14. January 2005 • Murph
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The block of Liberty Street that hosts Le Dog and a number of other businesses was auctioned yesterday for $1.6m, with Dale and Beverly Bell beating Beverly’s brother Tom Clark for control of the property. Six developers participated in the bidding, but Bell and Clark were the final two, aided by the fact that each would receive half the winning bid.
The Ann Arbor News discusses the Bells’ plans for the site, which may include a seven-story mixed-use building,
Bell will be required to come up with the money for the land within three weeks. As to what happens after that, redevelopment into something else is almost certain.
“It’s inevitable the property must be developed eventually,” Bell said.
Rian Bauer, project manager for local attorney and developer Michael Concannon, said he already has been talking to Bell about building a seven-story building with retail on the first floor, sub-surface parking and six stories of condominiums.
To build something that tall, the Bells likely would need to acquire the properties directly south of the land fronting East Liberty Street. That might not be difficult considering they already own half the interest – along with Clark – in a rental house on Thompson Street and are talking to the other property owner, Dale Newman, about buying his Division Street property.
Newman, who also attended the auction, told Bell following the sale that he would seriously consider his offer on the land.
Such a building would be of similar size to the TCF bank building across the street. As discussed in the previous AU thread on this issue, redevelopment often means the disappearance of current tenants due to increased rents, but fits into recommendations for increased downtown residential space to maintain the viability of other businesses.
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Rob/Ari—does this threaten the venerated Hobbit Hole? I can’t remember which house it is, but I think it’s the one immediately south of the house on the corner of Thompson and Liberty, right—and it sounds like that is the one they’re referring to.
I hope the proposed building is a “good” one and not another crap high-density proposal that pro-density folks might be reluctant to defend…
—Scott T. Jan. 14 '05 - 02:33PM #
—Larry Kestenbaum Jan. 14 '05 - 03:25PM #
Anything that includes land in that area and “subsurface parking” is going to be $$$ enough, though, that I’d expect him to put enough effort into the project to make it a worthwhile building. And “ground floor retail, condominiums above” is close enough to my and Brandon’s mantra that I’m curious to see what he comes up with.
—Murph Jan. 14 '05 - 03:53PM #
He’s planning another project of 7 buildings/87 condos on Liberty at Maple (think far west side).
It looks like he joined the Home Builders Assoc. of Washtenaw County in 2004:
http://www.hbawc.com/pm_newmembers04.cfm
Other links suggest he’s a runner, a lawyer, a real estate appraiser and has other connections to real estate…
—Scott T. Jan. 14 '05 - 05:53PM #
thanks for any info
—Just a Voice Jan. 14 '05 - 06:46PM #
—Murph Jan. 14 '05 - 06:52PM #