Ann Arbor YMCA lot en Ann Arbor Y Lot Sale Closes <p>While most attention was being paid to President Barack Obama visiting Ann Arbor Wednesday, an important sale was completed.&nbsp; Dennis Dahlmann the owner of the Campus Inn and the Bell Tower Hotel completed the purchase of the former Y-M-C-A lot on South Fifth Avenue.&nbsp;</p><p>City Administrator Steve Powers thinks the sale is a positive in two ways.</p><p> Thu, 03 Apr 2014 04:46:21 +0000 Andrew Cluley 43830 at Ann Arbor Y Lot Sale Closes DDA Waives Reimbursement for Y-Lot Expenses <p>Ann Arbor's Downtown Development Authority has asked the city to commit the funds the DDA spent on the former YMCA lot to affordable housing projects.&nbsp; The DDA board yesterday passed a resolution to waive the reimbursement of their costs on the Y-Lot property, and encourage City Council to commit as much as possible to affordable housing as well.&nbsp;</p> Thu, 05 Dec 2013 07:54:40 +0000 Andrew Cluley 38585 at Ann Arbor Gets Loan Extension for Former YMCA Site <p>Ann Arbor City Administrator Steve Powers says work on the sale of the former YMCA lot to Dennis Dahlmann continues to go smoothly.&nbsp;&nbsp; However with the city facing a December 16th deadline to repay the $3.5 million installment purchase agreement city council has approved a six month extension on the loan.&nbsp;</p> Tue, 03 Dec 2013 22:38:35 +0000 Andrew Cluley 38519 at Sale of Former YMCA Lot in Ann Arbor Moves Forward <p>The City of Ann Arbor and the owner of the Campus Inn and Bell Tower Hotel have reached an agreement for the sale of the former YMCA &nbsp;property.&nbsp;</p><p>Dennis Dahlmann agreed to all of the conditions required by City Council in addition to his purchase price of $5.25 million &nbsp;for the property at 350 South Fifth Avenue.&nbsp;</p><p>Mayor John Hieftje says he's excited to have the sale moving forward and have the land providing income to the city and bring more vitality than a surface parking lot.<br /><br />The sale is expected to close by the end of the year to meet the city's deadline to payoff an interest only loan on the property.&nbsp; Dahlmann will be required to build a project including ground floor retail, large plate office space, and residential units.</p><p></p><p> Tue, 19 Nov 2013 21:58:14 +0000 Andrew Cluley 37964 at Sale of Former YMCA Lot in Ann Arbor Moves Forward