The University of Michigan recently ended an 8-year capital building campaign, “The Michigan Difference”, raising them a stunning $3.2 billion.  They trumped their goal by $700 million in the four year period – a 28% overage.  The money will support 191 professorships, 1,969 scholarships, new student programs, groundbreaking research and 22 building projects.  U of M campaign success is believed to be the greatest achieved by a public university to date.

The Michigan Difference was founded to support five core university values and activities:

1. Fulfilling the promise of science and technology
2. Enriching the student experience
3. Inspiring a life of arts and culture
4. Advancing health and society’s well-being
5. Preparing leaders for the local and global community

In 2008, the Michigan Difference had a large impact on university life:

• $545 million was made available for student support and endowed scholarships
• Endowed professorships increased by 69%
• New construction and building projects across campus with a sampling including:  the Ross School of Business, Weill Hall, the Biomedical Engineering Building, the Children’s and Women’s hospital, the baseball and softball complex, the Walgreen drama center, and the expansion of the Kelsey museum.

According to President Mary Sue Coleman, “donors’ gifts keep Michigan accessible to scholars from a range of backgrounds, populate our classrooms and labs with outstanding faculty, fund exemplary programs and research and build state-of-the-art facilities.”

The University of Michigan is a solid pillar of our community, we can be proud that they achieved and far exceeded their goals!

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Kathy Toth & Team: Ann Arbor Area Real Estate Experts

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Keller Williams Realty

Ann Arbor student housing will get a leg up this spring as new units such as 4 Eleven Lofts and Zaragon Place come online.  Although some consider these “luxury” options, doing the math may surprise you.  New units at 4 Eleven Lofts offer monthly rents ranging from $750 to $1,450.  According to some students, it can cost about $1,200 a month for room and board in the dorms – often times with locations far from central campus.

The units at 4 Eleven Lofts include upscale finishes and furnishings as well as utilities, cable and internet.  On a per person basis the cost to live there is either comparable or less than room and board in the dorms.  They also provide students with the opportunity to pay management directly per person making it very easy to manage living with a roommate.  Amenities include a 10th floor lounge with pool table and workout center, 24-hour security and an option for underground parking.  The Lofts are located on Washington Street only two blocks from the main campus at U of M.

Zaragon Place offers two, four and six bedroom units ranging from $2,500 to $6,000 per month.  Another option on North campus, The Courtyards, provides one to four bedroom apartments with options from $669 to $1,169 per month.

According to many students, Ann Arbor housing has always been pricey but the quality has never quite met the standard.  Students are excited by the new opportunities coming to market.

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Kathy Toth & Team: Ann Arbor Area Real Estate Experts

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Keller Williams Realty

My daughter is an intern at Tufts and when we looked for an apartment in Boston we had to use many agents and coordinate appointments all over the place – walking everywhere.

In Ann Arbor you need to make one phone call and we can help you find your perfect lease situation or purchase.  The Ann Arbor Real Estate Experts know about your hectic schedules and how important it is to feel that you have suitable housing arranged. We will tour you through your options when you come here to make the most of your time here in Ann Arbor (TreeTown).  Maybe you or your friends want to look together, we will put you in the car and get you into some properties so you can see and feel your options. One address is all you need to search Ann Arbor real estate.

If you are looking at rentals, just use no minimum and maximum $10,000 in the web search provided.  I suggest you start with the area closest to the Hospital  AA NE & North Campus.  Call us 734-669-0337.  We KNOW Ann Arbor and are here to help.  We are experienced in helping  Ann Arbor interns and cannot wait to meet you.

A quick U of M link you may want to browse: http://www.med.umich.edu/hhc_list.htm

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Kathy Toth & Team: Ann Arbor Area Real Estate Experts

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The University of Michigan is by far the largest property owner in the City of Ann Arbor.  With its tax-exempt status, and the recent purchase of the 177 acre Pfizer complex, some are beginning to wonder whether the U contributes enough to the city’s bottom line.

Without the Pfizer complex (a $108 million deal planned to close Summer 2009), the University owns approximately 15% of the property in Ann Arbor.  Although the university is mindful of this affect on city tax coffers, the fact remains there is an affect.  They have made an effort to sell unneeded properties in the last few years to put them back on the tax rolls, these dealings amounted to about a $2 million increase in taxes for local government since 1990.

U of M properties are used for varying reasons and are located all over the city.  Although these properties are tax-exempt, U of M does significantly contribute to the city in other ways:

• They cover 50% of the cost to maintain roads in and around campus
• They spend a significant amount on rent and utilities for the North Campus fire station
• They pay the Ann Arbor Transportation Authority to provide free service for U of M passholders
• They offset education costs for local children

They also contribute to the vitality and intellectual prowess of the city which is a major draw for the area.  At the same time the Pfizer complex tax loss amounts to about $5.4 million a year.

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Kathy Toth & Team: Ann Arbor Area Real Estate Experts

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Keller Williams Realty

Google’s co-founder, Larry Page, plans to visit our bustling city this spring to deliver the University of Michigan’s commencement address.  Although he already has a degree from the U, he will be receiving yet another honorary degree as well.  This is really Page’s first big appearance since the inception of the Ann Arbor AdWords headquarters downtown, and has many wondering if he brings any news for future plans.  Last week Google announced they’d be cutting about 100 recruiters and consolidating some engineering offices.  So negative economic forces even affect the big guys on some levels.

Many are curious about Google’s future plans for Ann Arbor.  Their original plan was to bring at least 1,000 sales employees into the city in the first five years.  A goal they are on pace to fall short of based on their rate of hire.  By most accounts, they are rumored to have about 250 employees to date.  Then again, company representatives report that hiring is typically done in bursts – and we’re just over two years in.  So perhaps we’re just a little impatient.  Considering the current economic downturn however, it would be nice to know that our gentle giant is up to.  So far, mums the word.  Maybe we’ll hear more from Larry Page in the springtime.

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Kathy Toth & Team: Ann Arbor Area Real Estate Experts

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Keller Williams Realty

Nothing beats University of Michigan court side action in Ann Arbor.  Every time the ball was thrown my direction I was glad the players stepped in and caught the ball, because they throw hard and fast.  Some pictures uploaded are from my Storm  phone and more will follow, but until they get uploaded, here is the video rehash.  I wish you could have been in my seat.  What fun to see them score 76 – 59. Some great 3 pointers were scored.

Michigan Beats Florida Gulf Coast in video recap here.

It was great to take a break from the Ann Arbor Real Estate Market for some good old-fashioned fun with the 6 of us in the family.  The kids are home from college so it is nice to spend some time with them – doing things with them.  OK, back to getting ready for the New Year.

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Kathy Toth & Team: Ann Arbor Area Real Estate Experts

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Keller Williams Realty

Speculation about who will buy Ann Arbor’s Pfizer labs has run rampant since the beginning of 2008.  Well the wait is finally over – the University of Michigan recently inked a deal to buy Pfizer’s labs for $108 million.  Analysts expect this purchase to be a boon for the local Ann Arbor economy, bringing new businesses and some 2,000 related jobs to the area in the next 10 years.

According to the U of M Vice President of Research and Executive VP of Medical Affairs, the university plans to create private/public partnerships at the old Pfizer site.  This means the site could become a “center of employment” with other businesses potentially co-locating on the property.  They believe it will become a magnet for private sector development and eventually a win-win for the local tax base.  While U of M may vacate some commercial spaces around town initially, it will likely be a positive for the Ann Arbor commercial real estate market in the long run.

Local leasing offices are not worried as Pfizer occupies spaces in high amenity buildings that should have no trouble with re-leasing.

Take a look as Ann Arbor Mayor John Hieftje discusses his thoughts on the U of M / Pfizer deal:

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Kathy Toth & Team: Ann Arbor Area Real Estate Experts

www.KathyToth.com

Keller Williams Realty