DEXTER, MI — A plan for Dexter to sell a piece of downtown for a mix of new residential and commercial buildings has again hit a roadblock, with would-be developers backing out.
In April, the Dexter Downtown Development Authority voted unanimously to approve a $1,390,000 purchase and sales agreement to sell what is known as the 3045 Broad Street Redevelopment Area. The area is composed of five vacant lots along Mill Creek Park, on both sides of Broad Street between Forest and Grand streets.
Michael Ferlito, of Detroit-based Ferlito Group, and his real estate development partners Luke Bonner and Matt Walters have asked to terminate the purchase agreement…