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Tower Plaza-PreMark Talks Still ' Going Back And Forth '

Tower Plaza-PreMark Talks Still ' Going Back And Forth ' image
Parent Issue
Day
8
Month
April
Year
1987
Copyright
Copyright Protected
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Donated by the Ann Arbor News. © The Ann Arbor News.
OCR Text

Tower Plaza-PreMark talks still 'going back and forth'

Negotiations continue between the owners of the Tower Plaza apartment building and PreMark Associates Inc., which is trying to salvage its scheme to convert the building into condominiums.

PreMark missed an April 1 deadline for closing on the deal, worth at least $12.5 million and perhaps as much as $15 million to the building’s owners, The William Street Co.

“We’re still in the middle of it,” said PreMark executive vice president Jay Fisher. “We are going back and forth.”

Susan England, who manages Tower Plaza, located at 555 E. William St., told The News she expects the situation to be resolved “one way or the other” by the end of today.

Even if the deal with PreMark falls through, the William Street Co. could pursue plans to convert the Tower Plaza apartments into condominiums, either on its own or through another developer, since the necessary changes to the deed have been made.