The city of Ypsilanti and a local developer have come to an agreement about how to proceed with renovating the historic Thompson Block.
To settle lawsuits between the city and developer Stewart Beal, which stemmed from issuing building permits and stopped work on the project for much of the summer, Beal has a plan for renovation: Within 30 days, a particular wall the city is concerned about needs to be repaired; within a year, the facade needs to be restored; and the whole project needs to be completed within three years. The agreed-upon plan is close to what he was
shooting for, Beal says.
The 3-story, Civil War-era building sits at the eastern edge of Depot Town. It has become controversial in recent years. For the latter half of the 20th Century, it was neglected and allowed to become a blight while the rest of Depot Town revitalized itself into a destination. Beal acquired the property in recent years and promised to redevelop it into a combination of ground-floor retail space and luxury loft apartments.
The structure must be rebuilt after a fire last fall; Beal spent about $75,000 over the last two months cleaning after the fire and subsequent collapse, the debris from which filled up 30 dumpsters with three floors' worth of broken bricks, wood, and other construction materials. Now masonry work is in progress.
Beal was encouraged by support from the state Historic Preservation Office, which granted tax credits worth 40 percent of the cost of the project, up from 25 percent. The 40-percent credit could amount to $1.6 million of the expected $4 million project cost.
He's also having meetings with some potential partners, but it's too early to say who. "This building can't be done without having some tenants secured beforehand," he says.
"It's going to continue to be a slow and painful process, but all of these minor victories will hopefully add up to an eventual completion," he adds.
Writer: Kristin Lukowski
Source: Stewart Beal, developer of the Thompson Block
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