353 S. Main is located on the northeast corner of Main and William in Ann Arbor. The site is an important gateway moment for the downtown district. The site is 7,000 SF and is currently a surface parking lot managed by the DDA as a paid parking lot. The lot contains 24 parking space. Additional public parking is provided on-street and in the 4th and Washington Structure immediately adjacent to the site. The site is seasonally used for public events.Key adjacent uses include the Main St and Liberty St businesses and the William St bike lane. As of September 2020, demolition started on the DTE Edison building immediately south of the site. The proposed development for that site includes a 10-story mixed use building.
The site is currently zoned D1, Downtown Core District. D1 zoning allows for a maximum of 180 feet and a Floor Area Ratio (FAR) of 900% with affordable housing premiums. Due to the size of the parcel, the maximum FAR is reached before the development gets anywhere near 180 feet. The development is subject to secondary street frontage requirements and Main Street Character Overlay District. All concepts include an active ground floor and off-site parking strategy. From a financial perspective, the site would be eligible for a Lower Income Housing Tax Credit (LIHTC) development.
The city is subsequently working on a downtown parking analysis and downtown housing market study. The results of those studies will be integrated with community feedback in December 2020 report out.