Arbor South — a mixed-use development by Oxford Companies and Crawford Hoying — is set to begin construction this January. In late September, Gov. Gretchen Whitmer announced the Michigan Strategic Fund Board’s approval of an Act 381 plan, a tax increment financing program that will help fund the project.
Arbor South, which was approved by the Washtenaw County Board of Commissioners May 21, will revamp a 20-acre plot of land on Ann Arbor’s south side. It will include nearly 100,000 square feet of commercial space for restaurants, retailers and other businesses. Under its classification as a brownfield, the land is currently considered underutilized and vacant. The project will be funded by tax increment financing, meaning the developers will be paid back through future tax revenue generated by Arbor South.
The additional TIF funding now granted to the project by MSF will further support the project’s development. In an interview with The Michigan Daily, Andy Andre, Oxford Companies vice president for real estate development, said rising costs are complicating existing development projects and support from organizations like the Michigan Economic Development Corporation is a necessity…