ANN ARBOR, Mich. (June 26, 2024) — The Ann Arbor Housing Commission and Related Midwest today announced a partnership to co-develop an affordable housing development on a prime site in downtown Ann Arbor, one block from Main Street. The site is one of several properties that the Housing Commission is partnering with the City of Ann Arbor to develop as affordable housing.
Currently used for public parking, the site at 350 S. Fifth Ave.—known as the Y Lot—previously housed the Ann Arbor YMCA, which relocated in 2005. The former YMCA building and its 100 affordable housing units were demolished in 2008, and after being considered for redevelopment several times over the past 15 years, the site was ultimately sold to the Housing Commission in 2023.
With the goal of bringing much-needed affordable housing to this transit-oriented site in the heart of downtown, the Housing Commission reviewed proposals from seven developers as part of a competitive RFP process. Related, the largest developer of affordable housing in the Midwest, was ultimately selected to co-develop the project. As proposed, the development will include 260 to 300 units that will be considered affordable to a broad spectrum of households. The greater of a minimum of 100 units or a minimum of 40% of the units will be for households earning up to 60% of the area median income. Lifestyle amenities and coordinated services will enhance the residential experience at the new development.
“With a reputation for delivering community-enriching affordable housing and a strong track record in Michigan, Related Midwest is the ideal partner for this highly anticipated project,” said Jennifer Hall, Executive Director of the Ann Arbor Housing Commission. “We look forward to leveraging their development and multifamily finance expertise to achieve the highest level of affordability across the greatest number of units, ensuring this site will once again serve the people of Ann Arbor.”
Key elements considered in selecting a developer for the project included alignment with Ann Arbor’s sustainability goals and a strong commitment to community engagement and local workforce development. Related has extensive experience with both components, having won numerous awards and high-level environmental certifications for its residential developments. The firm is also a founding member of HIRE360, a cross-industry partnership designed to provide sustainable career opportunities for local residents and support women- and minority-owned businesses.
“Collaborative public-private partnerships are vital to addressing our nation’s affordable housing crisis, and we are honored to work alongside the Ann Arbor Housing Commission and other local stakeholders to realize this site’s full potential,” said Curt Bailey, President of Related Midwest. “As a firm with extensive experience developing, owning and operating affordable and mixed-income housing communities throughout the Midwest, we know how transformative projects like this can be.”
In conjunction with the new residential development, the Ann Arbor Area Transportation Authority (AAATA) and the Ann Arbor Downtown Development Authority (DDA) are planning a full reconstruction of Fourth Avenue between William and Liberty streets. Coordinated in partnership with the Housing Commission, the project will begin in 2026 and include repaved travel lanes, widened sidewalks and enhanced lighting, among other improvements designed to promote the safety and comfort of area residents across multiple modes of transit.
In addition to being selected for the Ann Arbor development, Related Companies is working in partnership with Michigan-based Olympia Development to create The District Detroit, a new mixed-use development in downtown Detroit. The project will feature affordable and market-rate housing, sustainable green spaces, commercial offices, hotels, retail and restaurants. It will also house the University of Michigan Center for Innovation (UMCI), anchored by a world-class 200,000-square-foot research, education and entrepreneurship center. The District Detroit aims to become a vibrant, inclusive community that attracts global companies and expands economic opportunities for Detroiters.
Furthermore, Related Affordable recently acquired and renovated four affordable housing communities across Michigan totaling 524 units and representing a combined investment of $94 million. All four projects were completed in partnership with the Michigan State Housing Development Authority.
Related Midwest: Tricia Van Horn (312) 832-4114 tvanhorn@relatedmidwest.com
