PrinciplesLeveraging Private and Public Funds to Create Greater Beneficial Impact
Partnering in downtown development projects enables the DDA to help guide development that realizes community goals and objectives. In particular, mixed-use projects and neighborhoods are part of the DDA's vision for future development in accordance with the Downtown Plan, as they promote a lively, vibrant, healthy, 24-hour downtown by bringing together different types of building users in one location.
StrategiesPrivate Land Development
- Partner with developers to arrange and finance ancillary improvements necessitated by development, such as parking and streetscape improvements.
- Work with developers to address the public benefits portion of developers' projects, such as affordable housing or storm water management.
The City of Ann Arbor, University of Michigan, Washtenaw County, Ann Arbor District Library, and the Ann Arbor Public Schools control many desirable pieces of downtown real estate. Many of these sites are currently underdeveloped, or are the sites of functionally obsolete buildings that will eventually need replacement.
- Encourage the development of public land to meet community goals, and attract people and businesses to downtown Ann Arbor.
- Involve private developers in the development of public land to leverage as many private investment dollars as possible. This type of partnership draws upon the strengths of each entity: the public sector can provide the land and lower finance rates for funding public improvements necessitated by the development. The private sector contributes taxes, creative development ideas, development expertise, finances, and the marketing skills needed to make the project work.