The University of Michigan Board of Regents is eyeing three downtown Ann Arbor properties for future development.
University of Michigan Executive Vice President and Chief Financial Officer Geoffrey Chatas has presented the Board of Regents with a $6.3 million property purchase proposal. The three private properties totaling over 5,000 square feet are located across from the Alexander G. Ruthven Building at 415 Church Street, 1206, and 1210 Washtenaw Court.
Chatas says the purchases would allow the university to have more development options around historically significant campus architecture.
The closing date for the Church Street property is expected to be no later than July 4th, while the closing dates for the Washtenaw Court properties are still being discussed.
UPDATE: The Board of Regents has approved the purchase of all three properties.
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