The Ann Arbor City Council may finalize a purchase agreement tonight for the sale of the Kline’s parking lot for a housing complex on site, but some nearby establishments are asking for a delay.
The city, which owns the lot, wants to see housing on the 1.3-acre site. The deal with Hines Development is for a minimum of just over $14 million.
The plan is to build at least 450 market rate apartments and retail space.
Ann Arbor Economic Development Director Joe Giant says the vote would be the next step in the process.
“The purchase agreement is not a closing. It’s essentially a list of things of the potential buyer would undertake to make sure they want to buy the property, and it creates a list of responsibilities they also have to do to sell the property.”
The Ark music venue next door is asking the resolution be pulled off the consent agenda and a final vote delayed. They want assurances that alley and sidewalkaccess and some parking will be maintained.
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