Mixed-Use Parking Deck Negotiations Moving Forward in Ferndale

Mixed-Use Parking Deck Negotiations Moving Forward in Ferndale

(Crystal A. Proxmire, Sept. 10, 2018)

Ferndale, MI – Ferndale City Council is expected to vote Monday on entering into a 150-day Exclusive Negotiation Rights Agreement (ENRA) with a developer for the “dot,” a five-level mixed-used structure to be built at Troy and Allen in Downtown Ferndale.

The mixed use development will include a parking, retail, office and residential.

By entering into an ENRA, the developer can invest in the creation of proposals without worry of the project going to another developer.

According to a memo from Assistant City Manager Joseph Gacioch, developer Versa Wanda is interested in bringing office tenants to Downtown Ferndale and is willing to conform to concepts set forth by the city in their planning for the development.

“Initial discussions confirm the Development Team’s intent to develop 20,000 square feet of office space, no more than 20,000 square feet of residential space on Parcel- B, and about 15,000 square feet of street- level commercial located along W. Troy Street,” Gacioch said in the memo.

The memo also outlines components approved by City Council for the dot.

The public components include approximately 400 parking spaces, pedestrian -oriented streetscape improvements for W. Troy, and alley improvements for the southern boundary of the project.

The public components of the project will be funded with capital bond financing; guaranteed by the Auto Parking Fund; the General Fund will NOT be a source of revenues for bond repayment.

The private components include up to 39,000 square feet of elevated office space situated on top of the public parking garage, up to 20,000 square feet of residential as a separate parcel located on Allen Street on the western border of the parking garage, and 14,000- 18,000 square feet of street-level commercial space located along W. Troy Street on the northern border of the project.

After putting out at RFP (Request for Proposals), City staff has had discussions with several interested developers. However many were leery of the office space component. If negotiations with Versa Wanda are successful, groundbreaking could be as soon as January 2019.

City Council is expected to vote on the ENRA at the Monday, Sept. 10 City Council meeting, which takes place at Ferndale City Hall at 7pm.

For more details on the dot, download the PUD by clicking here.

The dot project has been in the works for several years. For previous articles click here.

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