University of Michigan Proposes Major Property Acquisitions

News Summary

The University of Michigan is set to propose a $6.2 million acquisition of two properties, including Harris Hall and a house on Church Street. The Board of Regents will vote on this significant move on February 20, which could reshape Ann Arbor’s campus and community. Harris Hall, a historic building, and a residential property are both considered crucial to enhancing university life and community relations. Tax implications and future plans for both properties underline the importance of this acquisition.

Exciting Developments in Ann Arbor: University of Michigan Weighs New Property Acquisitions

Hey, Ann Arbor! Some buzz is in the air as the University of Michigan gears up to make a significant move in the local real estate market. The Board of Regents is set to meet on February 20 to vote on a whopping $6.2 million acquisition of two properties, with the potential to change the landscape of campus and community life.

What’s on the Table?

The two properties in question include a well-known commercial building called Harris Hall located at 617 E. Huron Street, and a charming house at 403 Church Street. If all goes according to plan, the University will fork over $4.1 million for Harris Hall, which spans an impressive 8,500 square feet. The historical significance of this building can’t be overlooked; it’s listed on the National Register of Historic Places for both Washtenaw County and Michigan.

A Historical Treasure

Let’s dive into the intriguing backstory of Harris Hall. Initially envisioned back in 1883 by Bishop Samuel Harris and the St. Andrew’s Episcopal Parish, it finally came to life in 1887. Over the years, it has worn many hats, serving as a venue for lectures, concerts, and community gatherings. In 1943, it even changed gears and took on a military role during World War II!

Fast forward to 1946, and the University of Michigan became the new tenant, using Harris Hall as the headquarters for band activities for years on end. How cool is that?

What About the House?

Meanwhile, the less flashy but equally significant property at 403 Church Street is also on the University’s shopping list, priced at $2.1 million. This cozy residence, measuring more than 1,350 square feet, sits right across from the Alexander G. Ruthven Building, making it a prime spot for Faculty or staff.

The University plans to keep leasing this adorable house for the short term, ensuring continuity for whoever currently calls it home.

Tax Implications and Financials

Now, if you’re wondering about taxes, here’s the scoop: last year, the owners of Harris Hall paid around $78,000 in property taxes, while the owners of the Church Street house dished out over $13,600. As a tax-exempt institution, the University of Michigan won’t have to worry about those bills, which frees up funds for their educational mission.

Mark Your Calendars!

For those eager to keep an eye on this hot topic, the Board of Regents meeting is set for 3:30 p.m. inside University Hall at the Ruthven Building, located at 1109 Geddes Ave. in Ann Arbor. Not able to make it in person? No worries! You can catch all the action via a livestream available at umich.edu/watch.

Looking Forward

So, what does all of this mean for the future? If the acquisition goes through, it could potentially enhance campus life and enrich the Ann Arbor community. The University of Michigan is always striving to improve its facilities and offer more for its students, faculty, and local residents. Keep your fingers crossed as we await the decision from the Regents!

Stay tuned, Ann Arbor! This is shaping up to be a fascinating chapter in the local story.

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