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ANN ARBOR, MI-A planned unit development is under way off of Ann Arbors’s Main Street business district. A nine-story building, called the James Ashley Mews building and costing $42 million to construct, will offer 100,000 sf of office space, 7,000 sf of restaurant space and five penthouses.

“We think Ann Arbor is a very healthy market,” says developer Paul Potter, president of Syndeco Realty Corp. Most of the office space will be taken by the company’s head office, the DTE Energy Co. of Detroit. “We didn’t plan it that way, but we started running out of space in our satellite offices. We had lawyers and other professionals chomping at the bit to get in here,” Potter says. The company is still negotiating with retail firms for the building, he says.

Syndeco is also developing 47 brownstone condominiums on the two-acre property. “That market is going great,” asserts Potter. “We put an advertisement up in a window near the development for people interested in buying, and we had 120 people call in a week and say they were serious about buying one. The Mews building will be finished in June, and the brownstones will be completed by September.”

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