Building to go forward at Front and Park

What's described as a bustling retail and residential building is expected to rise at the long-barren, fenced corner of Front and Park streets as more tenants sign on, though the developer won't say how many are in the fold.

"It's enough to get me to put my neck out and move forward with the project, enough to tip the scales in my favor," said developer Thom Darga, owner of Big Olives 2 LLC, of Suttons Bay.

The project stalled this spring when the main commercial tenant -- a bank -- pulled out. Now construction is expected to be completed by the end of May 2010.

Plans still call for a martini bar, coffee shop and specialty grocery store and more options are in the works, but Darga won't reveal which or what type of businesses are interested. The secrecy is part of negotiations, he said.

The building is planned as a five-story, mixed-use development, a 70,000-square-foot structure with underground parking, two floors of retail and office space and three floors of penthouses. That's a change from the previously planned two levels for residential units, Darga said.

At least six penthouses are spoken for and more sales are in the works, he said. Penthouse prices range between $299,000 and $500,000 and as many as 27 will be available, depending on design, although the final number could be lower, Darga said.

Darga bought the development's plans from a previous owner, but the bad economy and disputes about architecture and building height left the place vacant since 2001.

Work is under way now, and an official groundbreaking ceremony will be held today at 11 a.m.

Workers are removing scrap metal and overgrown brush from the property, he said.

The project at 101 N. Park St. has a valid foundation building permit, but Darga will have to seek additional building permits, said Bruce Remai, director of Grand Traverse County's Construction Code office.

The project is expected to create 40 jobs and attract upwards of $20 million in private investment.

Darga's project received more than $1.8 million in local and state brownfield funds, and this week the local brownfield authority began processing invoices for environmental work, said Bryan Crough, executive director of Traverse City's Downtown Development Authority.

"It's been a long time, but it seems everything worth doing takes a lot of time," he said. "Having a hole, even though it's been nicely fenced, is always a concern."

Photos

Developer Thom Darga says this hole in the ground at the corner of Front and Park streets will be filled with a five-story, multi-use building by the end of next May. Record-Eagle