Ann Arbor YMCA lot

Community
12:46 am
Thu April 3, 2014

Ann Arbor Y Lot Sale Closes

Credit Andrew Cluley / 89.1 WEMU

While most attention was being paid to President Barack Obama visiting Ann Arbor Wednesday, an important sale was completed.  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. 

City Administrator Steve Powers thinks the sale is a positive in two ways.

Ann Arbor City Administrator Steve Powers discusses a couple of benefits of the sale of the former Y-M-C-A lot.

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Community
2:54 am
Thu December 5, 2013

DDA Waives Reimbursement for Y-Lot Expenses

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.  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. 

DDA Board Member Keith Orr says to make a real impact on affordable housing as much money as possible is needed from the $5.25 million for the sale of the Y-Lot.

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Community
5:38 pm
Tue December 3, 2013

Ann Arbor Gets Loan Extension for Former YMCA Site

Ann Arbor City Administrator Steve Powers says work on the sale of the former YMCA lot to Dennis Dahlmann continues to go smoothly.   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. 

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Ann Arbor
4:58 pm
Tue November 19, 2013

Sale of Former YMCA Lot in Ann Arbor Moves Forward

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  property. 

Dennis Dahlmann agreed to all of the conditions required by City Council in addition to his purchase price of $5.25 million  for the property at 350 South Fifth Avenue. 

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.

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.  Dahlmann will be required to build a project including ground floor retail, large plate office space, and residential units.

WEMU's Andrew Cluley reports on the sale of Ann Arbor's former YMCA site moving forward.