PROPERTY INFORMATION PACKAGE: 412 Webster St

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1 C O M M U N I T Y D E V E L O P M E N T B O A R D M A N A V E N U E T R A V E R S E C I T Y, M I C O N T A C T : J E A N D E R E N Z Y j d e r e n z g r a n d t r a v e r s e. o r g PROPERTY INFORMATION PACKAGE: 412 Webster St A DA P T I V E R E - U S E O P P O R T U N I T Y F O R H I S TO R I C B U I L D I N G

2 This three-story historic building is 35,250-square feet and sits on one acre, including on-site parking. The site is within walking distance of both Grand Traverse Bay and the Boardman River, and a diversity of retail boutiques, dining, lodging, office, and entertainment destinations in the adjacent Downtown and Eight Street neighborhoods. DEMOGRAPHIC PROFILE For 10 mile radius: Population: 77,845 Median Age: 41.3 Median Income: $50,586 Educational Attainment: 42% (Bachelor s or higher) Downtown Boardman Ave Grand Traverse Bay Front St Continued low vacancy levels reflect the strength of downtown Traverse City as a regional destination for residents and tourists, and the hard work of the DDA and its partner organizations to identify tenants, support parking initiatives, and serve as an advocate for downtown. The local pace of economic activity has accelerated since 2009 at rates faster than state averages. Eighth St 2016 DOWNTOWN & CORRIDOR MARKET ANALYSIS UPDATE: Be a part of ENIVISION EIGHTH The City of Traverse City is committed to the rebirth of Eighth Street with its recently endorsed Envision Eighth Redevelopment Plan.

3 Alley SITE INFORMATION Webster Site Description: Incentives: Former historic public school building built in 1914 currently serving as an office administration building. Complete Incentive Package available customized to Developer Boardman Avenue Legal Description: Lots , Block 15 Original Plat, Traverse City Parcel ID Number: Appraisal (2009): Owner: Zoning: Utilities: $1.5 million Traverse City Area Public Schools Mixed-Use Water, Sewer, Natural Gas, High-Speed Fiber (Coming soon!)

4 AMENITIES Traverse City offers businesses a variety of space size and price, a central location in Michigan's fastest growing retail market, Northwest Michigan's financial center with over 25 financial service businesses, and Michigan s best tourist traffic. 26,000 employees work in Traverse City with over 6,000 downtown employees enjoying unique outdoor amenities with shopping and dining downtown every day. Downtown Traverse City Northwestern Michigan College and University Center Boardman Lake, Boardman River and Grand Traverse Bay County and City Governmental Center Envision Eighth Street Redevelopment Plan SUBJECT SITE FACING NORTH TO GRAND TRAVERSE BAY Grand Traverse Bay West Arm Governmental Center Boardman River Eighth Street

5 SITE LOCATION

6 C O M M U N I T Y D E V E L O P M E N T B O A R D M A N A V E N U E T R A V E R S E C I T Y, M I C O N T A C T : J E A N D E R E N Z Y j d e r e n z g r a n d t r a v e r s e. o r g PROPERTY INFORMATION PACKAGE: Eighth & Wellington H I G H LY V I S I B L E VA C A N T C O R N E R F O R N E W D E V E LO P M E N T

7 This highly-visible, vacant corner offers an array of development opportunities. The site consists of two parcels 444 East Eighth Street and 508 Wellington Street within walking distance of Grand Traverse Bay, the Boardman River, Boardman Lake and a diversity of retail boutiques, dining, lodging, office, and entertainment destinations in the adjacent Downtown and Eight Street neighborhoods. DEMOGRAPHIC PROFILE For 10 mile radius: Population: 77,845 Median Age: 41.3 Median Income: $50,586 Educational Attainment: 42% (Bachelor s or higher) Continued low vacancy levels reflect the strength of Traverse City as a regional destination for residents and tourists, and the hard work of the DDA and its partner organizations to identify tenants, support parking initiatives, and serve as an advocate for downtown. The local pace of economic activity has accelerated since 2009 at rates faster than state averages DOWNTOWN & CORRIDOR MARKET ANALYSIS UPDATE: Be a part of ENIVISION EIGHTH The City of Traverse City is committed to the rebirth of Eighth Street with its recently endorsed Envision Eighth Redevelopment Plan.

8 Wellington SUBJECT SITE FACING SOUTHWEST Eighth Street SITE INFORMATION Site Description: Vacant, corner location. Former site of automobile filling station. Incentives: Complete Incentive Package available customized to Developer 444 East Eighth Street Legal Description: N 67 FT OF LOTS HANNAH LAY & CO 8TH ADD Parcel ID Number: Wellington Street Legal Description: N 63 FT OF S 98 FT OF LOTS HANNAH LAY & CO'S 8TH ADD Parcel ID Numbers: Owner: Zoning: Utilities: Blarney Castle D-2 Development District Water, Sewer, Natural Gas, High-Speed Fiber (Coming soon!) PUBLIC AND PRIVATE INVESTMENT ARE PLANNED FOR EIGHTH STREET

9 Wellington Street AMENITIES Traverse City offers businesses a variety of space size and price, a central location in Michigan's fastest growing retail market, Northwest Michigan's financial center with over 25 financial service businesses, and Michigan s best tourist traffic. 26,000 employees work in Traverse City with over 6,000 downtown employees enjoying unique outdoor amenities with shopping and dining downtown every day. Downtown Traverse City Northwestern Michigan College and University Center Boardman Lake, Boardman River and Grand Traverse Bay County and City Governmental Center Envision Eighth Street Redevelopment Plan SUBJECT SITE FACING SOUTH TO BOARDMAN LAKE Boardman Lake Eighth Street

10 SITE LOCATION