The Ypsilanti train depot near Depot Town is one of several properties being considered by the Ypsilanti Downtown Development Authority for redevelopment.
Dennis Dahlmann currently owns the train depot as well as Dahlmann Properties and multiple buildings in the Ann Arbor area. He purchased the property from James and Carol Kovalak in November 1999 for $179,000.
Ypsilanti Mayor Paul Schreiber told AnnArbor.com that he last spoke to Dahlmann about the train depot a few months ago and Dahlmann said he would be willing to sell the building at market price or work with someone in a partnership.
The assessed value of the train depot in 2012 is $83,700, which according to city records would make its market value double that price.
The Ypsilanti DDA’s goal is to spur development of the community’s downtown district and provide a variety of funding options including a tax increment financing mechanism, which can be used for funding improvements in the downtown district.
The Ypsilanti DDA consists of 12 board members appointed by the mayor as well as the mayor himself. YpsilantiDDA.org describes their mission as undertaking “district-wide improvements that have the greatest impact in strengthening the downtown areas and attracting new business.”
The DDA can use its bonding capacity and taxes acquired through new construction to help fund developments that encourage economic growth in the downtown Ypsilanti area, but is subject to City Council approval.
AnnArbor.com reported the DDA is considering the creation of a policy that will address bank-owned and vacant properties. At the Economic Restructuring and Design Committee’s meeting Oct. 24, the DDA discussed how to make those types of buildings of use to the community.
The Ypsilanti train depot hasn’t been used for decades. The property’s parking lot is currently used as additional parking for Depot Town businesses, but the building remains vacant.
The depot was previously considered as a spot for the Ann Arbor to Detroit commuter rail to come through, but officials concluded the depot was too close to the tracks to install a station. Now the west side of the freight house may be used as the train stop, and six refurbished commuter cars made a test run through Depot Town in
early November.
City officials have agreed that a commuter trail line stopping through Ypsilanti would be beneficial to the city and City Manager Ralph Lange told Ann Arbor.com that “urban transportation is a huge asset for economic development for a community like Ypsilanti.”
Colbeck told AnnArbor.com a policy for redevelopment of properties like the train depot has not yet been approved, but that such a policy would help push banks and owners to accept offers on their properties so they can be put to better use.
Renovations of vacant buildings could raise property values, which will in turn raise the amount of property taxes made, an area that the DDA has seen a decline in for the past three years. Colbeck also told AnnArbor.com that the rehabilitation of these properties could boost the look and tax base of the city, as well as the morale.
