The township agreed to pay the Market Insite Group, a California company which has a branch office in Troy, to create a plan for two struggling streets.
The consultant group says four miles of Michigan Avenue and Ecorse Road should support more than 15 stores and restaurants. These businesses would make profits of almost $20 million together if they decided to come to the area, according to the consultant's plan.
"We basically acted like a shopping center, we wanted to see what would bring people out," says Kevin Kwiatkowski, director of community and economic development. "We paid for the first part of a feasibility study for any interested company, and we're giving it out to them free of charge."
The two roads have become heavily traveled due to a migration of residents from the Metropolitan Detroit area westward toward Ann Arbor, Kwiatkowski says. Currently, the road hosts a few retail businesses mixed in with vacant parcels, he adds.
The plan shows the area could support many different types of businesses with varying success. A 12,000-sf produce market could bring in $3.5 million in annual sales, while a 15,000-sf women's apparel store could bring in $3.6 million, and a restaurant that serves liquor could bring in $1.14 million in profit per year, according to the plan.
"We wanted to prove to businesses that they can make it on the corridors," Kwiatkowski tells GlobeSt.com.
The township has made changes to the master plan to encourage development, and has cut back on other development laws, such as zoning requirements, for the two roads, he says.
Kwiatkowski says the two corridors can be as viable as businesses in Ann Arbor and the city of Ypsilanti, two bustling commercial areas, if enough investment is made.
"We have a lot of owner-user properties, not a lot of absent landlords. We want to reach out to our community to improve the area, and increase our exposure to commercial real estate. Our prices are lower for land, they should come here," he says.
The plan is being sent to area brokers and developers, Kwiatkowski says. The community is one of the top 10 areas for new residential growth. About 450 new home permits have been pulled each year for the last few years, Kwiatkowski adds.
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