The Ann Arbor City Council is expected to vote tonight if it wants to negotiate to participate in the Arbor South housing development project. It could lead to the city bonding and operating three parking decks.
The $469 million project off of Eisenhower between State and Boardwalk would include over 1,000 units of multi-family housing, including about 210 to be affordable housing.
The city would issue about $146 million in bonds to help pay for the parking structures.
Mayor Christopher Taylor says the large public commitment will be worth it, given the area’s need for housing.
“We need people in Ann Arbor. This project will bring people to Ann Arbor, will bring affordable housing to Ann Arbor, and the city can support that through a brownfield in a way that, I believe, is entirely prudent and proper and would be to the community’s long-term benefit.”
But some council members have serious questions. 5th Ward Democrat Erica Briggs says there’s a lot to love about the plan but is concerned over the projected high financial risk to the city.
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