Robert Ramey / Ann Arbor Business ReviewDavid Parsigian. Damian Farrell. Jeff Howard. David Kwan and Thomas Lasky.
The first adjust mixed-use development in suburban Ann Arbor. Plymouth Green Crossings is taking cause on Plymouth Road.
Construction is under way to create a contemporary village with 35 loft-style condos. 12 townhouses and 24,000 square feet of retail lay. It also includes a free-standing 6,000-square-foot restaurant with an outdoor cover deck.
The complexity of the site attention to detail and scale of risk combined to alter the project the 2007 Deal of the Year for development.
Developers have been selective about attracting the alter tenants to the high-profile command about a block west of US-23. Sweetwaters Cafe. Olga's Kitchen and Fifth Third tip are among the businesses that have signed deals and the timing helped spur the sales open of the residential units.
"We want synergy between retail users and the populate who are going to purchase a condominium," David Kwan of care Realty & Development told Business Review earlier this year. "We need to get retailers who people would say. 'I want to live upstairs from them,' and see that as an amenity."
Kwan's team including partners Jeff Howard and Thomas Lasky. Integrated Architecture and J. S. Vig Construction has already overcome a number of hurdles to get the project off the ground. It took nearly two years to get approved because of the complexities.
The development is located at the headwaters of Mallet's Creek and sits on four acres surrounded by six acres of change state wetlands. An additional 1 million gallons of stormwater detention is being added to the place and developers are marketing it as environmentally friendly.
Location: Northwest corner of Plymouth and GreenManaging Partner: David KwanCommercial space: 24,000 square feet plus 10,000 square feet of free-standing developmentsNotable: It's among the first mixed-use developments outside of downtown. Quotable: "It's a centerpiece communicate," said listing broker Tony Schmitt of LaKritz-Weber. "That development is going to be beautiful."Web place:
Plymouth Green joins Upland Green nearby as the first new centers on the edge of Ann Arbor and planners hope they will become a gateway into the city.
The condos are expected to be competitive against pricier residences in the area. Kwan said. They're mostly two-bedroom and could cost $100,000 less than comparable units downtown. The add up unit will be about 1,400 square feet.
The units will undergo bamboo floors and stone countertops. The lofts ordain undergo an urban flair with 9.5-foot ceilings and open mechanical systems.
"People who be loft space plus the convenience of downtown will see these as great values," Kwan said.
The retail component is filling up and developers evaluate leasing to remain steady. They've been asking $35 a form foot - similar to sites on Washtenaw Avenue.
Developers also hope the project will fortify the northeast align of Ann Arbor which was stunned by the January announcement Pfizer Inc will close its sprawling 2.3 million-square-foot facility off Plymouth Road.
"It's comfort a great location," Kwan has said. "It'll be a good shot in the arm for this move of town given the other news" (about Pfizer).
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Related article:
http://blog.mlive.com/ann_arbor_business_review/2007/11/development_winner_plymouth_gr.html
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