Consultant’s report: City of Ann Arbor could get $52M from sale of downtown properties

The city of Ann Arbor could net more than $52 million from the sale of four prime pieces of real estate it owns in the heart of downtown, according to a consultant’s report. AnnArbor.com obtained more than 200 pages of financial analyses in response to a Freedom of Information Act request submitted to the Downtown Development Authority. The reports were prepared earlier this year by Todd Poole of 4ward Planning LLC, a land use economics consulting firm with offices in Philadelphia, New York, Pittsburgh and Atlanta. The DDA is studying redevelopment opportunities for four city-owned parking lots downtown as part of the Connecting William Street project and it tapped 4Ward Planning to help crunch some numbers. Council Member Sandi Smith, D-1st Ward, is bringing forward a resolution next Monday to stipulate that a percentage of the proceeds from the sale of city properties goes toward affordable housing.

AnnArbor.com

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