University of Michigan regents have authorized the sale of a residential property at 1019 Ferdon in Ann Arbor for $530,000. The action took place at the board’s Sept. 20, 2012 meeting.
According to a staff memo, the 2,200-square-foot house was built in 1930 by Hartwig H. Herbst, and later bequeathed to the university. Since 1973, it has been used as temporary housing for deans, administrators, and faculty relocating to Ann Arbor. It had been listed for sale at $529,000. A tentative closing date is scheduled for Oct. 4.
A friendly amendment by regent Andrea Fischer Newman directed the funds to support the university endowment, rather than the general fund.
This brief was filed from the Michigan Union’s Anderson Room on the Ann Arbor campus, where regents held their September meeting.