Investor, oil and gas professional and business and property owner Terry Beia will be honored as the recipient of the 26th Annual Lyle DeYoung Downtown Achievement Award. The honor will be awarded at the Downtown Traverse City Association (DTCA) Annual Meeting held tonight (Thursday, June 7) at the City Opera House.

The annual award is presented to a community member(s) who has made a significant contribution to the vitality of downtown Traverse City. It is named in honor of the late Lyle DeYoung, a downtown leader who passed away in 1992. 

In the early 80’s, Terry moved to Traverse City to pursue a petroleum degree at NMC. He is an investor in the oil and gas industry and in renewable energy companies, and has been a significant investor and property owner in downtown Traverse City.

In 1998, recognizing the importance of a strong city center, Beia purchased his first building, "The Arcade" on Front Street. Shortly thereafter, he and partners invested in several buildings in the downtown area, improving many of them.

Terry was appointed to the Traverse City DDA Board of Directors in early 2000 and served on the board for eight years, including as vice chair and chair. 

Terry was an original board member with Traverse City State Bank for 17 years and now continues to serve on the newly merged Independent Bank board. He also serves on the board of North Bay Capital, which focuses on providing affordable housing in the area. 

“We are fortunate to have individual such as Terry who not only has invested in Downtown Traverse City, but has revitalized several properties. His commitment to our community is what makes him a well deserved recipient of this award,” says Jean Derenzy, DDA CEO.