Ann Arbor to Begin Negotiations on Sale of YMCA Lot
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.
City Council last night unanimously passed a resolution for city staff to negotiate with Dennis Dahlmann who bid $5.25 million for the property.
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.
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. After expenses are covered the city will commit proceeds from the sale to affordable housing.