Construction Financing Secured for New Student Housing Near University of Michigan

News Summary

CRG and Shapack Partners have secured financing for Chapter Ann Arbor, a 19-story student housing project located close to the University of Michigan. This development will provide 183 units with 625 beds, addressing the increasing demand for student accommodations in Ann Arbor. The project, set to begin construction in August 2025 and complete by 2027, features modern amenities aimed at enhancing the living experience for students.

New Student Housing Project Near the University of Michigan Secures Financing

CRG and Shapack Partners have successfully closed on the site and obtained full construction financing for an innovative 19-story high-rise student housing development known as Chapter Ann Arbor. This project will be situated at 1201-1213 S. University Ave., just one block away from the University of Michigan’s Central Campus in Ann Arbor, Michigan.

With the growing need for student housing in the area, this new development will feature 183 units, providing a total of 625 beds for students. Construction is slated to begin in August 2025, and the completed building is expected to be ready by 2027, aligning with the start of the 2027-28 academic year.

Project Location and Design Details

The Chapter Ann Arbor project will occupy the northeast corner of South University Avenue and Church Street within the vibrant South University District. Designed by Lamar Johnson Collaborative (LJC), the complex will feature a mix of fully furnished apartments ranging from studios to five-bedroom layouts. Each apartment will come equipped with upscale finishes, including wood-style flooring, quartz countertops, stainless steel appliances, smart TVs in living areas, and in-unit laundry facilities.

Amenities Designed for Student Life

The development promises a wealth of amenities designed to enrich student life and academic performance. Key features will include a state-of-the-art fitness center outfitted with cardio machines, weight-training equipment, a wellness studio, and a sauna. Residents will also benefit from study lounges, a library, and private collaboration rooms available for academic support.

Residents will enjoy a rooftop patio that will offer fire pits, grilling stations, a hot tub, and stunning views of both the campus and the greater Ann Arbor area, promoting social interaction among students.

Expertise Behind the Development

CRG’s parent company, Clayco, oversees the entire project, with LJC bringing their experience in student housing, urban high-rise, and campus-adjacent developments to the table. Findorff, a construction firm based in Madison, Wisconsin, has been appointed as the general contractor. Findorff has a strong track record of successfully completing complex campus projects.

CRG, LJC, and Findorff have previously collaborated on the 534-bed Chapter Madison development near the University of Wisconsin-Madison, which was completed ahead of schedule and achieved full occupancy for the 2024-25 academic year.

Addressing Local Housing Needs

The new Chapter Ann Arbor development aims to alleviate the ongoing housing shortage for students in the region. With the enrollment numbers consistently exceeding the availability of purpose-built student housing in the Ann Arbor area, the addition of 625 new beds is both vital and timely. By offering modern, near-campus living options, this development seeks to bridge the growing housing gap for students.

As construction plans move forward, both local students and the broader Ann Arbor community are set to benefit from the high-quality living spaces catered specifically to student needs. This project highlights a commitment to enhancing student life experience while directly addressing the pressing issue of housing supply for university students.

Deeper Dive: News & Info About This Topic

Additional Resources

• RE Journals: CRG & Shapack Partner for Student Housing Development
• Google Search: 19-story student housing Ann Arbor
• Yield Pro: Chapter Ann Arbor Overview
• Wikipedia: Student Housing
• MLive: Boutique Hotel Meets Student Housing
• Encyclopedia Britannica: Student Housing
• ReBusiness Online: New Student Housing Tower Near University of Michigan
• MLive: Potential Demolition for University Dorms