Federal clean-up money targets Ypsilanti's Water Street property

Wednesday, May 13, 2009 | Source: Concentrate

The buildings on Ypsilanti's Water Street property are about to come down now that the city has scored $600,000 in federal grants for demolition and environmental remediation.

The city is combining those three grants with a $250,000 of county money to raze the mishmash of residential and commercial buildings left on the 38-acre property. Demolition is expected to begin this summer and be done before the leaves turn colorful.

"We're hoping to demo most of the buildings and use the rest of the federal money for remediation," says April McGrath, assistant city manager for Ypsilanti.

The city took out millions of dollars in bonds to buy the 42 properties on the parcel just southeast of downtown. The collection of properties borders Michigan Avenue and the Huron River. It became an albatross when the chosen developer, Joseph Freed & Associates, pulled out in 2007.

City officials have been scrambling to find a developer for the parcel, originally envisioned as an urban extension of downtown. Now they are willing to chop it up and allow suburban-style development to get the tax revenue flowing in to help pay off the bonds.

Right now the city is negotiating with three developers interested in three separate sections of the land. One wants to build a commercial development on Michigan Avenue between Park Street and the river. The other two want to build multi-family housing, including possible senior housing. The deals are expected to be done by this fall.

Source: April McGrath, assistant city manager for Ypsilanti
Writer: Jon Zemke