UM’s Wall Street Parking Project on “Pause”
Amid a slew of multimillion-dollar projects that Tim Slottow presented to the University of Michigan regents on Thursday, one was notable for not moving forward – a controversial parking structure and office building previously proposed for Wall Street.
Slottow, UM’s chief financial officer, told regents at their monthly meeting that the university’s purchase of the former Pfizer property – a deal that closed on Tuesday – resulted in enough additional parking spaces to meet their current demands for the medical campus. Regents had given initial approval for the $48.6 million parking project at their September 2008 meeting, despite vocal protests from residents in the Wall Street neighborhood. It would have been a structure with 500 parking spaces and offices for UM’s Business Engagement Center, which now leases space at 1214 S. University Ave. Slottow characterized the project as being on a “pause” indefinitely. [Full Story]








