Brownfield Plan Sought for Randolph Street

A proposed three-story, 27,555 square-foot development on Randolph Street could be eligible for a brownfield plan if Traverse City commissioners approve the request tonight.

The Grand Traverse County Brownfield Redevelopment Authority is recommending approval of the brownfield plan for the site, which will cover four parcels stretching from 603 to 615 Randolph Street set to be demolished to make way for a mixed-use building featuring 9,380 square feet of commercial space on the first floor, ten residential units on the second and third floors and a parking garage. The Brownfield Authority estimates the project will increase the taxable value of the property from $207,184 to $1,019,338 and create 24 new jobs. The development plan calls for "green infrastructure building techniques" including a green "living" roof, and the removal of environmental contamination at the site. Brownfield clean-up costs are estimated at $654,153.

If approved by commissioners, the brownfield plan would be in place at the site for 18 years, with the developer expected to be reimbursed for eligible costs within 15 years.