Annual Open House

On June 9, 2002, The Ann Arbor Student Building Industry Program held their Annual Open House, presenting the 32nd student built home to the public.

There has always been an enormous amount of interest in the homes built by the students, and this year was no different. As has been the custom in past years, the home had not been available for purchase, or even allowed to be shown, until the Open House.

With an asking price of $339,900 traffic at the Open House was busy. In addition to visits by student builders with their families, and Members of the Board of Directors, by mid-day the Open House also produced two offers over asking price!

As one of the founding members, the Ann Arbor Student Building Program has always been an important project of the PMC. Current Chairman of the Board, Lloyd Zill was the first Association Member to serve on its Board when it began.

The upcoming 2002 - 2003 School year will feature the 33rd house. The coming years hold challenges for the Board as this will be the final house to be built in the Fox Fire Estates Subdivision. The Board is currently holding planning sessions relating to the future of the Program. Various properties are under review for purchase or development as we search for our next building sites.

Open House Attendees - L. to R. - Joel Davenport, Assistant Instructor; Earl Shaffer, founding board member; Diane Calmeyn, PMC; Dave Peters, The Peters Architectural Group; Christine Finkbeiner, Marketing Coordinator and Dave Schmoekel, Instructor

The Build Fund Holds Groundbreaking

PMC Executive Associate Diane Calmeyn represented the Association at the recent groundbreaking for the Huron Village Shopping Center, a new 127,000 square-foot retail development in Ann Arbor, Michigan.

The project is being funded, in part by The BUILD Fund, a commingled real estate fund that provides competitive returns investing in institutional quality rehabilitation and to-be-built commercial projects that are constructed using 100 percent union labor and are located in areas served by participating investors. The UA Local 190 - Plumbers / Pipefitters / Service Technicians / Gas Distribution Fringe Benefit Funds, joint funds of Greater Michigan PMC and UA Local 190 for the benefits of the Local 190 membership are participants in The Build Fund.

The shopping center is a project of William J. Conlin and Gordon Mathews of the Washtenaw Avenue Bookstore, L.L.C., located in Ann Arbor. Equity financing was provided by The BUILD Fund, of Bloomfield Hills. The $26 million shopping center is expected to be completed by November 1, 2002, with shops opening by December 1.

When completed, the Huron Village Shopping Center will boast seven new retail tenants ranging in size from 2,800 to 51,000 square feet. They will include a Walgreen's drugstore, a new Barnes and Noble bookstore, which will replace a smaller, nearby Barnes and Noble, as well as a Whole Foods market, Panera Bread Restaurant, Adray Camera, Games Sports and an AT&T sales office.

Ann Arbor Developers William Conlin and Gordon Mathews, who have teamed on this project, provide a full range of commercial real estate services including development, leasing and management of commercial properties.

The Build Fund is an excellent opportunity for funds like ours to invest back into our local communities, and insure works for our employees.