Proposed hotel - apartment - retail - transit complex at William Street at Fifth Avenue on the location of the Old YMCA building.

After the City purchased the Old Y site in 2003 in order to guarantee preservation of affordable housing on the site, developer HDC was selected in summer 2005.

The $77m project was to include an indoor transit station for AATA, several small retail establishments facing onto William Street, three levels of office space, 100 efficiency and one-bedroom apartments dedicated to very-low income residents, space devoted to supportive services for the affordable housing, and between 60 and 90 more housing units; depending on the financing HDC was awarded by MSHDA, the additional housing would either be market-rate condominiums or a mixture of market-rate and affordable apartments. HDC hoped to be finished with the redevelopment by the end of 2008.

In November 2007, after HDC had missed several deadlines related to the project, and received several extensions from City Council, the City pulled the plug. In late 2009, the developer filed suit, alleging breach of contract and similar charges against the City, and seeking $15m in damages.

On March 30, 2012, the United States Court of Appeals, Sixth Circuit found for the City of Ann Arbor in the case HDC vs City of Ann Arbor (10–2078).

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