lo res - The Village at Grand Traverse Commons

V enture
INTO AN EXCEPTIONAL INVESTMENT OPPORTUNITY
The Village at Grand Traverse Commons
T R A V E R S E C I T Y . M I C H I G A N

U nparalleled Opportunity
Photographs are conceptualizations.
E xtraordinary location
The Village at Grand Traverse
Commons is one of the largest
historic preservation and mixeduse
redevelopment projects in
the nation. It is comprised of
a magnificent collection of
century-old buildings located
on a pastoral, sixty-two acre
campus, one mile from Grand
Traverse Bay and downtown
Traverse City.
With over one-million square
feet of development capacity,
The Village is now home to
fifty-seven businesses and sixty
residential suites. This vibrant
cosmopolitan community and
diverse marketplace has become
a sought-after destination to the
hundreds of people who embrace
our historic legacies and seek to
enhance our quality of life.
We invite to explore The Village,
the remarkable spaces available
to you, and the opportunity to
become an integral part of this
historic achievement.

The Village at Grand Traverse Commons
This premier location, in the building
known as The Chapel, is now primed
for a restaurant transformation.
EXCEPTIONAL TAX ADVANTAGES
Seventy-five percent of the project
site, including the Chapel, is located
within a Michigan Renaissance Zone,
granting virtually state tax-free status
to businesses located in the zone.
In addition, businesses may also
qualify for historic tax credits,
which reward private investment
F
in historic rehabilitation.
T JUST IMAGINE...
rom vision to reality
he Chapel
A restaurant infused with the
charismatic charm of The Village’s
dynamic urban lifestyle…where
there is a genuine atmosphere
of hospitality that emanates from
its rich historic character. It is a
place that invites people to meet,
linger and enjoy an irresistible
culinary experience.

C H A N G I N G T H E F A C E O F
C O M M E R C I A L D E V E L O P M E N T
Our success is measured by your success.
We are completely committed to this project,
and deem it our responsibility to co-partner in
the cultivation of professional relationships
that are essential to the immediate and
long-term success of your business.
CHAPEL
FIRST FLOOR RESTAURANT LEVEL . 5100 S. F.
The initial stages of build-out offer greater flexibility to adapt to a myriad of
mechanical requirements and the important components of restaurant design.
The Minervini Group, its talented designers, and construction arm, MAM
Contracting, Inc., stand ready to assist you throughout the entire process…
F rom concept to completion

The Chapel
F E A T U R E S
Centrally located and destined to
become the hub of Village activity.
High visibility, ample parking,
extraordinary build-out potential.
Magnificent historic features
throughout.
T H R E E L E V E L S:
First Floor
Total square feet: 5100
Proposed restaurant space;
Capacity determined by
design & build-out
Second Floor
Total square feet: 5100
Proposed Use:
Village Center for Visual
and Performing Arts
Potential Dinner Theatre
(serviced by restaurant)
Original stained
glass windows
Beautiful domed ceiling
with historic arches
Attic Level
Total square feet: 2200
Proposed Use:
Residential or Commercial
Condominiums with Lofts
L I S T E D O N T H E N A T I O N A L R E G I S T E R O F H I S T O R I C P L A C E S

C ompelling tax incentives
The Village at Grand Traverse Commons is the only
designated Renaissance Zone in Northern lower Michigan.
� Renaissance Zones were created by the State of Michigan under Public Act 376
of 1996 in order to stimulate economic growth in certain urban
communities.
� Renaissance Zones are virtually free of all state and local taxes for businesses
located within their boundaries.
PROPERTY TAXES
� Local Real Property Taxes: General property taxes on land and buildings are
nearly 100% abated
� Local Personal Property Taxes: These general property taxes are nearly 100%
abated for the business’ personal property that is located in the Renaissance
Zone.
� School Property Taxes Abated: Personal property taxes for schools are 100%
eliminated in the zone. Recent property tax reforms have exempted industrial
personal property (inside and outside of a zone) from the 6-mill State Education
Tax (SET) and 18 mills for local schools. Under the same reform, all Michigan
commercial personal property is automatically exempt from 12 mills of the local
school millage.
� State and Local Taxes: Michigan Business Tax - A tax credit is allowed against
the Michigan Business Tax (MBT) for business activity attributable to the Renaissance
Zone.
TAX INCENTIVES AND REDEVELOPMENT PROGRAMS
� The scope of economic development policy has expanded significantly, and a
myriad of Federal and State economic development programs exist in the State
of Michigan. Numerous incremental changes in eligibility that favor specific industries,
companies, or municipalities have expanded in recent months as well.
Examples are the amendments to the Renaissance Zone, Industrial Facilities
Tax Abatement, Michigan Economic Growth Authority, and Downtown Development
Authority legislations.
� The repeal and replacement of the Single Business Tax (SBT) also impacts six
programs that are predicated, in whole or in part, on SBT credits: Brownfield
Tax Credits, Historic Preservation Tax Credits, Michigan Economic Growth Authority
Tax Credits, Michigan Next Energy Authority Tax Credits, Renaissance
Zone Tax Credits, and School-to-Registered Apprenticeship Tax Credits.

S
tatistics
From 1990 to 2000, population growth in the 13-
county Grand Traverse region increased 22%,
compared to a 7% increase in Michigan.
Earnings of persons employed in the Trav-
erse City area increased (in thousands)
from $2,191,360 in 1990, to $4,266,641 in the
year 2000.
The city’s average annual growth of per cap-
ita personal income over the past ten years
was 4.4 percent. The national annual growth
rate was 4.2 percent.
Munson Medical Center, the largest hospital
in Northern Michigan, is located on the Com-
mons 'campus' immediately adjacent to The
Village. It is the city's largest employer with
4,000 employees.
Northern Michigan College, located in Traverse
City, enrolls more than 4,000 students in ac-
credited programs; 8,000 in non-credit pro-
grams; and partners with 11 Michigan colleges
and universities.
The Traverse City area attracts over 3 million
visitors to the region annually, and employs
more than 11,000 area residents in the service
industry..
National retail and resort chains are capitalizing
on the region's increased buying power and
market demands. Expansions and new develop-
ment added more than 800,000 square feet to
suburban retail centers, and another 40,000
square feet in resort attractions.
The positive economic indicators that attract
residential and commercial investment.
Michigan Tourism spending was estimated at
$11 billion for 2000. The 13 county region of
Northern Lower Michigan captured 20% of the
State’s total.
Michigan has over 36,000 miles of rivers and
streams, and over 11,037 inland lakes. No
point in Michigan is over 6 miles from a river,
lake or stream, or 85 miles from one of the four
surrounding Great Lakes.
Michigan ranks #1 with more registered water-
craft per capita than any other state, including
Florida, and ranks second with the largest num-
ber of public golf courses.
Tourism spending in the greater Traverse
City market pumps over $530 million into the
region’s economy each year, compared to
$167 million from agriculture.
The Grand Traverse region is one of four Direct
Market areas in the State that accounts for 80%
of travel to Michigan.
86% of visitors to this area are from Michigan,
its five surrounding states, and Canada.
The per person per day expenditure of all visi-
tors to the Traverse City area for transportation,
meals, entertainment, lodging and shopping
was $106 in 1998, compared to $101 in the City
of Chicago for the same year.
SOURCES: Traverse City Area Chamber of Commerce
Traverse City Visitors and Convention Bureau
US Department of Labor, Bureau of Labor Statistics
MSU Resource Center, Michigan Travel Indicators
Traverse City Newcomers . Census 2000
Record Eagle . Michigan Historic Preservation Network
Site Selection Magazine

H
ISTORIC TRANSFORMATIONS
THE RESIDENTIAL COMPONENT
Of the sixty residential units that comprise the entire South Wing and Cottage 20, fifty eight
units are sold and occupied. Ranging in size from an efficient 250 square feet to an expansive
3,800 s.f. loft, the residential component promotes a sense of community and social interaction
among people of all ages and socio/economic backgrounds, while reinforcing the diverse mix
of on-site commercial and retail amenities available to them.

L OCATION
Adaptive reuse is the creation,
integration and embellishment of
an extraordinary way of life. It is
defined by change, yet its principals
are rooted in a multigenerational
desire to preserve and fully utilize
our historic assets.
Historic districts and landmarks have
become regionally and nationally
recognized as sought-after properties,
and achieve highly stabile and
profitable investment values.
In a span of only six short years, The
Minervini Group has fully preserved,
renovated, sold, and leased over
225,000 square feet, with many more
projects in the planning stages.
In this spirit of commitment, the next
six years is certain to be an amazing
journey.
The Traverse City area, on the shores of West Grand
Traverse Bay, is one of the fastest growing regions in the
state. New residents, businesses, retail centers, industrial
parks, and tourism have created a vital and thriving marketplace
in one of the most attractive locations in the Midwest.
The March 2003 issue of Site Selection Magazine listed
Traverse City as the Number One Small Town in America,
beating out strong competition from over 100 small towns
across the country in the race for new and expanded
commercial, medical, high-tech, and industrial facilities.
The Village is surrounded by over 450 acres of preserved
“Central Park” parkland, and ideally located adjacent to
Munson Hospital, the largest employer in the region.
Its highly desirable location, the quality and quantity
of Village amenities, and the concentration of residents,
professionals, and the millions of annual visitors to the
region, create a solid customer base. These are essential
components to commercial investment considerations,
and key to long-term success.
T R A V E R S E C I T Y . M I C H I G A N

R e-making History
This historic site is one of three Thomas Story Kirkbride mental
health facilities built in Michigan at the turn of the century which
implemented the new-wave treatment philosophy of “beauty is therapy.” At the height
of operation, over five thousand patients, physicians, nurses, and staff worked and
lived in an environment of beauty and self-sustainability. The facility served as a
state asylum from 1886 until its closure in 1989.
The central hospital complex spans one-quarter mile in length and is comprised
of over 380,000 square feet of magnificent solid brick construction. Additional
structures were added as the facility expanded to include spacious “cottages”
for patients and staff housing, a bakery, furniture making, laundry, greenhouses,
food processing, cold storage, and carpentry shops, pastures for a world-renowned
dairy herd, cropland, barns, and a massive power plant. Rare species of trees,
expansive manicured lawns and gardens further enhanced the site’s tranquility.
The development and gradual success of drug therapy, mental health care philosophies,
the decline in institutionalization, and subsequent lack of funding, forced the
Traverse City facility, and many others across the country, to close its doors.
Between 1989 and 2000, the neglected site fell prey to the elements. Its exceptional
design theories, which utilized maximum air circulation, essentially averted more
serious deterioration, yet demolition of the entire facility seemed inescapable.
For the next two years, however, the entire community rallied to save its historic
legacy, and a search for a developer was underway. Ray Minervini, historic renovator,
builder, and visionary, was soon destined to embarked on a path less traveled. Utilizing
the guiding principles of new urbanism and smart growth, he and The Minervini Group
spearheaded plans to create a vibrant, mixed-use community. After months of due
diligence, the Master Plan was overwhelmingly approved by the Grand Traverse
Commons Redevelopment Commission, and transfer of ownership was awarded
The Minervini Group in May 2002. The rest of the story is history-making.
Historic preservation and mixed-use redevelopment has proven to be one of the
most effective responses to sustainable long-term economic growth in cities across
the country. Its more intangible effects are incalculable: The Village at Grand Traverse
Commons represents the region’s stability and pride, and the universal desire to
increase connectivity, activity, and social interaction. It stands testament to the
entrepreneurial spirit, and the creative commitment to place-making for today,
and for generations to come.

An Impressive Array of Village Merchants and Businesses
Trattoria Stella Restaurant
Gallery Fifty
Premier Floral Design
Jeanette Veeder Designs
Tastes of Black Star Farms
Silvertree Deli
Posh Pet Boutique
Sweet Asylum
Boutique a la Vie
Fixed Gear Gallery
Green Canopy
Fashion Collective
Cuppa Joe
Left Foot Charley Urban Winery
Pleasanton Brick Oven Bakery
Underground Cheesecake Company
Higher Grounds Trading Company
Amalgamated Sage
Anthology
Avero Research
Bay Energy Services
Big Water Media
Blue Drive Concierge
CML Marketing Communications
Central Park Therapy
Circle of Blue Media Via
Common Counsel
Cosmetic Skin & Laser Clinic
DES Electric Services
Peg Dunn, CNM
Edible Grand Traverse
T. Eftaxiadis
Global Recruiters
Grobbel Environmental
Harbor Home Health Care
Heron Wind Manufacturing
LindyLazar Marketing
MAM Contracting, Inc.
The Minervini Group, LLC
Marsha Minervini, Realtor
Nealis Engineering
Northern Express Publications
Pavilion Title Agency
Paxton Photography
Petersen Productions
Ramona Pleva, CMT
Rauth Photographic
Salone de Capelli
Select Fine Wine Brokers
Shoreline Distributing
Richard Vida & Partners
Spireworks Events & Promotions
Stand Out Productions
Dan Tholen, MS
Kate Thornhill, CPA
Town & Country Real Estate
Traverse Digital
Traverse Legal, PLC
Vector Computer Technologies
Village Family Medical Practice
Watershed Church
Werthmann Life Coaching
Yoga for Health
© TMG / SW 2009
The Vibrant Village Lifestyle

V
T H E
Make this the day to explore the unlimited potential that awaits you.
Ray Minervini, Principal
C: 231.218.5529 ray@thevillagetc.com
Raymond Minervini II, Partner
C: 231.218.553 raymond@thevillagetc.com
830 Cottageview Drive, Suite 101
Traverse City, Michigan 49684
Office: 231.941.1900 Fax: 231.941.9713
illage Our most important commitment
is both the process and philosophy
of bringing people together...
www.thevillagetc.com
Marsha Minervini, Realtor
Bayshore Properties, Ltd.
830 Cottageview Drive,
Suite 203
Traverse City, Michigan 49684
O: 231.947.1006
C: 231.883.4500
F: 231.941.7637
marsha@marshaminervini.com