The first luxury student housing development has set off a trend that is reshaping Ann Arbor's skyline.
Excerpt:
This fall’s opening of the final phase of The Courtyards high-rise near North Campus closes at least seven years of development by two successive companies that saw potential in building new student housing near the University of Michigan.
The project at the eastern intersection of Plymouth and Broadway still has vacancies as the third and final building in the complex opens to residents, developers said this week.
But they also said the original vision for the project - to build hundreds of upscale rentals with privacy and onsite amenities - has taken hold in Ann Arbor as three additional new projects reconfigure the student rental market.
“We were in a bit of a pioneering situation,” said Jim Smith, managing principal at Kensington Realty Advisors.
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