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Old Posted Jul 24, 2015, 2:22 AM
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Hundreds of new apartments in downtown Ann Arbor getting ready to welcome tenants
By Ryan Stanton. July 23, 2015. MLive.

In the race to bring new luxury apartments to market in downtown Ann Arbor, and fill them with tenants by this fall, not all will be champions.

While three new rental housing developments are getting ready to welcome residents in August and September, the Foundry Lofts high-rise at 413 E. Huron St. is months behind schedule, has struggled with leasing, and now has canceled fall leases.

Billed as luxury student housing, the 14-story building was expected to begin welcoming tenants in late August in time for the start of the University of Michigan's fall semester, but those who signed leases for the fall are being forced to make other accommodations now, and the developer is citing construction delays as the reason.

The leasing website now indicates finished apartments will be available starting in January 2016 in time for U-M's spring semester.

A representative for the Cardinal Group, the management firm handling leasing for Foundry Lofts, said about 25 percent of the units are pre-leased.

....

Counting the Foundry Lofts and ArborBLU student apartment high-rises, as well as 618 South Main and the Munger Graduate Residences, nearly 1,600 new beds are being added to the rental housing market in downtown Ann Arbor.

That follows a wave of housing development, including other apartment high-rises built in recent years that have increased the downtown population.

By the Downtown Development Authority's count, more than 1,400 new bedrooms were constructed downtown between 2010 and 2014.

Based on occupancy reports, the DDA estimates the downtown population is now about 5,500, up from 4,067 in the 2010 census.

In addition to luxury apartments, dozens of high-end condos are being built in the downtown and selling faster than developers can build them.
Foundry Lofts - Delayed opening to January 2016


ArborBLU - Move-in ready by August 25th


618 South Main - Move-in ready August 1st






Munger Graduate Residences at the University of Michigan - Opening August 1st


Bonus peek inside the U-M new dorms. They look pretty fancy.
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