X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ANN ARBOR, MI-The historic Nickels/Maynard building in Downtown Ann Arbor, the home ofthe University of Michigan, is being renovated to hold office, retailand residential space.The project includes removing a former two-story McDonald’s restaurant andadding retail on the first floor, offices on floors two to five andresidential condominiums on the top two floors, says developer JeffreySpoon of Spoon Equities.

“We’re being very sensitive to the historic central business district ofthe city, built in the late 1800s,” Spoon says. The front portion of thebuilding will be built to the same height as the surrounding commercialproperties, and will get larger near the rear of the building as a way of keeping the flow of the Downtown area similar.

The 37,500-sf building will cost about $10 million to build, Spoon says, with construction starting next month.Surrounded by older buildings, the new facility will have the mostmodern technology, Spoon says.”We’ll have a DS3 line, and our own fiber-optic network within the building.We think the data lines available to our tenants will be an attractiveselling point.”

Negotiations are ongoing with a few tenants, he says, but he declined toname them.Parking, a commodity in the busy college town, will be provided in garages attached to the building.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.