Download - JLL Ann Arbor Full Circle Report 2017
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Full circle: Ann ArborAn in-depth look at how residential demand, corporate
growth, and development activity sparked the
resurgence of downtown Ann Arbor
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Downtown Ann Arbor
More than a college townHome to the University of Michigan, Ann Arbor has always had a strong presence and reputation in
the southeast Michigan community. With the continued influx of tech companies, startups, and
venture capital, the downtown core is undergoing a transformation. Ann Arbor’s residential and
office density is continually increasing, changing the downtown from a college town into an urban
center. As tech companies and startups continue to locate here to recruit talent from the university,
developments to house them will continue, as will demand for retail, entertainment and other
commercial amenities. Ann Arbor is well positioned for the future given its growing business
community, the presence of the University of Michigan, and its proximity to metropolitan Detroit.
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Downtown Ann Arbor by the numbers
60%Percent Millennials
25,800Total employment
13 Office tenants
2016 Business attraction and retention
39# of investment projects (2012-planned)
$587.5MTotal investment
97%Private investment
1.3Square miles
17,100Residential population
18%Population growth since 2000
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People
200,000
260,000
320,000
380,000
12,000
14,000
16,000
18,000
2000 2010 2017
Population growthDowntown Ann Arbor has seen steady
population growth in recent decades, however,
that growth has accelerated recently thanks to
new multifamily development.
322.9K
344.7K
361.2K
14.4K14.9K
17.1K
DemographicsMillennials make up over half of the
downtown population, most of whom are
students, a significant factor driving
business attraction and retention.
28%
60%
5%5%
Generation Z (0-19)
Millennials (20-36)
Generation X (37-52)
Baby Boomers (53-71)
The Silent Generation (72+)
Residential developmentDevelopers have added nearly 2,000
residential units downtown since 2000,
with even more in the pipeline.
4,000
6,000
8,000
2000 2010 2017
5.4K
5.8K
7.2K
Downtown Ann Arbor
Downtown population Metro population
2017 downtown population by age
Downtown housing units
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Business
Largest employers
Although the University is by far the largest
employer in Downtown Ann Arbor, private
companies from tech to banking are making
their presence felt.
University of Michigan
Washtenaw County
City of Ann Arbor
DTE Energy
Google Ann Arbor
14,710
1,330
850
500
400
Barracuda Networks
Llamasoft
Duo Security
Bank of Ann Arbor
Prime Research
270
200
150
140
110
Business attraction and retention
The University of Michigan is essential to Ann
Arbor’s strategy for attracting and retaining the
companies that are recruiting their talent.
Llamasoft
TD Ameritrade
FICO
Penny W. Stamps School
Duo Security
UM Alumni Association
Carlisle Wortman
Sight Machine
All Hands Active
Lakeside Software
Kohlitz Video Production
Atwell
Lotus Consulting
Retention or expansion Attraction
Employment by industry
Professional and business services
Hospitality, leisure and retail
Government
Construction, manufacturing and transportation
Downtown employment by industry
Information
Education and healthcare
Other
Downtown Ann Arbor has a thriving 21st
century economy with significant employment
in the business and technology industries.
37%
26%
13%
6%
5%
5%8%
Downtown Ann Arbor
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Investment
61%
38%
Investment by project status
Investment activity surged over the last five
years and multiple projects are ready to
break ground in 2017.
Completed (2012-16)
Under construction
Planned
$359.1M
$7.5M
$221.2M
22
1
16
Status Investment
# of
projects
Investment by funding type
The vast majority of downtown investment
has been private multifamily projects, with
a handful of public use developments
making up the public investment.
97%
Private investment dollars
Public investment dollars
$0
$100
$200
$300
$400
$500
Education,infrastructure,
public use
Entertainment,retail
Hotel Office Residential
Investment by property type
Residential development has received by far
the largest share of investment, as other
product types have taken a back seat.
4
projects
26
projects
4
projects
4
projects3
projects
($M)
Downtown Ann Arbor
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1 410 First
Significant projects under construction
1 611 E University
2 Kingsley
3 Kingsley Parkside
4 M Den Office Building
5 Madison on Main
6 Main on the Park
7 Montgomery Houze
8 Moving on Main
9 Residences at 615 Main
10 Running Fit Residential
11 South University Streetscape
12 The Calvin
13 The Collegian North
14 The Glen
15 The Jefferson
16 The Library Lot
Notable proposed projects
1 121 Kingsley West
2 414 Main
3 4th & William Garage Renovation
4 618 South Main
5 ArborBLU
6 Bank of Ann Arbor Expansion
7 Detroit Street Flatiron
8 Library Renovation
9 Foundry Lofts
10 Residence Inn
11 Selo/Shevel Renovation
12 The Graduate
13 515 Fifth
Significant projects completed in 2015-16
Investment map
Completed in 2015-16 Under construction Proposed
Downtown Ann Arbor
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Harrison West
Research Analyst
+1 248-581-3298
www.jll.com/research
www.jll.com/annarbor
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