Posted Jan 30, 2026, 3:55 AM
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Detroiter4life
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Join Date: Jul 2001
Location: Back home in Georgia!
Posts: 4,320
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Ann Arbor plans to issue $35M in bonds for high-rise project
Quote:
Ann Arbor is planning to issue $35 million in bonds to help finance a 20-story affordable housing high-rise development downtown.
City Council voted unanimously without discussion at its Jan. 20 meeting to issue a notice of intent, giving a heads up to city voters and taxpayers the city plans to issue general obligation bonds for the project at 350 S. Fifth Ave. without going to voters. But as voters have a right to petition for a referendum on the question, the bonds will not be issued until 45 days after publication of the notice and until final approval under a separate council resolution, Chief Financial Officer Marti Praschan said.
Plans call for 330 apartments for low- and moderate-income households in a mixed-use building along William Street between Fourth and Fifth avenues — the site of Ann Arbor’s old YMCA next to the Blake Transit Center, now a parking lot.
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https://www.mlive.com/news/ann-arbor...e-project.html
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