Development News

Thompson Block work begins anew in Ypsilanti's Depot Town

Wednesday, August 18, 2010

Ypsilanti

After a few months of delays, controversy, and butting heads with the city of Ypsilanti, work on the Thompson Block project is on again.

Phase one of the current plan is to stabilize the structure and move the shoring and scaffolding out of the right of way, developer Stewart Beal explains. Phase two involves rebuilding the structure to its condition prior to a fire last fall, and the third is renovations and build-out of tenant spaces.

Due to a clash between Beal and the city, when the parties sued each other over building permits, work stopped in June and July. It resumed last week with the issuing of building and right-of-way permits. Cleaning is being done in preparation for additional work, Beal says.

"We're working as quickly as possible," he says. "Now we have the ability to do what we wanted to do; stabilize the facade, and remove shoring and scaffolding."

The three-story, Civil War-era building sits at the eastern edge of Depot Town. It has become controversial in recent years. For the later half of the 20th Century, it was neglected and allowed to become a blight while the rest of Depot Town revitalized itself into a destination. Beal acquired the property in recent years and promised to redevelop it into a combination of ground-floor retail space and luxury loft apartments.

He also recently received word of eligibility for a historic state tax credit, which is returned after the project is complete. The 40-percent credit could amount to $1.6 million of the expected $4 million project cost.

However, Beal believes he'll have to find new tenants due to bad press the project has received. "Once the building is stabilized and we have a better idea of timelines, then we can start advertising for space again," he says.

Writer: Kristin Lukowski
Source: Stewart Beal, developer of the Thompson Block

Development News

Thompson Block work begins anew in Ypsilanti's Depot Town

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