EMU Today

YPSILANTI – Eastern Michigan University is evaluating the purchase of an 11-acre parcel of property off Lowell Street, adjacent to the northeast end of campus.

The Board of Regents gave the go-ahead for the evaluation process, and the negotiation and execution of final documents for the parcel, on Thursday. The property currently includes warehouse space for the Michigan Firehouse Museum. It is located across the street from the Ann Street Parking lot on the EMU campus.

The property, known as 800 Lowell, would cost $2.65 million. The seller is Urban Campus Communities LLC. As part of its evaluation process, the University will conduct due diligence and develop a business plan for the purchase over a period extending through May 15, 2019.

Eastern Michigan expects to incur $45,000 in costs associated with the diligence period, with an additional deposit of $400,000 due on May 15, should the University decide to proceed. The remaining $2,205,000 would be due at closing.

About Eastern Michigan University

Founded in 1849, Eastern is the second oldest public university in Michigan. It currently serves more than 19,000 students pursuing undergraduate, graduate, specialist, doctoral and certificate degrees in the arts, sciences and professions. In all, more than 300 majors, minors and concentrations are delivered through the University's Colleges of Arts and Sciences; Business; Education; Health and Human Services; Technology, and its graduate school. EMU is regularly recognized by national publications for its excellence, diversity, and commitment to applied education. For more information about Eastern Michigan University, visit the University's website.