Ann Arbor Area Business Monthly - "New Kingsley Lane Loft-Home Development Opens Near Downtown"
Wednesday, June 07, 2006
If escalating fuel costs and explosive growth in traffic congestion have you contemplating trading your car tires for tennis shoes, Ann Arbor Developer Peter Allen has you in his sights. In fact, Allen will pay for the tennis shoes, and throw in a new bike too.
Allen, president of Peter Allen & Associates, an Ann Arbor real estate development firm, thinks people are increasingly opting to hit the streets with their feet instead of putting the pedal to the metal on the now not-so-open roads. In fact, as the developer of Kingsley Lane, a new Ann Arbor loft-home project, where on-site parking is optional, he's banking on it.
Roughly 57,500 people commute to Ann Arbor each day, according to Washtenaw Area Transportation Study (WATS). "Commuting time wasted in the car is a growing local problem,' said Allen. Indeed, projections call for commute times to lengthen. "The built environment can enable that scenario or can help to change it by providing residences, like Kingsley Lane, that encourage people to be less reliant on their cars and to walk to work, the grocer, resturants and entertainment venues, and to conduct their personal business," said Allen. "We think it's smart development, and we believe area homebuyers will respond to it."
Located at the corner of Kingsley Lane and Ashley Street, Kingsley Lane will offer 12 diverse loft plans ranging from 425 square feet to 1,400 square feet in both one-and two-level floor plans.
The development's location at the north edge of downtown Ann Arbor with close proximity to shopping, dining, and cultural activities-makes it easy to leave the car parked for days. I encourage folks to do just that. Allen and his partners are giving each Kingsley Lane homebuyer a free pair of walking shoes along with a new bicycle. And, to stow their car while they walk, buyers will have options. Explained Mark Berg, development Partner, "One of the things we learned from our focus groups and early pre-sales, was that younger buyers often prefer the lower prices available by making expensive underground parking an option." All buyers will receive a complimentary two-year lease at the nearby Ann Ashley parking deck-just 70 steps away. For those who need their car even closer at hand, on-site parking is available as an option.
"Few cities of any size offer such an eclectic and accessible array of shopping, dining and entertainment experiences as Ann Arbor," said Allen. "It's very easy to abandon your car and explore the richness of the city on foot or by bike."
Christopher Weinberger, professor of practice and director of the Graduate Real Estate Program at the University of Michigan, and himself an advocate of walk-able living spaces, believes Allen has the right idea. According to Weinberger, nearly one-third of U.S. households desire what he refers to as "walk-able urbanity--a place to live and/or play in a walk-able environment." Yet the national housing market strongly lacks this type of housing with less than five percent supply currently available.
The Kingsley Lane development further encourages walk-able living by offering live-work space combinations. With the ground floors of both its buildings zoned for office or retail space, it is possible for a gallery or cafe owner, retailer or professional service provider to live just up the stairs from their workplace.
Allen's passion for walkable living environments, like the one he and partner Mark Berg have created at Kingsley Lane, is matched only by his passion for Ann Arbor itself. The Kingsley Lane development and sales team is comprised of six local residents who have lived in the Ann Arbor area for a combined total of 150 years. In addition to Allen, it includes Mark Berg, the property owner; Marc Reuters, the architect; Fred Beal, the contractor, Tracy Wick handling marketing; and Lisa Stelter, of the Charles Reinhart Co. Realtors, who is handling sales of the project.
Their love for the city and its unique qualities is evident in every aspect of the project. They believe strongly that what is good for the earth and for one's health is good for all. To that end, the Kingsley Lane design team has incorporated "green" finishes and appliances such as low-VOC paints, formaldehyde-free cabinetry, Engergy Star appliances, as well as renewable material options like cork, sea-grass and bamboo flooring, which offer Kingsley Lane homeowners both relibale health benifits and lowered cost of ownership.
<< Home