Look at What’s Happening Downtown
The downtown Traverse City real estate boom appears to have no end in sight. When Dingeman & Dancer, PLC built on the former Bean Pot location in 1996, an aging auto repair garage, Selkirk’s farm market in a former gas station, and the building now housing Chase Bank, surrounded it.
The recent sale of the Chase Bank building highlights the continued growth and investment in downtown Traverse City. Prior to 1996, the last new construction downtown was the current Chase Bank building in 1973. Now our neighbors to the west and south, Radio Centre Phase I & II and 101 North Park, are major commercial anchors for downtown. The growth continued in 2013. The building that houses Orvis, Toy Harbor, and Chico’s also sold to new owners; the Petertyl’s Pharmacy building changed hands; and Keen Technologies is ambitiously re-developing the corner of Cass and Union Street with new office space and a spin-off of the Trattoria Stella restaurant. Also, on the eastern end of downtown a new credit union building is under construction; on the western end, a four building, mixed use development and parking deck, has begun to work its way through the City planning department.
The redevelopment of downtown has also led to increased demand for real estate in the surrounding area. Commercial real estate sales on Eighth Street, Fourteenth Street and Division Street also occurred within the Traverse City limits. Since 1996, much has developed in the Warehouse District and the renovation of the building that includes North Peak Brewery. The first new downtown hotel in decades, Hotel Indigo, is also under construction in the Warehouse District.
The real estate attorneys at Dingeman & Dancer, PLC have represented clients in many of these acquisitions; and in the construction, financing, leasing and sale of real estate. Our real estate lawyers understand the business of real property, especially in Traverse City.