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Developers hoping to build up downtown with new expansion

Developers hoping to build up downtown with new expansion

As more people flock to the Traverse City area, the need for expansion increases.

Right now, construction crews are busy putting up a new building on Front Street next to the Chase Bank Building.

"Building new buildings is certainly sexy, but our MO has been to find older buildings that are in great locations and have good tenants to build around and renovate those buildings," said Adam Miller, a member of the Miller Snowden Development Group.

REI Construction has been busy expanding the Chase Bank building.

The two will be connected but will appear separate on the outside.

On the inside, the new building will feature some exciting additions.

"There's a local restaurant group that has leased the entire first floor," Miller said. "We've seen a lot of different concepts with that group to do one of maybe even two restaurants in there. But we don't know yet exactly what the name of the restaurant or even what type of restaurant will be there."

Hagerty Insurance is leasing the remaining three floors as part of a long term growth strategy.

"We need to expand our footprint as we continue to hire more employees," said Jonathan Klinger, VP of Public Relations for Hagerty.

Over the last couple of years, Hagerty has hired more than 150 new employees.

As the classic car world continues to thrive, the world's number one collective car insurer says it plans to expand even more.

"Hagerty is continually growing," Klinger said. "We've been expanding globally but e remain committed to be headquartered right here in downtown Traverse City.

Like the company, downtown Traverse City is also expanding.

"We like the fact that downtown is becoming more vibrant," said Jon Laureto of REI Construction. "More jobs to the area coming in. We'd like to see more young professional people not move away after they graduate our schools."

Developers says they're excited for an addition like this to drive even more traffic to nearby businesses.

"The greater the density the greater that is for all those retailers," Miller said.

Construction on the new building should be complete in the fall.

Tenants are expected to move in by January of next year.

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