The Gallery condo project at former Greek Church seeks site plan extension
Paula Gardner | AnnArbor.com
The project for a $67 million mixed-use, 11-story condo tower at the site of the dilapidated Greek Orthodox Church building first received approval from the city in 2006.
The site plan was already extended once in 2009 for two years, said Wendy Rampson, the city’s planning manager.
The project was sidelined for several years due to financial issues, including when a lender went to court in 2010 to collect a $2 million debt on the property.
Huntington National Bank sued North Main/Fourth Ventures LLC, the ownership entity led by Ann Arbor developer Michael Concannon; his business partner Paul Sieben of Ohio; and 414 N. Main St. LLC, an entity led by Mel VanderBrug of Bloomfield Hills.
But according to an administrative amendment submitted to the city Aug. 3, the developers “have a commitment for financing for the project and therefore have decided to apply for the extension.”
The extension, which would keep the plans for the project alive for another two years, would allow the developers “time to bring the project to market,” according to the amendment.
Concannon’s LLC bought the property — which includes the former church, the adjacent parking lot and vacant property at 401 N. Fourth Ave. — in 2005 for $2.35 million.
Concannon planned the 11-story high-rise facing North Main, with 95 condos, ground-floor retail space, a floor of offices and 213 underground parking spaces. A four-story building with retail and 18 apartments was planned for the Fourth Avenue property.
However, a troubled real estate market delayed the project as Concannon sought investors and negotiated with the bank for construction financing.
Concannon declined to immediately comment on the request for a site plan extension.