Expansion at East Bay Plaza, Downtown Condos Coming Soon

Tom McIntyre has his hands full. In addition to running Passageways Travel, McIntyre’s East Bay Plaza is about to expand, while his new Washington Place condo development in downtown Traverse City is set to break ground this fall.

East Bay Plaza, located at Munson Avenue and Airport Access Road, is first on the agenda. The retail property -- which is fully leased to tenants including Tom’s Food Market, Jo-Ann Fabrics, Dunham’s and others – will soon see the addition of a building in the parking lot west of Life Story Funeral Home.

McIntyre tells The Ticker that the new 4,500 square foot building will bring Bigby Coffee and Basic Communications to the Plaza; a third tenant has yet to be announced. The building will break ground this fall and should be complete in January.

“We are in the process of finalizing a ten year master plan,” McIntyre explains, noting that the long range plan could include acquisition of nearby properties and the eventual addition of affordable housing and a big box retail store or restaurant.

“The entire plaza will eventually also have a new façade and will be completely redesigned,” McIntyre adds, “and this first new building will reflect that new look.”

Expansion at the Plaza had been announced – with Brownfield dollars approved – more than two years ago, though the economy and lack of demand for new retail stalled the project.

“The local market matured, and it’s a more realistic project now,” says McIntyre. “Meijer certainly helps,” he adds, noting the east side momentum building based on activity in Acme.

Across town, McIntyre’s Washington Place condo project has hit its sales stride. First announced in 2012 as a four-story project with 18 condo units, presales have prompted McIntyre and his wife Sheila to add a story and bring the total residential condos to 23 or 24.

“The sign went up and we began preselling two years ago, but this March and April it really took off,” he says, noting that just nine residential units remain available.

The demographics of those who have paid deposits on the initial Washington Place condos illustrate the recent demand for downtown Traverse City living.

“We have buyers from California, Texas, Detroit. I’d say half are from out of the area, and most are empty nesters,” says McIntyre. “Though we do have at least one young family with teenage children.”

McIntyre says the average condo price will come in at $450,000, with the highest priced reaching above $950,000. The most expensive units will include an underground parking space; other units will come with outdoor, covered parking. Two commercial condos will be available on street level.

Underground utility work for Washington Place is slated to begin around Labor Day, with groundbreaking later this fall. Construction will take 11-12 months, according to John Laureto, now serving as McIntyre’s construction manager for both projects.