News Summary
The University of Michigan is considering purchasing two historic properties for $6.2 million as part of its expansion efforts. The notable properties include Harris Hall, a commercial building on E. Huron Street, and a house on Church Street. Both acquisitions aim to enhance university operations while preserving historical significance. However, the Board of Regents will decide on February 20, 2023, and the outcomes could impact local tax revenue, as the university is a tax-exempt institution. The fate of these properties holds much interest in the Ann Arbor community.
Exciting Developments in Ann Arbor: University of Michigan Eyes Historic Properties!
Hey there, Ann Arbor! Big news is brewing on the campus of the University of Michigan as they consider a move that could reshape parts of our beloved community. The university is planning to acquire two historic properties for a total of $6.2 million. Yes, you read that right—a hefty sum aimed at expansion and preservation!
The Properties at a Glance
So, what exactly are these properties? Well, the first on the list is a charming commercial building located at 617 E. Huron Street, known affectionately as Harris Hall. This place comes with a price tag of $4.1 million and offers an impressive 8,500 square feet of space that will play a crucial role in boosting university operations.
The second property is a cozy house at 403 Church Street, available for a cool $2.1 million. This house measures over 1,350 square feet and sits right across from the Alexander G. Ruthven Building, a hub for university administrative functions. Talk about a prime spot!
Historic Significance
Now, let’s sprinkle in some history! Harris Hall is not just any old building; it is listed on the National Register of Historic Places in Washtenaw County as well as Michigan. Originally intended as a student center and parish hall in 1883 by Bishop Samuel Harris and St. Andrew’s Episcopal Parish, the building opened its doors in 1887 and became a venue for lectures, concerts, and community entertainment.
Fast forward to 1943, when a twist of fate saw it converted for the United Service Organizations to assist servicemen training at the university. The U-M had it on lease by 1946, and it became a home for music bands for years! The building later underwent transformation in 1980 when Buckheim and Rowland purchased it and turned it into office space.
A Bright Future?
As exciting as this is, the fate of these purchases lays in the hands of the university’s Board of Regents. They’ll hold a meeting on February 20, 2023, to vote on the acquisitions, so keep your fingers crossed! If all goes according to plan, the Harris Hall purchase could close as soon as May 1, 2023. However, there’s an existing lease that will last until May 31, 2023, meaning there could be a bit of a waiting game!
The Church Street house isn’t far behind with a tentative closing date set for February 21, 2023. For now, the university plans to keep it leased to maintain its current functionality while exploring future developments in the area.
Tax Impact and Community Considerations
The financial landscape surrounding these properties adds another layer of interest. The current owners of 617 E. Huron St. paid nearly $78,000 in property taxes last year, while the 403 Church St. owners contributed over $13,600. As a tax-exempt institution, the University of Michigan won’t be contributing to property taxes after the acquisition. This shift will undoubtedly affect the local tax revenue picture.
Join the Conversation
Curious about how this all plays out? You can catch the important Board of Regents meeting live, starting at 3:30 p.m. on February 20. It’s all happening at University Hall inside the Ruthven Building, located at 1109 Geddes Ave. in Ann Arbor. Don’t forget you can also watch it online at umich.edu/watch.
So, what do you think, Ann Arbor? Are these property acquisitions a step in the right direction for the University of Michigan? Only time will tell, but there’s no doubt this talks has sparked quite the buzz around town!
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