Development News

Ypsilanti’s downtown scores low vacancy rate despite economy

Wednesday, March 18, 2009

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Ypsilanti

Ypsilanti's downtown is enjoying a low vacancy rate these days, bad economy be damned. So much so that the downtown has half the vacancy rate of revered downtown neighbor Ann Arbor.

Ypsi's vacancy rate measures a reasonably healthy 7 percent so far this year. Tree Town's comes in at 14 percent while Depot Town's vacancies hit 11 percent - but is expected to dip below 10 percent within a few months.

"A lot of other downtowns have vacancy rates above 7 percent ..." says Brian Vosburg, director of the Depot Town and Downtown development authoritie. "And a lot of the strip malls are ghost towns these days."

Downtown Ypsilanti has experienced a boom in eclectic boutique and cafe-culture businesses setting up shop in the city's center. The opening of the Ann Arbor SPARK's East Incubator in the newly renovated Mack & Mack building is only the latest in a long string of blights storefronts turning into entrepreneurial bright spots.

There are even plans to reopen the recently closed TC’s Speakeasy storefront on Michigan Avenue.

"We have people who are working on their business plan to purchase it," Vosburg says.

Source: Brian Vosburg, director of the Depot Town and Downtown development authorities
Writer: Jon Zemke

Development News

Ypsilanti’s downtown scores low vacancy rate despite economy

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