Plans for 425 E Washington Street - More Ann Arbor Student Housing?
The Concannon Company of Ann Arbor Plans Mixed-Use Student Housing
The historic Ann Arbor Professional building, located on E Washington street may soon become home to a large mixed-use student housing project. Michael Concannon will formally submit redevelopment plans to the City of Ann Arbor in the Spring of 2008. Concannon has high hopes for the location which is adjacent to the new 4Eleven Lofts project and the McKinley Towne Center.
The eighteen-story towers will be a mix of rental units and residential condos for sale ranging from 2-4 bedrooms and entirely targeted at students. The buildings will also house retail and commercial office space. Concannon’s plans face some controversy from other local fixtures such as The McKinley Towne Center’s CEO. Many are worried that supply will outweigh demand as student housing options become saturated in this area. Concannon is confident in the location and product mix and has little worry of success.
The location is already zoned for high-density residential and complementary commercial development so it is unlikely Concannon would need any special zoning or city variances. The question on everyone’s minds is - if we build it will U of M parents be able to afford increasing student housing costs?
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