Apartment firms bet big on Michigan student housing.PRIVATE DEVELOPERS are scrambling to build apartments for thousands of University of Michigan (body, education) University of Michigan - A large cosmopolitan university in the Midwest USA. Over 50000 students are enrolled at the University of Michigan's three campuses. The students come from 50 states and over 100 foreign countries. students. Apartment developers say the college student housing market in a city like Ann Arbor Ann Arbor, city (1990 pop. 109,592), seat of Washtenaw co., S Mich., on the Huron River; inc. 1851. It is a research and educational center, with a large number of government and industrial research and development firms, many in high-technology fields such as is pretty much recession-proof. The private projects are coming at a time when the university is erecting its first new residence hall in 40 years amid calls for more on-campus housing. North Quadrangle quadrangle Rectangular open space completely or partially enclosed by buildings of an academic or civic character. The grounds of a quadrangle are often grassy or landscaped. will have accommodations for 460 students, in addition to classrooms and other spaces. That will not be enough to satisfy demand. Consequently, Ann Arbor officials are pushing for greater residential density downtown. To this end, they recently adjusted zoning in some areas to allow for miler mil·er n. Sports One that competes in races one mile long. miler Noun an athlete, horse, etc., that specializes in races of one mile Noun 1. buildings. Developers say they are simply responding to a pent-up demand among students for modern apartment amenities. Many of these new units will come furnished, with fitness facilities and study rooms among the most common amenities. Leases run by the bed, so students will not have to worry about covering the rent of a roommate who skips out. Source: "Builders Make a Bet," Ann Arbor News The Ann Arbor News is a newspaper serving Washtenaw and Livingston counties. Published in Ann Arbor, Michigan, under various names since 1835, The News is part of Booth Newspapers, owned by Advance Publications Inc. , Jan. 13, 2008, by Dave Gershman |
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