$30 Million Building 50 Deal Signed
Oct. 3, 2013
A deal worth approximately $30 million to bring an upscale senior living complex to the Village at Grand Traverse Commons was finalized yesterday. Officials tell The Ticker that documents were signed, delivered to Lighthouse Title in Traverse City, and executed.
Boston-based Cordia has purchased the north wing of Building 50 (approximately 111,000 square feet) from The Minervini Group.
Once complete, Cordia at Grand Traverse Commons will include 109 upscale senior residences and several amenities such as a spa, theatre, pub, and more.
Mike Parks of Cypress Partners, co-developer with Cordia, says “Construction efforts are immediately underway spearheaded by Cunningham-Limp, a Michigan-based construction firm. We expect that visitors to The Village at Grand Traverse Commons will see evidence of the beginnings of the long-awaited transformation of the remaining undeveloped portion of Building 50."