Packard Square Approved for $53M Loan, Replaces Ann Arbor’s Georgetown

2448

Construction on a mixed-use development in Ann Arbor is slated to start by January on the site of the former Georgetown Mall following the closing on a $53-million construction loan.

Called Packard Square, the new site being developed by an affiliate of The Harbor Cos. of Bloomfield Hills, is expected to open in 2016, with 249 residential units and 23,500 square feet of ground-floor retail on Packard Street, less than 1.5 miles from the University of Michigan.

“We are thrilled to be building a state-of-the-art mixed-use development in Ann Arbor,” says Craig Schubiner, managing member of The Harbor Cos.

Among the four-story building’s conveniences will be automated package delivery systems, electronic door locks, separate trash chutes for recyclables, electric car charging stations, secure bike areas, contemporary energy-efficient lighting, and adjacent city bus stops.

Building plans call for high ceilings, premium finishes such as Caesarstone countertops, multiple elevators, an enclosed interior parking garage, and six-foot tall windows to maximize views and natural light.

Residents will also have access to a 25-yard outdoor swimming pool, whirlpool, surround sound movie theater, fitness center, massage room, yoga studio, demonstration kitchen, gaming areas, luxurious resident lounge, meeting rooms, and indoor and outdoor fireplaces.

Insite Commercial in Commerce Township will oversee the retail leasing of the project. “Nearby residents have enjoyed a diverse group of stores on this site for decades and we are committed to bringing a strong mix of retailers back to this important location,” says Randy Thomas, president and CEO of Insite Commercial.

As part of the development, Packard Square will create a new public playground and contribute another $50,000 for the city’s parks.

Facebook Comments