Downtown Traverse City’s Rotary Square

Earlier this summer the Downtown Development Authority (DDA) announced its plans to purchase the TCF Bank site (formerly known as Chemical Bank/Northwestern Bank) on the corner of Union Street & State Street to become the City’s new civic square. The City has been looking for the perfect location and opportunity for a civic square for over two decades and has found a central location that will serve as a connection between Downtown and Old Town.  The $1,750,000 purchase was made possible by a $1,000,000 grant from Rotary Charities, the organization that has been looking for a signature legacy project in Traverse City to commemorate its centennial anniversary.  A $2,000,000 grant from the Michigan Economic Development Corporation will help make this vision a reality by providing additional funds needed to relocate TCF Bank and design and build the new “Rotary Square”.

At the beginning of last month, the city cleared a path to develop Parking Lot G on State Street across from Rotary Square by declaring the lot surplus property.  This allows the underutilized lot to be developed by a private developer with the DDA’s vision of creating a new home for TCF Bank as well as an opportunity to build housing or a mixed-use building in a prime downtown location.

I recently talked to Jean Derenzy, the CEO of the DDA and her excitement for the project and surrounding area was palpable.  She envisions the project drawing new businesses to the area and describes the block of Union Street between Front & State as a key connector street for the Square.  While this block has had mixed reviews in the past because of its reputation as a bar street, she feels the square will help bring a better mix of businesses to the street and create opportunities for additional businesses to flourish in the area.

We discussed a vacant space I have listed for sale at 127 Union Street which in the past has been home to Ram’s, Harvest & Union Grill but currently sits vacant waiting for its next chapter.  We agreed about the incredible opportunity this space has and how sought after the location may become in 2022 after the new Square is built and pedestrian traffic has more of a reason to come around the corner of Front Street.  We talked about ideas for the space other than a restaurant and my favorite was dividing it in two and putting a retailer in the front of the building and a commercial kitchen in the alley, with access similar to what Charles & Reid Pizza (formerly Alley’s Pizza) has done.  Jean said that developing Lot G would also strengthen the traffic for an alley based business.

Rotary Square will offer a place for outdoor and social activities.  It will provide a place for art, performances, and cultural activity. It will be used year-round with possibilities of a Christmas tree, Santa’s house, and ice skating in the winter to a farmers market, music, and place to eat and hang out in the summer months.  It is located very close to the new Fish Pass that will be on the Boardman River across the alley, giving locals and visitors another reason to come to the area.

It’s nice to see improvements coming to the area and more reasons for growth and development in our Downtown.  Covid-19 has more people looking at living in smaller communities and I personally believe Traverse City is one of the best places to choose!

Note: The list price for 127 Union Street was dropped $100,000 as of the writing of this article to help spur a quick sale and giving a fantastic opportunity to a new buyer.  Click here for details on the property.

Dan Stiebel, CCIM