Stewart Beal is making more moves to become a key player in downtown Ypsilanti development. The young entrepreneur has purchased and rehabbed four apartment buildings near the Eastern Michigan University campus and downtown Ypsilanti.
The twenty-something developer and president of Beal Properties has been made a name for himself in recent years turning old buildings in Ypsilanti's downtown and Depot Town into lofts and retail space. His latest acquisitions do nothing but bolster his reputation.
Beal recently acquired 409 S. Huron, 417 Pearl, 204 S. Hamilton and 715 Pearl. All four buildings, which housed up to four rental units each, were vacant foreclosures. On top of that they had not been properly winterized, leaving the utility systems heavily damaged.
His team has since renovated all of the units and rented them out. He plans to hold onto them for the long-term and keep them as rentals.
Beal is also the developer behind the Thompson Block project in Depot Town, which is turning an abandoned Civil War-era building into lofts and retail space, and the 200 W Michigan Lofts development, an old Victorian-era storefront in downtown that is now lofts and restaurant space.
Source: Stewart Beal, president of Beal Properties
Writer: Jon Zemke
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