Dennis Dahlmann http://wemu.org en Ann Arbor Y Lot Sale Closes http://wemu.org/post/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 http://wemu.org Ann Arbor Y Lot Sale Closes Ann Arbor to Put Proceeds from Sale of Y Lot In Affordable Housing Fund http://wemu.org/post/ann-arbor-put-proceeds-sale-y-lot-affordable-housing-fund <p>The City of Ann Arbor lost 100 units of low-income housing when they had to close the former YMCA building.&nbsp; Now that the property at 350 South Fifth Avenue is about to be sold the city’s affordable housing will get almost $1.4 million.&nbsp;</p><p>City Council Monday night voted to put all of the revenue from the sale of the property to affordable housing after covering the initial purchase price, closing and broker fees.&nbsp;</p><p>Mayor John Hieftje explains that some of the funds could be used to provide some important services to help keep tenants in Miller Manor.&nbsp; Hieftje adds that the city has made real progress in finding funds for affordable housing in the last year.&nbsp;</p><p>The sale of the Y-Lot to Dennis Dahlmann is expected to close by the end of March.</p><p></p><p> Tue, 17 Dec 2013 09:50:29 +0000 Andrew Cluley 39116 at http://wemu.org Ann Arbor to Put Proceeds from Sale of Y Lot In Affordable Housing Fund DDA Waives Reimbursement for Y-Lot Expenses http://wemu.org/post/dda-waives-reimbursement-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 http://wemu.org Ann Arbor Gets Loan Extension for Former YMCA Site http://wemu.org/post/ann-arbor-gets-loan-extension-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 http://wemu.org Sale of Former YMCA Lot in Ann Arbor Moves Forward http://wemu.org/post/sale-former-ymca-lot-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 http://wemu.org Sale of Former YMCA Lot in Ann Arbor Moves Forward Ann Arbor to Begin Negotiations on Sale of YMCA Lot http://wemu.org/post/ann-arbor-begin-negotiations-sale-ymca-lot <p>If a sale of the former YMCA site in Ann Arbor is completed with the owner of the Campus Inn and Bell Tower Hotel, the development will include retail, two floors of large plate office space, and residential space for the upper floors.&nbsp;</p><p>City Council last night unanimously passed a resolution for city staff to negotiate with Dennis Dahlmann who bid $5.25 million for the property.&nbsp;</p><p>CA Ventures increased their bid after the deadline, but council member Stephen Kunselman says it's important that city negotiates with the original high bidder.<br /><br />Kunselman says it's been a decade that the city has been trying to decide what to do with this property so he's glad to see progress finally being made.&nbsp; After expenses are covered the city will commit proceeds from the sale to affordable housing.</p><p></p><p> Fri, 08 Nov 2013 09:04:03 +0000 Andrew Cluley 37449 at http://wemu.org