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Sunday, February 8, 2015

Dexter considering Broad Street site for new apartments, condos

 Dexter is an inviting place to live, and with the completion of the trail connecting Mill Creek Park to Hudson Mills, even more so.

With an eye toward housing development in the downtown area, the city applied for a target market analysis grant, which will flesh out an idea of what potential is there for housing development. 

One area, overlooking Mill Creek on Broad Street, seems ripe for development and was the topic of discussion at a meeting in January. Representatives from Ann Arbor-based Peter Allen & Associates made their case for developing the site into a 128-unit apartment complex, by way of a report that's part of the Redevelopment Ready Community program offered by the Michigan Economic Development Corp.  

The city purchased the land for $1.3 million in 2012. 
The proposed housing site is just a short walk from Mill Creek Park.

Formerly an industrial site, the land would need some attention, including areas that have been left contaminated — which has an estimated cost of $1.2 million to clean-up — according to Tom Wackerman, president of ASTI, an environmental cleanup firm. Grants from the MEDC may cover that cost. He added that for now, concrete slabs have been placed over areas considered hotspots in an effort to keep any contaminants contained.

With at least another $800,000 to push back the road on Broad Street and getting the utilities in order for the proposed site, the city would also need to improve public transportation, according to Allen's proposal. The city has applied for a grant through the RRC to help with the former.  

The proposed 3-4 story L-shaped buildings are aimed toward millennials, a demographic that Allen says that Dexter is not drawing in. 

"You have an extraordinary village-city, that is ready for the next leap up,” Allen said. 

“But you’re missing something that we are trying to address tonight. You’re missing that demographic of the 20 to 30-year-old.”

The proximity to Ann Arbor would be one asset. 

Those folks who are older and looking to downsize could very well be another comparable demographic, as Dexter Mayor Shawn Keough noted during the meeting. 

"I think they are one and the same,” he said. 

“I think there are some commonalities.”

This idea is not beng pursued solely as a leasing enterprise. After two years, the complex could have a life as condominiums — perhaps marketed toward the existing residents, empty-nesters or those simply interested in downsizing.

It's estimated that a developer would need to invest another $20 million to construct the apartments, and Keough notes that the Allen & Associates' proposal is just the beginning of much to be considered when thinking of the city's future when it comes to housing. 

Moving forward, the city needs to examine the report and take it under advisement as the City Council and the Downtown Development Authority look at the possibilities. 

Click here for more on the Heritage.com. 


Chris Glahn is a licensed Realtor in the state of Michigan with RE/MAX Platinum Ann Arbor. He can be reached at 734-730-3403

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