Ann Arbor

Council approves Ann Arbor City Apartments, financing is next step

By Newsroom

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December 17, 2008

The light is green, but building construction will only begin in Ann Arbor when the green starts flowing again.Excerpt:Financing is the next step for the Ann Arbor City Apartments, a new apartment project approved by the City Council this month. The building, at the corner of Washington and First streets, will consist of seven stories with 156 residential units built and operated by Farmington Hills-based Village Green Companies above a four-story parking structure financed and run by the Ann Arbor Downtown Development Authority.Village Green's director of public relations Andrea Roebker said the company has contacted a few banks regarding prospective loans."With the financial market status right now, there is a delay in granting loans, but as soon as the banks make the loans, we will be ready to go," she said.Read the rest of the story here and how Ann Arbor is going for $60 million in bonds here.

Ann Arbor Area Community Foundation offers big money for big ideas

By Newsroom

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General

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December 17, 2008

Got big ideas on improving our community? The Ann Arbor Area Community Foundation is offering big bucks for that idea... if it's good enough.These $200,000 "big idea" grants come from $1 million provided by Pfizer. The grants are very wide ranging in scope. The only requirement is that it be an innovative solution, take on a big problem and have a reasonable chance of success."These are ideas, concepts or programs that we know would be good for the community but might not have a traditional funding mechanism," says Phil D'Anieri, program director for the Ann Arbor Community Foundation. "We frankly don’t want to limit the ideas that are out there."The money came after Pfizer announced it was closing its Ann Arbor campus in early 2007. The foundation has already pledged some of the money toward making Ypsilanti more vibrant through economic innovation, improving the local arts and culture scene and in early childhood development. Ideas can be submitted here. They are due by Feb. 4.Source: Phil D'Anieri, program director for the Ann Arbor Community FoundationWriter: Jon Zemke

Pre-seed funding allows Arbor Photonics to add employees, create tech demonstrations

By Newsroom

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Education

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December 17, 2008

Another $250,000 of state start-up money has found its way into the pockets of Arbor Photonics.The Michigan Pre-Seed Capital Fund made a cash infusion that will allow Arbor Photonics to hire a vice president of engineering in February or March and continue its development of early technology demonstrations.The University of Michigan spin-off is developing a 3C optical fiber laser for the manufacturing sector. U-M Prof. Almantas Galvanauskas invented the technology that is expected to dramatically improve fiber lasers. The technology is an optical fiber structure called Chirally-Coupled Core Fiber or 3C fiber. The 3C fiber significantly improves the performance of fiber lasers in industrial manufacturing, a $2 billion market that grows about 14 percent annually on average.The company plans to make the product available by 2010 and hopes to hit $50 million in sales within the next six years.Arbor Photonics also recently received $3 million, half of which came from Michigan's 21st Century Jobs Fund. Those funds are expected to create another 136 jobs at Arbor Photonics within a few years, a huge jump for firm that only employs a handful of people right now.Source: Phillip Amaya, CEO of Arbor PhotonicsWriter: Jon Zemke

Hook adds two employees, triples space and hopes to hire four more

By Newsroom

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Arts & Culture

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December 17, 2008

The last time we checked in with Hook earlier this year, the commercial-art start-up was made up of its two co-founders, a couple of part-time employees and a stable of freelancers crammed into a small office in downtown Ann Arbor. Today it employs six people (meeting its goal for the year) and has tripled its office space."We just kept working, taking on projects," says Aaron Schwartz, who co-founded the company last year with Michael Watts, both former University of Michigan students. "It got to the point that we had to turn down jobs because we didn't have the manpower."Manpower looks like it will be an important word for the 2.5-year-old firm. Schwartz expects to hire another 2-4 people in 2009 as it adds new clients.Hook incorporates 3-D imagery into commercial art, such as animation and illustrations. The firm's clients include Toyota and its work appeared in this year's North American International Auto Show in Detroit."We'd like to have more national television work," Schwartz says.Source: Aaron Schwartz, co-founder of HookWriter: Jon Zemke

Ann Arbor’s Architectural Resource takes home design awards, looking to hire

By Newsroom

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Arts & Culture

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December 17, 2008

Architectural Resource walked away with some hardware from the Remodeling Show's 2008 Qualified Remodeler Master Design Awards.The Ann Arbor-based firm was the most recognized company at the 30-year-old competition, taking home two first-places awards, four runner-up trophies, and one third-place finish. The awards were in categories like "Room Additions - Less Than $100,000" and "Room Remodel", which were both first-place finishes. Architectural Resource focuses on new home designs, additions and renovations. It handles projects both locally and in places as far away as Portland, Oregon and South Carolina. The boutique firm now employs five people and is looking for two more people. Those jobs are for an architectural designer and business manager.Source: Architectural ResourceWriter: Jon Zemke

Renaissance VC Fund invests $5 million into Arboretum Ventures

By Newsroom

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Economic Development

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December 17, 2008

The Renaissance Venture Capital Fund isn't wasting time when it comes to investing in Michigan and bridging the gap between Detroit and Ann Arbor.The VC, formed by Detroit Renaissance, made its first investment of $5 million into Ann Arbor-based Arboretum Ventures II. Renaissance expects to invest another $10 million to $20 million in 2009. That money will go either toward venture capital firms looking to invest in the state or firms based in Michigan, such as Arboretum."It is clearly a fast-rising venture capital firm right now," says Chris Rizik, CEO of the Renaissance Venture Capital Fund. "It is a really smart firm with the right niche. Even with the current economic problems we're finding they are really well positioned to be successful."Arboretum focuses mainly on investing in up-and-coming companies that make medical devices. However, the money from Renaissance's investment doesn't come with strings attached on what it must kind of firm or technology to invest. Jan Garfinkle and Tim Peterson formed Arboretum in 2002. Renaissance has been in the works for a few years, but didn’t become a reality until late this year. One of its main tenants is to create more new economy connections between Ann Arbor and Detroit.Source: Chris Rizik, CEO of the Renaissance Venture Capital FundWriter: Jon Zemke

Konichiwa, Ann Arbor

By Kimberly Chou

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Diversity & Equity

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December 17, 2008

Ann Arbor as an international center? You betcha. With it's growing global appeal, and proximity to the country's automotive hub, The Deuce has to keep up with its foreign-born citizens and visitors. Case in point: The growing Japanese community and the rising influence of Japanese-owned businesses.

TeL Systems helps update Crisler Arena, creates new jobs in Ann Arbor

By Newsroom

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Arts & Culture

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December 17, 2008

Go to a large venue like a casino or an arena and there is a good chance you will hear or see a bit of TeL Systems' handiwork.The Ann Arbor-based firm specializes in advanced video, audio and communication technology. It recently installed the new state-of-the-art sound system in Crisler Arena.The company started 43 years ago under the name of Thalner Electronic Labs. It now employs 34 people and an intern. That includes adding two additional staffers in the past year.TeL Systems made a decision to migrate away from mainly automotive-based work a few years ago and diversify its client base. Now it counts the University of Michigan as one of its bigger customers - and is glad it can during these turbulent times."From the day we were founded to today, the university is a very important part of what we do," says Karl Couyoumjian, president of TeL Systems.The company expects to hire a few more people in 2009, but Couyoumjian is guarded in his optimism considering what is going on with the automakers and the economy as a whole."If the right person with the right skill set comes by we'll make room," Couyoumjian says.Source: Karl Couyoumjian, president of TeL SystemsWriter: Jon Zemke

Video The Ann Arbor Film Fest

By Keith Jeffries

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Arts & Culture

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December 15, 2008

After 46 years it comes to this: a guest appearance by Larry Flynt, an ACLU law suit and woodland animals getting creamed by roller derby girls. Still, the Ann Arbor Film Festival has never taken its eye off the ball. This year marks a new, user-friendly era for the festival Variety Magazine called, one of "Ten Film Festivals We Love!"

U-M fuses business and art to create new graduate degree

By Newsroom

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Education

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December 10, 2008

Students at the University of Michigan pursuing their masters of fine arts don’t traditionally mix with MBA students. That’s about to change now that the university has created a new program that combines the two programs.U-M students in either the Ross School of Business or the School of Art & Design will have the option of receiving a dual degree from both schools by participating in the new four-year program. The idea is to create graduates who have mastered the fundamentals of business but have also developed their creative side (or vice-versa) so they can go after the innovating jobs of the 21st Century."Business students must learn to be innovative in responding to challenges, and creative in solving problems," says Valerie Suslow, associate dean of the Ross School of Business. "Learning design principles and understanding the evolution of creative work gives business students insight into marketing, product design and organizational behavior."The university plans to start the program in the fall of 2009 and is taking applications for it now.Source: University of MichiganWriter: Jon Zemke