26-1516: Agenda Response Memo and eComments September 8, 2026

Description

Agenda Response Memo and eComments September 8, 2026

Summary

The memo explains the proposed sale of Ann Arbor’s Kline’s Lot to Hines for a two-phase, mixed-use development. The Purchase Agreement requires at least 450 market-rate residential units, 10,000 square feet of commercial space, and all-electric residential facilities. It preserves space for a 22-foot two-way alley, a six-foot pedestrian connection, waste facilities, and temporary public parking until Phase 2 begins. Site-plan and permit reviews will determine final loading, sidewalks, access, and construction measures. The price is $31,500 per approved market-rate unit, with a $14.175 million minimum; estimated minimum proceeds after brokerage fees are $13.675 million. Closing may take several years while approvals and financing are secured. Phase 1 must begin within 180 days after closing, but Phase 2 has no completion deadline. The agreement binds successors, while commercial space is exempt from the all-electric requirement and short-term rentals are not prohibited.