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Ann Arbor Hires Firm To Help Market Library Lot

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The city of Ann Arbor is getting some help in selling the Library Lot property above the Library Lane underground parking garage.

City Administrator Steve Powers says CBRE is a real estate firm with experience in this sort of transaction.

"CBRE will be helping develop with city staff the engagement plan, that engagement with stakeholders, that will be a key part of the process," says Powers.

The city hasn't settled on a selling price for the  parcel, but turned down a $2.5 million offer from a local hotel operator.  City council has expressed a desire to see mixed-use development on the property.

Taylor Pinson is a WEMU news reporter and engineer during WEMU's broadcast of NPR's All Things Considered.