New, privately funded construction is beginning in Ann Arbor now that the developer of Windsong is preparing to build the rest of the 32 townhomes on the city's south side.
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Most developers these days run long on plans and short on financing. The people behind Windsong are claiming they have both.
A partnership between Excel Realty Group (Shaker Heights, Ohio) and Epic Development (Altamonte Springs, Florida) is pushing for city of Ann Arbor approval to build the second phase of a town home development on Stone School Road just north of Elsworth Road. Peter Jobson, president of Excel Realty, says they have the ever-elusive financing lined up and are ready to start working this summer.
"Ann Arbor is a strong market," Jacobson says. "It's probably the strongest market in Michigan. This product is not offered elsewhere in the marketplace so we're seeing a strong demand for it."
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