in June 2012 as a joint venture between Chicago-based North Shore Properties Group and Campus Realty of Ann Arbor. The development includes 80,000-square-feet of retail space and 10,000-square-feet of second story, Class A flex space, all of which is contained in four one- to two-level buildings.
With a grand opening date set for August 22, Arbor Hills Crossing is almost fully leased to 15 tenants such as locally based Running Fit and Café Zola and national chains like Anthropologie and Sur La Table, AnnArbor.com reports.
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