Ann Arbor Real Estate Blog

Ann Arbor: A Terrific Place to Raise Your Family

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Starting a family is a big decision, as is choosing a place to call “home.”  Ann Arbor, according to a new Kiplinger.com report, is suggested as one of the Top Ten  cities in the country for families. This won’t come as a surprise to those already raising families in Washtenaw County; we already know the many benefits of living in Ann Arbor.

The report uses three criteria important for anyone (not just families) as a baseline: the state of the city’s economy, the liveliness of the local culture, and the rate of job growth. Then, they factor in some important issues for families: an already-strong presence of families with kids, low crime rates (their figures were provided by the FBI), the quality of the public education system (using ratings from Great.Schools.org), and the availability of parks and recreational venues.

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Categories: Ann Arbor Real Estate, Ann Arbor Real Estate Trends

Ann Arbor’s Swift Biosciences Receives $3 Million for Development of Genetic Analysis Products

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Swift Biosciences, a small Ann Arbor start-up company, has been awarded $3 million in venture capital from Houston-based DFJ Mercury to pursue its work in molecular biology reagents.

DFJ Mercury is joined in the Swift funding by several Michigan-based individual investors, who also helped launch Swift Biosciences with seed funding in January 2010. Swift Biosciences is developing molecular biology reagents – substances which allow identification of specific genetic characteristics to help scientists and doctors conduct genetic tests to identify whether patients are susceptible to specific diseases.

As a firm which invests in information technology, advanced materials, and bioscience companies, DFJ Mercury partners with entrepreneurs to build competitive businesses around the world. Their focus is on the midcontinental US, particularly in the states of Texas, Colorado, Illinois, and Michigan.
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Categories: Ann Arbor Businesses, Ann Arbor Real Estate, Ann Arbor Real Estate Trends

XSeed Energy to Install Solar Panels at Michigan Theater

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The Ypsilanti-based Clean Energy Coalition (CEC) is the parent organization for the newly-formed XSeed Energy, “Ann Arbor’s Community Power Project.”  XSeed’s inaugural project, approved at their August 12 meeting by the Historic District Commission, will be the installation of solar panels at the Michigan Theater at 603 East Liberty Street.

Using funding from community donations and grants, XSeed Energy was created with the goal of developing renewable energy projects in Ann Arbor. Profits will be recycled back into an ‘Energy Bank’ to fund ongoing renewable energy installations. The goal – and hence, the name – is to ‘seed’ community funded, and possibly community owned, power projects in Ann Arbor.

For this first project, a set of 60-foot solar panels will be placed on the south-facing wall of the Michigan Theater, then connected to the local power grid. According to Bonnie Bona, project manager for XSeed Energy and former chair of Ann Arbor’s planning commission, the Michigan Theater was selected for XSeed’s first project “because of the public visibility of the solar panels, the theater’s willingness to participate, its community involvement, and the fact that it is already pursuing other renewable energy solutions.”

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Categories: Ann Arbor Businesses, Ann Arbor Neighborhoods, Ann Arbor Real Estate, Ann Arbor Real Estate Trends, Downtown, Going Green

Conventions and Trade Shows Cap Productive Summer in Ann Arbor

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From July 30 through August 5, Ann Arbor played host to the National Training Institute’s (NTI) annual trade show. The trade show is designed to attract vendors seeking to provide information about their services and products to the electrical industry. The University of Michigan campus was “home for a week” to over 2,000 NTI participants and, according to Mary Kerr (president/CEO of the Ann Arbor Convention & Visitors Bureau), NTI participants were expected to infuse over $5 million into Washtenaw County.

This was the second NTI convention to be held in Ann Arbor. This is in large part because of the University of Michigan’s strong record of union support, which creates a conducive environment for the NTI programs and course offerings. The group also has many “training partners,” companies and organizations that contribute various forms of support to ensure NTI’s success. UM is already set to host the National Training Institute’s 2011 meeting, as well.

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Categories: Ann Arbor Businesses, Ann Arbor Community Events, Ann Arbor Neighborhoods, Ann Arbor Real Estate, Downtown, Kerrytown

Ann Arbor Market Conditions, August, 2010

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As we head into the tail end of summer, we are beginning to notice that the market is stalling a little and has become slow. What I mean by slow is that there are not a lot of buyers out there with a real urgency to buy. Homes are still coming to the market, but they are not being absorbed as quickly as normal.

Under $400,000, the months’ supply of inventory is actually increasing – not decreasing as is normal for this time of year. Above $400,000, the inventory is decreasing or staying the same, more due to sellers giving up, versus homes selling. Above $1,000,000, there is an 11% increase in months supply. The total listing inventory for Ann Arbor is down 2.8 percent from last month, and year to date it is down 5.5%. The good news is that homes that are priced right are still selling, and homes that are overpriced are just sitting.

For sellers who aren’t motivated to sell, this is not the time to test the market. It simply isn’t going to happen for you. Even if you found a buyer willing to pay your price, you still have to get the appraiser to agree. When will we see buyer activity increase? I don’t know – no one knows. It depends on a number of factors, with job creation being the most important one. We also have a smaller pool of buyers due to all the foreclosures, and the tightening of lender standards which includes larger down payments.

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Categories: Ann Arbor Market Updates, Ann Arbor Real Estate, Ann Arbor Real Estate Trends

Ann Arbor’s Blackbird Theatre Finds a Permanent Nest

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dramaOne of Ann Arbor’s cultural icons, the Blackbird Theatre, has established its permanent nest at the SH\’aut\ Cabaret and Gallery, 325 Braun Court in Kerrytown – right across from the Farmers Market. After a year of experimenting with various locations and after seven years at the Children’s Creative Center on Pauline Boulevard,  the Blackbird has roosted in its new spot. Founding artistic director Barton Bund feels confident that the company will continue to grow and thrive in its new locale.

Last Tuesday evening, Bund’s celebration of the Blackbird’s new home also ushered in a new era of dynamic, cutting-edge artistic endeavor for downtown Ann Arbor. In addition to  consistently offering a diverse body of original work, the Blackbird offers free educational programs, and performance opportunities for all students in Washtenaw County. The Blackbird strives to bring students together with the area’s most talented and established theatre veterans. Read the rest of this entry

Categories: Ann Arbor Businesses, Ann Arbor Community Events, Ann Arbor Condominium Complexes, Ann Arbor Neighborhoods, Ann Arbor Real Estate, Downtown, Kerrytown

Ann Arbor Downtown Library Lot Development Discussion May Regain Life Soon

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As of last Thursday, there are big changes beginning near the Ann Arbor Downtown Library. Fifth Avenue from Liberty to Williams is now closed, and will remain so for at least a year. The northern section of the Library’s porch is closed, and handicap access has moved to William Street (with a new incline that ends across from the automated door). Bike hoops are now near the flagpole. So why are all of these changes being made?

At present, the Downtown Development Authority (DDA) is building an underground parking deck on the Library Lot site, which is the cause of the immediate (and ongoing) disruption. However, the top of the lot has been – and remains – under discussion. Several months ago, the League of Women Voters hosted a public meeting about possible uses for the Library Lot. At that meeting five, five-minute proposals for potential development were presented, followed by an hour of questions and answers. The League’s intent was to keep the city council apprised as to what kinds of development Ann Arbor residents were interested in seeing.

Part of the issue, as discussed in our previous blog Plannning for Green Space in Arbor, No Walk in the Park, is over whether the land should be used for commercial development or for greenpsace or other public purposes.

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Categories: Ann Arbor Businesses, Ann Arbor Community Events, Ann Arbor Neighborhoods, Ann Arbor Real Estate, Downtown, Going Green

Barclay Park Condominiums – Offering the Best of City and Country Living

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Barclay Park CondosIf you’re an Ann Arbor homeowner, or perhaps considering a move to a condominium in the Ann Arbor area, you’ll definitely want to take a look at Barclay Park Condominiums. Situated on the northeast side of town, Barclay Park offers the best possible combination of urban and rural living.

Barclay Park is located next to the 14-acre Oakwoods Nature Area, which provides ample space and opportunities for bird watching. Within the private community itself, there are several ponds, and a boardwalk which overlooks Lake Ariel. You can also enjoy the Matthaei Botanical Gardens, just a short distance away at the University of Michigan. If basking in nature sounds appealing, Barclay Park is definitely the place for you.

Despite the fact that Barclay Park offers rural ambience, you’ll have no worries about access to the city of Ann Arbor for work or play. Situated on the city bus route, Barclay Park is just minutes from both the University of Michigan and downtown Ann Arbor. Enjoy all of the amenities and benefits of city life while you revel in a laid-back, rural atmosphere.

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Categories: Ann Arbor Condominium Complexes, Ann Arbor Real Estate, Ann Arbor Real Estate Trends, Barclay Park

Battery Plants Will Reinvigorate Ann Arbor Region’s Economy

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A few weeks ago, President Obama made a literally “groundbreaking” visit to Holland (two hours west of Ann Arbor, Michigan). The purpose of the trip was to attend the ceremony inaugurating the construction of new a battery cell manufacturing plant. The LG Chem/ Compact Power plant’s construction is a strong, visible outcome of the Obama administration’s commitment to the development of a thriving battery industry in America.

In 2009, the state of Michigan announced its intent to become a leader in battery cell manufacturing production. In addition to the LG Chem/Compact Power plant, six other manufacturers have announced decisions to move to Michigan – giving our state more such plants than any other in the country.

The joint venture with LG Chem is one of two major forward moves by Compact Power. They will also join forces with Ford Motor Company. That project will build batteries for the electric version of the 2011 Ford Focus. And Johnson Controls-Saft will provide jobs for 500 more workers when construction of their $220 million lithium-ion plant in Holland is completed.

Greg Main, the president of the Michigan Economic Development Corporation, notes that, “This visit cements the Obama administration’s commitment to building a battery industry in the United States.” With the help of federal stimulus funds in the range of $1.3 billion, Michigan is able to offer attractive incentives – including credits designed to offset business tax liabilities associated with start-up costs.

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Categories: Ann Arbor Businesses, Ann Arbor Real Estate

What’s the Price of Art in Ann Arbor?

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Most people would agree that every work of art contains elements of beauty; they would also agree that beauty is in the eye of the beholder. For those of us living in Ann Arbor, the issue at hand is another classic question: what’s the price of beauty – and can we, as a community, afford it?

A few weeks ago, German artist and landscape architect Herbert Dreiseitl presented a proposal for a modern artistic installation to grace the new police and courts building, currently under construction. The design was was well received, but the presentation capped a debate which has been ongoing since 2007. At that time, the city of Ann Arbor decided to earmark one percent of all funds for capital improvement projects (costing $100,000 or more) for public art. Although the fund, called Percent for Art, limits payment to Dreiseitl to $700,000, some Ann Arbor residents believe that those monies could (and should) be put to far better use.

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Categories: Ann Arbor Community Events, Ann Arbor Real Estate

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