T
he University of Michigan (U-M) recently purchased three student rental buildings on E. Hoover for $2.9 million, bringing the university's ownership to nearly the entire south side of the 100 block except one auto repair shop and a single rental property. The purchase includes properties at 116, 144, and 146 E. Hoover, which back up to the Michigan Stadium complex.
The university had initially planned to buy all four properties, including the car shop at 142, for $5.7 million, but it's unclear why this didn't happen. MLive notes that U-M's Campus 2050 plan envisions a fan zone adjacent to the stadium with a lawn for watching TV broadcasts of games, which could be a possible reason for acquiring the properties.
