Feb. 2017 What’s New In the Central Neighborhood

  • The Pine Street project (previously called River West) that triggered the Prop. 3 vote in Traverse City has been reintroduced at 60 feet and 275,000 sq. ft. It fits on the site and will sold at market rate to the general public. All 220 apartment units will be available for rent with some first come first served public parking in the lower level of the complex. With commercial space on the ground floor this will be a more traditional  mix of sizes and price points serving the downtown market. The project can be “built by right” as it fits the current zoning for the area and it will be immediately West of the yet to be built public parking deck. We’ll see how this progresses and whether it can put any kind of a dent in the in town housing need.
  • The discussion on street improvements has now shifted to 8th Street. Lots of neighborhood discussion about bike lanes and building heights in this one. Whatever happens will affect the Central Neighborhoods as traffic on this East-West corridor can adversely affect the ability of residents to head East or West to and from this neighborhood. There is still over year of planning ahead for the street renovations but it will disrupt the flow of traffic once it begins.
  • As the snow begins to thaw, and then freeze again, so to has people’s appetite for considering a housing move. While current inventory is really low there are folks in the Central Neighborhood considering selling. The prices they will be asking are mid $200K to mid $300K and are found in the heart of the neighborhood. That’s good news for some first time homebuyers and those looking for a home in this classic neighborhood. If you need something now take a look at the current listings in our neighborhood section. I find that alley access and a garage are huge selling features on these very tight lots. Classic urban living in a historic and walkable area.