The 10 story downtown Ann Arbor high-rise, boasting condos, retail and office space, Ashley Terrace, has been remodeled and renamed 111 North Ashley by new owners Alidade Capital Fund LP.

111 North Ashley, Downtown Ann Arbor.

Remodeling has been completed on the re-branded 111 North Ashley, formerly Ashley Terrace. According to reports in the AnnArbor.com the new owners are now ready to move on and market the space that has been unoccupied for so long.

Built in 2008 Ashley Terrace was closed on by Bank of America for foreclosure in early 2010 with an outstanding balance of 20 million dollars.  The building was then sold to the new owners in 2011 by Bank of America for six million dollars with 29 unsold condo units and more than 20,000 square feet of retail and office space that has not been rented.

New owners Alidade hope to lease all of the remaining 20,000 square feet this year while selling the available condo units. They are confident their strategy for marketing will fill the space and are approaching the challenge with an open mind. Their efforts will look for businesses who will need office and retail space combined and are offering the option of space on both floors. Their main focus: “quality renters” who will take up most of the space and who have a good line of credit. They hope to avoid only leasing the properties to make rent, a strategy that will hopefully attract long term tenants.

While selling the condos Alidade will not budge on the higher than usual sale price of their units. Again their strategy seems sound and confident, placing listings for only four of the units at a time and removing the listing if it can’t sell for the asking price, placing another in the listings.

Feelings on condos in downtown Ann Arbor have shifted one way or the other recently, some viewing rentals as the preferred option. Alidade hopes that by sticking to their sale prices they will find buyers who are either successful young couples or successful older people looking to enjoy the downtown experience. Δ John Fenton

Hundreds of millions of dollars in grants and other means of funding to the University of Michigan’s health system could potentially generate 1.2 billion dollars in economic growth for downtown Ann Arbor, the surrounding area and the state of Michigan.

The University of Michigan Hospital. Downtown Ann Arbor, MI.

In 2011 the medical school was awarded 319.7 million dollars by the National Institutes of Health and placed second for total awarded to a public university with an affiliated medical school. The University of Michigan continually earns these grants and has appeared in the top ten benefiting schools four consecutive years now. In addition the school also raises about 490.5 dollars million total from other sources like state and federal agencies, industry and private donation.

According to the “ripple effect”, as indicated by the original article by uofmhealth.org, each dollar spent on research and development at an educational institute should generate nearly 2.5 dollars in local economic activity. This is without taking into consideration the effect newly developed technologies will have on markets as they become available or on the impact to the quality of life in the area.

In a move that makes the medical school at the University of Michigan seem even more impressive, the NIH awarded grant money to each of the schools 714 medical research projects, this in a  research climate that is undoubtedly competitive.

What is worth noticing is that the University and other major ‘investors’; the State, the Federal Government, and private industry, along with many other contributors, see the Ann Arbor area as an investment worth making. The University of Michigan is a positive force in Ann Arbor and it’s impact can be felt throughout the community, the Health System at U of M being among the many ways, spending 45% of the University’s money allocated to research and development. Δ John Fenton

This week the Michigan Theater, located in downtown Ann Arbor, will be acting as the special host to a Sundance Film Festival world premier of the film, “For a Good Time Call”.

For several years the Michigan Theater has had the honor of hosting special Sundance Film Festival events and premiers. The Festival selects nine theaters each year from around the country to act as extensions of Sundance and show premiers. “For a Good Time Call”, the selection for the Michigan this year, is a comedy by director Jamie Travis, who is being hailed as a modern version of the young Steven Soderbergh. The premier in Ann Arbor will also feature a special Q and A session afterward with Mr. Travis and the screenwriters Katie Anne Naylon & Lauren Anne Miller.

For a Good Time Call
Thursday, January 26 at 7:30 PM

“Lauren and Katie, college frenemies with a mutual good friend, move in together at age 28 in order to afford an amazing Gramercy Park apartment. The unlikely pair start a phone sex line and become best friends while learning about this hilarious world of nighttime callers. When the hot line is hung up and reality comes calling, the most meaningful relationship of their lives is put to the test.” – Michtheater.org

Sundance Shorts
Sunday, January 29 at 7:00 PM

The Michigan will also screen the Sundance Film Festival’s selection of short films from 2011. The shorts will include live action and animated films covering a wide range of genres and topics. According to the Festival’s program categories a short film is, “limited only by run time, and driven by innovation and experimentation.” The category also hails short films as having the ability to raise above the traditional means of story telling through film. “From cutting-edge animation to the best in Native and documentary cinema, these Shorts Programs call out filmmaking’s most original imaginations.”

Why Ann Arbor?

This year Ann Arbor, MI and the Michigan Theater were selected along with theaters in; Boston, MA. Brooklyn, NY. Chicago, IL. Houston, TX. Nashville, TN. Orlando, FL. San Francisco, CA. and Tuscon, AZ.

In preparation for Sundance’s arrival in Ann Arbor, the staff at the Michigan Theater put together a video where Theater Director Russ Collins explains during last years Festival what exactly make the Michigan fit to host an internationally acclaimed film festival.

It’s not just the Michigan Theater’s beauty and age old charm that attracts Sundance, but also the atmosphere and cultural climate of downtown Ann Arbor.

Ticket information for the both screenings can be found at ticketmaster or by calling 800-745-3000. Δ John Fenton

Josh with his $50 giftcard to Bivouac via PiperPartners.

Congratulations to our Facebook contest winner, Josh from Ypsilanti, MI. Josh has won a $50 gift card to the locally owned outdoor fashion retailer Bivouac right here in Ann Arbor. PiperPartners is building a facebook following and to do that we would like to give you a chance to win gift cards and other prizes from local stores. All you have to do is like us on Facebook. In December we teamed up with Bivouac to bring you information on winter clothing and what to wear in the Michigan winter.

All of our contests will be updated through our facebook page so be sure to check it out regularly. Each month we will also announce the winner and new contest in our newsletter and on facebook.

January contest: Like the “PiperPartners” facebook page (which you can do at the bottom of this post) for a chance to win two tickets to the Michigan Theater, perfect for a family outing or an evening date.

World on a Wire. One time, restored screening Sat, Jan. 14th.

Saturday, January 14 at 3:00 and 3:30pm

The Michigan Theater is lending a strong community hand to help local web customer optimization group MYBUYS.

Anyone with a passion for technology, experience in web programming or software engineering are welcome to these FREE tech tours. The Michigan Theater is using the event to showcase their state-of-the-art Sony 4K projector and other “behind the curtain” equipment used in the theater.

The sessions will be taking place this Saturday, January 14 at 3pm and 3:30pm, will receive a FREE ticket voucher to see a one-time screening of the digitally restored sci-fi masterpiece, World on a Wire. The screening will be at 10:00pm and anyone who attended the MYBUYS tech tour will also receive a voucher for FREE popcorn.

See you there.

In conjunction with the most recent PiperPartners Facebook giveaway, Ann Arbor Real Estate News will be exploring the world of film in Ann Arbor. Follow our blog closely all month for updates on the film industry in Ann Arbor and for great bits of history. Δ John Fenton

Interior of the Michigan Theater, seen from the stage.

The Michigan Theater, a majestic all it’s own, bringing beauty and glamor to film out of an age that seems well past, carries ever on as a downtown Ann Arbor icon and area essential.

Originally built in 1928, during the silent film era, the Michigan Theater has endured, seen many changes, and ultimately won the battle for survival where many theaters like it have not. Over time changes were made, some were necessary or self-preserving, while others may have threatened the future of the theater.

Having been initially outfitted for the silent films that were popular when the Michigan opened, there was an orchestra pit up front and a 1927 Barton Theater Pipe Organ. The pit went with the advent of the “talkie” but the pipe organ stayed, becoming one of the most important and rare features of the theater today. The Michigan is one of only a few theaters in the world still equipped with this kind of theater organ, and this Barton is one of the few in the world still in it’s original home.

Attempts to modernize the theater in the 1950s only succeeded in hiding all of the features that made the theater beautiful in the first place. The now locally famous facade of the building with it’s vertical sign, ornate marquee, and unique octagonal ticket booth were all replaced with cold aluminum, stainless steal and glass.

The rapid expansion and popularity of the multiplex threatened to close the doors on nearly all small single screen cinemas in the 1970s. Those that continue to operate today stand as testimony to a labor of love and a severe dedication to not only movies, but to the art of film. In 1982 the managing board of the Michigan brought in a management team headed by Mr. Russell Collins.

The double stair of the Michigan Theater.

By embracing the classics and reviving the theaters original decor, hidden for years under the remodel of the 50s, Mr. Collins was able to re-establish the Michigan Theater and create a more grandiose experience for the modern viewer. Entering the theater by the completely one-of-a-kind ticket box is the first indication that the experience here is a very different one. Beyond the greeting area, also eloquently decorated, where real buttered popcorn is served, is an impressive double stair that leads to the balcony. Gilded in gold paint (real gold), the extravagance of the stair is well put to shame by the actual theater.

In the 1990s Mr. Collins added a second screen, called the ‘Screening Room’, where the Michigan plays its more diverse films including; modern, foreign and small independent films. The Michigan also agreed to take over programming of the State Theater around this time, further increasing the possibilities for programming. Today a number of film festivals and exhibitions have been held between the two theaters including the Ann Arbor Film Festival.

It is a modern thing of beauty and grace to behold that which is from our past and consider: we preserve this. One glance is all that is required to establish firmly in the mind that the Michigan is a work of art dedicated to the work of others so that both may be enjoyed. Δ John Fenton

John Fenton contributes to the Ann Arbor Real Estate News blog for PiperPartners.

Standard winter clothing in Michigan

What do retail and reality have in common? Winter it would seem. This winter hundreds of non-native Northerners will be experiencing what may be their first winter ever, and they all want to know, “What do I wear in the winter?”

For folks who have lived  in the Ann  Arbor area their whole lives this will undoubtedly make little sense. It’s cold out, put on a jacket. That is perhaps taking for granted what Michiganders have always known, how to stay warm. Imagine though, for a moment, growing up in a warm tropical climate, surrounded by mountains and warm clear seas. The only place anyone here has ever seen snow is at the jagged tops of those mountains, cold, desolate, and dangerous. Less drastically, imagine relocating from Florida, where, yes it can get cold, but rarely snows and never freezes.

To address the issue and answer the question, “what to wear?”  Piper Partners and the outdoor experts at Bivouac teamed up to highlight some of the very best in winter protection.

The Michigan Standard

Layer. The last thing expected out of a Michigan winter is temperature change but it happens and often. Step outside, it is ten bellow. Get in the car and maybe it’s above freezing, but never warm enough by the time your eight minute commute is over. The office is the worst. It’s too warm in the lounge and freezing in the break room. Layer. By wearing warm layers instead of a single jacket or other warm article of clothing, these problems become minor issues to plan around.

Mittens, removable gloves.

Thermal Shirts.

Wool socks.

Tips for how to layer best:

• Thermal shirts. These light weight, thin undergarments serve to hold in your body’s heat. Look for a number on the packaging (ex. 190), the higher the number the warmer the thermal.

• Hoodies, Sweaters, and the much loved flannel. Offered in a variety of styles and options for warmth, work or play. These pieces will be a standard in any winter wardrobe. Leave them on or ditch them at the door, they will prevent the need for a big bulky jacket.

• Boots and Socks. A good pair of boots will help keep the cold and the wet snow off feet. If the commute involves walking or the cold is just too much, choose a pair of thick wool socks. Be on the look out for the actual wool content of the fiber, the higher the percentage the warmer.

• Thermal pants. Thermal options are available for pants but are much more difficult to manage than thermal shirts. While commuting or walking at a brisk pace, heat may build up that will be uncomfortable in the office. Since a pant change is not likely (a sweater can be hung up but not jeans), it may be best to just tough it up.

The Winter Jacket

Whether the best option is layering or not, a warm, reliable winter coat is a must for the Michigan winter. If it’s 15 bellow zero or just freezing, sometimes it helps best to just stay warm. What are the option though and how can you get the most for your buck out of these sometimes expensive items?

• The Big Guy. This is the biggest, the best, the warmest and usually the most expensive. No matter what it’ll keep anyone warm on the coldest night, with the hardest wind. These jackets come equipped with the most advanced in jacket technology. (See the winter tech list below to find what matched best).

• The “Northface”. Patagonia, Northface, Arcteryx, are the major brand names Bivouac carries and each produces a variety of winter jackets. With so many options; wool or down, hard shell or soft shell, does it have removable insulation, waterproofing verse breath-ability, the right jacket is sure to be out there.

• Light Weight/Windbreaker. This wont keep very warm, but for keeping the wind and water off, however it may be layered well with almost anything.

Winter Tech

To help survive winter, or just make it though warmly, a variety of technologies have been developed. Some are old as time and memory while others are the result of the most modern techniques in science. A basic understanding of these things will allow anyone to make a more informed purchase come time for it.

• Gore-Tex. Patented materials like this will help to keep you warm, dry, and increases the the flow of air to keep you from sweating.

• Wool and down. Both have their perks and will keep you exceptionally warm. Keep them dry to prevent the material from losing it’s properties.

• Thermal Insulation. A great way to layer and keep heat in. Look for numbers indicating warmth, the higher the warmer. Some brands make versions that will also keep things cool in the summer.

• Waterproofing. Usually applied to a jacket, most good products will come already waterproofed. Be aware that this does fade off the jacket after a period of time. Be sure to redo this every two to three years.

Bivouac is an outdoor clothing and retail store located on State St. in downtown Ann Arbor, across from the ‘diag’.

After submitting initial plans to Ann Arbor‘s Design Review Board, developers from the Urban Group Development Co. take planning for a six story apartment building to the next step.

The Liberty Lofts arean inspiration for the design of the 618 project.

Ann Arbor has experienced no shortage of development and growth in recent years. High-rise apartments, condos, and buildings like the planned 618 S. Main project, have ushered in a new era of growth for the city. The  addition of so much resident potential in the main downtown area is aimed at fueling further economic growth and establishing stability for the city’s future, while providing the attraction of a major city and urban center.

An undeniable focus has been placed on the importance of increasing population density while sparing the surrounding area from suburban planning. Residents will note the way in which the city has approached and treated each development in turn; keeping a critical eye on the impact each will have on the community while insuring long term viability.

Some of these developments are located on the fringe of what is today considered “downtown” Ann Arbor. This placement has come along with the express intent of expanding downtown by block-sized areas, fueled by these buildings and the economic catalyst they ultimately serve as.

This is not the case with 618. Located between S. Main St. and Ashley St., 618 is placed in the very center of an already thriving urban hub.

Hoping to offer an experience that is fulfilling for both residents and pedestrians, developers intend to give 618 a very unique set of qualities including; a swimming pool, businesses, lounges, a gym, and open public/private courtyards that encourage mingling. One interesting plan includes the desire to create garden space for residents to use. The progress of this building should be watched closely by anyone interested as it moves forward. If Ann Arbor teaches anything about urban planning it is that things change. The central location of this project will only encourage the shifting suggestions to mirror a gambit, though an interesting one to be sure. Δ John Fenton

Student housing is growing in Ann Arbor, specifically residential high rise housing. The last few years have seen a trend grow in the development of high rise buildings designed with the express intent of catering to students from the University of Michigan.

A number of these buildings have been built, are being built, have been proposed, or are frozen in some point of their development. Along with being designed to cater exclusively to students the buildings share a number of similar features. These include; green amenities, encouraged bicycle transportation, multiple room options and customizable features, limited underground parking, individual lease agreements per person rather than per unit, and all boast over 10 stories.

Currently there are five of these developments that have been constructed or are in some stage of actual development. These five include:

Zaragon Place on E. University

Zaragon Place. Already constructed on E. University, Zaragon Place is a 10 story student housing development with over 240 beds. The building features furnished apartments, green appliances, and also water saving measures. The building is less than a block from the diag and across the street from campus. Surrounded by bars and restaurants, Zaragon Place ads to the city atmosphere in this part of downtown.

Zaragon West. A sister building to Zaragon Place, the Zaragon West is currently under construction at E. William and Thompson. It will also house over 240 students, contain all the same functions and amenities as well as host a variety of retail shops. Zaragon West is located almost exactly between campus and downtown, a short walk to either.

Construction of the Zaragon West building, sister to Zaragon Place.

Sterling 411 Lofts

Sterling 411 Lofts. The 411 stands at the corner of Washington and Huron, features a 10th story sky lounge and an HDTV in each living room. Similar green amenities as offered elsewhere are available here along with easy rent options, 24 hour maintenance, and a temperature controlled underground parking garage.

Landmark 601 Forest. Will be among the largest of these new student high rises. The building will house over 600 students after its completion and has space for multiple retail establishments. This development, like the others, hopes to increase foot traffic to certain areas and to expand the area formally referred to as downtown.

Landmark construction.

The Varsity. According to an AnnArbor.com article, the building has recently been approved by the city of Ann Arbor and will begin construction soon. The Varsity will stand at the location of the former Ann Arbor Professional Building, directly next to the Sterling 411 Lofts.

The construction of so many high rise apartments takes the development of the city further, expanding on the growth achieved by the development of high rise downtown Ann Arbor condominiums. Δ John Fenton

The Huron River is beautiful. Take a dip in the summer at the Arboretum steps or Kayak past the U of M hospital with a group of friends. In the fall it’s banks are a Monet masterpiece, brilliantly illuminated by the color of change. At all times; Spring, Summer, Fall and even Winter, the Huron maintains its perpetual beauty.

Huron River looking east from the Broadway Bridge

In an article recently written by Constance Crump this beauty is called to question. Not because doubt exists as to whether or not it is in fact beautiful, but because it seems Ann Arbor development largely ignores the Huron. The river runs through Ann Arbor within walking distance of downtown and though the city offers many parks along it’s length of the river Crump feels that isn’t enough.

She writes that, “compared to 19th-century Ann Arbor, we hardly use our riverfront at all.” Where are the cafes, the bars, the apartments? There are none on the Huron. Homes? Yes, but people have no place to sit and drink coffee or walk and share memories with friends along riverside quays.

While the parks and cleanliness are a luxury few major rivers in America enjoy, the article says there can be more. Pedestrian bridges with coffee shops, restaurants, and stores along the river are all possible. With a little bit of proper development the river could not only help economic, cultural and social growth in the city, but in the area as well. Δ John Fenton