UM to Buy Land at 417 S. Division
At their July 21, 2011 meeting, the University of Michigan board of regents approved the $698,364 purchase of an 0.09-acre of land at 417 S. Division, next to the UM Institute for Social Research. A tentative closing date is set for Aug. 3 – existing leases in the 3,152-square-foot apartment building located on that lot expire in August, according to a staff memo.
A $23 million expansion of ISR’s building on Thompson Street had been approved by the board in April – they signed off on the project’s schematic design in July. At their November 2010 meeting, regents approved two other land purchases on South Division related to the ISR project: $919,425 for 439 S. Division St., which included a 3,210-square-foot apartment … [Full Story]