Local commercial real estate firm
First Martin has long believed their 19.82 acre property on Traverwood Dr. near Plymouth Rd. and Huron Pkwy. would make a great place for Ann Arbor residents to live, and now, the firm's plans to build 216 apartment units there is moving forward.
"This project has been in the back our minds for a long time," says First Martin Vice President Mike Martin. "We've had a sign on the property for close to two decades, but various other opportunities took our attention."
Martin says the Plymouth Rd. area has proven to be a popular place for Ann Arbor residents in general, and anticipates a strong market exists for the forthcoming apartments. The development will have a slight emphasis on one-bedroom units, which will average around 850 square feet each, and will also include two-bedroom apartments. Approximately two-thirds of the units will include attached garages.
"We feel confident we'll get the typical demographic for the Ann Arbor rental market," says Martin. "With the location being adjacent to the city golf course and near the library, there is a lot of public and private infrastructure that will be very attractive the the residents who will live there."
Martin expects construction to begin on the Traverwood Apartments in late spring or early summer of 2014 and continue for 18 to 24 months. Once completed, he anticipates about six jobs will be created to maintain the complex.
Source: Mike Martin, First Martin
Writer: Natalie Burg
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