Mixed-Use Rules the Day
Business to Business Monthly Magazine
Date -- May, 2001 - By Bill Milliken, CCIM
Ann Arbor Area Chamber of Commerce
Technology companies closing their doors? A slackening economy? However you characterize our real estate market, it has failed to dampen the spirits of a handful of powerful developers whose checkbooks are already out, funding office and mixed-use development in downtown Ann Arbor. All told, they account for almost 250,000 square feet of commercial space. These are some highlights:
Old McDonald's SiteSpoon Equities, the newest Ann Arbor-based developer, has site plan approval for two downtown, mixed-use buildings: The Collegian Building and The Fifth Avenue Building. J.C. Beal Construction is the general contractor on both projects. The infamous McDonald's site on Maynard St., near the University of Michigan's central campus, was acquired by a Spoon Equities partnership last year. Jeffrey Spoon plans to break ground for the 37,200 square foot Collegian there in two months."We are setting the example with 'green development'," says Spoon, who proudly explains the 4,000 square foot grass roof they have designed for the seven-story building. It is actually a two-inch high, green groundcover named Sedum, which will be established and grown in shallow soil on top of the building. Sedum will not only give off oxygen, Spoon notes, but it will not become a heat sink like many roofs which then contribute to summer temperature gains. The concept is well-enough established that Ford Motor Company plans to "plant" up to 1,250,000 square feet of Ford's U.S. rooftops in Sedum, beginning next year. The Rouge plant will be their first such site.
Nine residential condominiums are planned for The Collegian, located on floors four through seven. An affordable unit of housing is included. The remaining units, which range from 1,800 sq. ft. to 2,800 sq. ft., will sell for $675,000 to $1,200,000. The asking rent for the office space on the second and third floors (5,700 sq. ft. each) is $25.50 per square foot, triple net. Carl Luckenbach designed the building, and Marc Reuter is designing the condominium units within the building. Spoon has retained Organizational Designs, Inc. for the interior and space planning.
State Street LoftsSouthfield developer Howard Freshee was a downtown Ann Arbor hero when he finally succeeded in wresting control of the crumbling Olga's Kitchen site at State and Washington Streets from a Texas trust a couple of years ago. But he found that the bloom was off the rose after a series of appearances before the Ann Arbor Planning Commission and City Council. Last year's attempt to develop 8,748 sq. ft. of retail on the site was rebuffed when City Council concluded the site begged for mixed-use development.In partnership with Farbman Development Group, Freshee is back with a 71,845 sq. ft., mixed use proposal for the 10,900 sq. ft parcel of land, across from the Frieze Building. It calls for 42 loft apartments and a floor of street level retail space (7,500 sq. ft.). Planning Commission last month voted the proposal down in a 5-4 split, however, even though the proposal meets City zoning and use requirements. A hearing on State Street Lofts is scheduled before City Council on May 6.
For More Information Contact:
Bill Milliken, CCIM
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