Ann Arbor Times

The University of Michigan has entered into an agreement with Related Companies and Olympia Development of Michigan to lease a residential building near the U-M Center for Innovation (UMCI) in Detroit. This decision could provide additional housing options for the university's faculty, staff, and students.

Geoff Chatas, executive vice president and chief financial officer, stated, "The University of Michigan has entered into a letter of intent with Related and Olympia to lease the entirety of the planned residential building next to the U-M Center for Innovation in Detroit on a long-term basis." He added that this agreement is subject to approval by the U-M Board of Regents.

The university anticipates needing these residential units for UMCI. The construction of this residential building is scheduled to begin this year. It will be developed alongside an incubator space by Related and Olympia on the same block where UMCI is being built at Columbia Street and Cass Avenue.

Construction of the 200,000-gross-square-foot, six-story UMCI building commenced in December 2023, with completion expected in 2027. Progress can be followed through the university’s live webcam.

UMCI aims to become a leading center for research, education, and entrepreneurship. It seeks to promote innovation and community development focused on talent growth, which will drive job creation and economic growth in Detroit and beyond.

Programming at UMCI will adopt a mixed-model approach featuring master's degrees alongside workforce development programs centered on technology and innovation.