The University of Michigan plans to buy two parcels of land and two office buildings next to its Wyoming hospital for $45 million, according to a memo at its Board of Regents meeting Thursday.
Executive Vice President and Chief Financial Officer Geoffrey Chatas requested the board acquire more than 10 acres of vacant land and two office buildings next to the U-M Health West Hospital campus on Byron Center Avenue near M-6 in Wyoming.
He states the purchase would “secure our long-term growth opportunities in The Village development,” a mixed-use area around the hospital.
The acquisition is subject to the university satisfying itself with the environmental condition of the site and completing due diligence.
Central reserves and bond proceeds would be used for the purchase.
In a statement to WGVU, the university did receive Regent approval to acquire the land which could be used for future growth.
