There have been plans. There have been bids. There has been money spent. I'm talking about area at Front and Pine, a large area of protentional development. The article on 9 and 10 News discusses the recent happenings in city government about the lots. Just so we're all on the same page:

There are competing ideas, with parking and housing being discussed. The city has paid $7.6 million for the land and, in an appreciated flash of insight, realized that the current plans won't pay back the amount they paid for the land and demolition costs. The parking ramp concept is much more expensive than a simple parking lot, and the housing - especially "affordable" housing - isn't going to earn the city's money back either. Thus, back to the drawing board. I was also impressed that the city council blamed themselves for the confusion - honesty is a rare commodity in politics today.
The west side of the space recently cleared for parking and/or apartments, the previous site of Master Cleaners:

And the northeast part of the lot clearing extravaganza:

My favorite part of the article is that the mayor of Traverse City mentions an episode of "The Simpsons" to make her point:
“They bring everybody in the neighborhood into designing a new car, and it is a flop,” she said. “It’s got fins, it’s huge, it has 18 cup holders, and it can barely drive.”
Anyways, well done TC council. Best to stop the train before it runs off the rails with the taxpayer's money.