Ypsilanti takes fresh but desperate look at Water Street

The buildings are about to come down on the Water Street property next to downtown Ypsilanti.The city has landed the $850,000 in federal and county grants to raze the buildings and has hired an environmental consultant to facilitate the process. The buildings are expected to actually begin falling in January. The Ypsilanti City Council is also reevaluating its options in regard to the 38-acre property.”The economy has changed what we are looking at in the future,” says April McGrath, assistant city manager for Ypsilanti.The city took out millions of dollars in bonds to buy the 42 properties on the parcel just southeast of downtown. The collection of properties borders Michigan Avenue and the Huron River. It became an albatross when the chosen developer, Joseph Freed & Associates, pulled out in 2007.City officials have been scrambling to find a developer for the parcel, originally envisioned as an urban extension of downtown. Now they are willing to chop it up and allow suburban-style development to get the tax revenue flowing in to help pay off the bonds.Right now the city is negotiating with three developers interested in three separate sections of the land. One wants to build a commercial development on Michigan Avenue between Park Street and the river. The other two want to build multi-family housing, including possible senior housing.Source: April McGrath, assistant city manager for YpsilantiWriter: Jon Zemke