By Jim Newell
Review Editor
The village council voted 6-0 during its meeting on Monday to proceed with a land split that could lead to a potential property sale. Councilmember John Ranville was absent from the meeting.
JS Capitol Group LLC owner Jeff Schmitz owns and is developing the four-story building currently under construction at 120 S. Broadway St. next to Paint Creek in the village.
Village Manager Joe Young said the village has received a $10,000 offer from JS Capitol to purchase 10,350 square feet of vacant village-owned land on the backside of the building, between the development and Lapeer Road (M-24).
The village-owned parcel (09-02-461-003) is approximately 32,500 square feet and does include some MDOT right of way up to the sidewalk on M-24, according to village documents.
JS Capitol has proposed expanding the parking lot for the 120 S. Broadway St. building on to village-owned property, said Young.
The development currently has 36 parking spaces slated. If JS Capitol acquires the property it could add another 12 parking spots for tenants, Young said.
By purchasing the village-owned property, JS Capitol would be able to add five parking spaces on the current property and seven on the portion currently owned by the village.
“In order for the village to consider selling this property a lot split would need to be needed, a fair market value determined and then we would have to post it and go through a public bid process,” Young said.
A lot split would potentially cost between $3,500 – $5,000. The current estimated fair market value of the property under consideration, based on Oakland County recent sales, is estimated at $10,000, according to a village council action summary sheet.
“This has a lot of work to it yet and MDOT hasn’t been contacted about this yet,” Council President Ken Van Portfliet said.
When finished, the 120 S. Broadway St. building will have commercial space on the ground floor and 24 luxury apartments on the upper three levels, eight apartments per level, according to design plans originally submitted to the village.
For more information on the 120 S. Broadway St. development, including conceptual plans, go to 120southbroadway.com.
JS Capitol also owns the property on the corner of Flint and Anderson streets, 44 E. Flint St., the former Lake Orion Pet Centre property.
The Downtown Development Authority has a shared parking lease agreement with JS Capitol for the property and will reimburse an estimated $3,227 in property and village taxes on the lot in exchange for public parking for one year.
Front Street also will see changes in the future, when Front Street north of Broadway Street becomes open to two-way traffic.
The village had previously approved a new parking lease agreement with Verwood Place LLC, a property management company that purchased The Verwood apartment building at 54 S. Broadway St. on the north side of Front Street.
Under that agreement, The Verwood’s gated parking will be removed and Front Street, which is currently a one-way street west of Broadway Street, would become open to traffic in both directions.
While The Verwood would retain 10 parking spots, the village would provide at a yet-to-be-determined location eight spots for Verwood tenants once the gated parking is removed.