Planning a Property Redevelopment
I have been working on an exciting new opportunity to redevelop a prime piece of property in Traverse City. It is the former Lear plant on the corner of South Airport Road and LaFranier. The existing building has been sitting vacant and an eyesore to the community for many years. It takes up about 80,0000 SF of space on 7 acres of one of Traverse City's most traveled business corridors. Most of today's businesses do not have a use for this large a manufacturing building, set in a location that caters to retail and services.
However, this is an ideal site for a restaurant, financial service company, professional offices, retailer, or residential apartments. It even has enough room to create drive-thru lanes which most of today's national restaurants, banks and drugstores insist on having, if they are going to consider opening a location in a new community. There is a myriad of criteria that go into site selection for new businesses including traffic flow, proximity of residential housing, income levels, parking, neighboring businesses and ease of accessibility. This site has the potential to have it all!
In order to appeal to enough users, the existing building will have to be removed and a new site plan will need to be thoughtfully developed. I am working with a developer who has assembled a team of professionals to design a site that meets these needs. The site plan has been conceived and undergone many changes as we try to meet the needs of potential users and develop a plan that encompasses Garfield Township's vision for the area.
Currently we have a restaurant, financial company, apartment developer and home furnishings company interested in the site and we are working to meet their needs and the township’s, in order to design an urban infill development that will benefit all the members of the community. If you or anyone you know has been looking for a site like this, please contact me for more information on the opportunities that exist in this development. It is a great time to get in on it, while it is still in the early stages and can be changed to accommodate the needs of each individual business. Below is a proposed vision of what the site could look like.
Dan Stiebel, CCIM