Wednesday, September 13, 2017

Ypsilanti: Water Street Development / International Village 120 Day Update.

By Editor & Publisher Jeff Brown.

As stated in a September 12, 2017 press release from the City of Ypsilanti, City Council accepted a letter of Intent on May 23, 2017 from International Village LLC, "For due diligence of a development of a mixed use community on the 36 undeveloped acres of Water Street."

According to the press release from the City of Ypsilanti, since May of this year Amy Xue Foster has been working to prepare a development proposal that will be brought before Ypsilanti City Council on September 19, 2017. Foster leads the development team and is a principal and managing partner of International Village.

According to a September 12 press release from the City of Ypsilanti,"The development team will present a purchase agreement to City Council on September 19th.  Should the City Council accept the Purchase Agreement, the development team will be able to establish the Regional Center and start escrow accounts for the EB-5 program.  The acceptance of the purchase agreement would also open up the negotiation period for the creation of a development agreement."

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