TRAVERSE CITY — City commissioners will consider the sale of a downtown parking lot to construct a four-story, mixed-use building that’s been under consideration for seven years.
Tom McIntyre of Traverse City paid $40,000 in 2006 for the option to purchase Lot W on the corner of Cass and Washington streets for $416,000. The city twice extended the contract and the price will have to be reconfigured to reflect current market values. Commissioners will discuss the project when they meet today at 7 p.m. at the Governmental Center.
The proposed brick building will house 19 condominium apartments on the upper floors and 6,000-square feet of commercial space on the ground floor.
“It’s just a great project in a great location,” McIntyre said. “It will really be a benefit for the people who live there and the downtown area.”
The site currently holds three parking lots, one owned by McIntyre that’s sandwiched between two city lots. The new building will sit entirely on the city’s corner lot with underground parking for 30 cars. McIntyre will maintain 12 surface spaces on his lot and transfer the balance of the property to the city to expand its remaining public parking lot.
The only concerns have been expressed informally by members of United Methodist Church who use the parking lots for Sunday services. City planner Russ Soyring said the project will make better use of the underutilized, unattractive parking lot and add to the city’s tax base.
McIntyre said he has most of the apartments reserved and has spoken with several businesses interested in using the commercial space for offices. He’s also sought out some organizations who will consider the site for a convenience store.
“I think it would be a great location for a convenience store in the downtown,” he said.