Ann Arbor could get a huge economy boost by the development of what they are calling “the Library Lot”

City officials have been meeting and discussing many proposals for the land and the one that has caught many peoples eye is by a group of New York investors known as Valiant Partners LLC who is proposing a project called Ann Arbor Town Plaza Hotel and Conference Center. It includes plans for a 150-room hotel, 32,000-square-foot conference center, condos, restaurants and retail shops. Part of the funding would come from a proposed $8 million bond issued by the city paid back over 20 years with proceeds from the hotel.

Other proposals included several hotel ideas but this proposal is one which was talked about extensively.  It does show a clear narrowing of focus on the city’s behalf.

Asides from creating jobs it would bring a further development to Ann Arbor as well as provide a boost for surrounding restaurants and hotels in the area as the conference center hosts its first events.

Watch this space to see how this story develops – it will certainly be very interesting as a development of this size will have an effect on the city.

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