Large vacant land parcel in Traverse City, Michigan. This is one of the last large development parcel located within the City of Traverse City limits
Three West is pleased to present this excellent development parcel in Traverse City, Michigan. This is a Bank Owned Property. This 15-Acre +/- parcel is located in Leelanau County but within the city of Traverse City limits. The local jurisdiction for the property is the City of Traverse City. The parcel is zoned R1-b / Mixed Use PUD, which has recentley been modified to allow for C2 Uses as well as Lodging Facilities. This parcel would be perfect for the development of an Assisted Living / Affordable Housing development.
PROPERTY STATISTICS
Property Size: 14.94 Acres +/-
Property Address: 10597 East Traverse Highway (M-72)
Zoning: R-1B / Mixed Use PUD / Morgan Farms Area
Water Source: Municipal
Sewer Source: Municipal
M-72 / M-22 Intersection ADT (2006): 23,800
PROPERTY HIGHLIGHTS
Zoning allows for construction of C2 uses and lodging facilities of up to 50% of gross floor area of the project where at least 20% of the project's housing units meet the City's affordable housing standards.
Opportunity to develop the only hotel / motel on Traverse City's west side.
Highway frontage and exposure (M-72)
Workforce Housing Incentives including grants and other Low Income Housing Tax Credits and Vouchers may be available.
Property is located close to Tom's Food Market, local bank branch, laundry facility, downtown and jobs.
The TART Trailis located within 1/2 mile of the site which allows access for bicycles and pedestrians from Suttons Bay to Williamsburg.
Public Transportation is available through BATA (Bay Area Transportation Authority) within the Traverse City Region.
