{"id":1548,"date":"2008-12-18T22:54:00","date_gmt":"2008-12-18T22:54:00","guid":{"rendered":"https:\/\/www.ashwinl.com\/ideas\/u-m-to-buy-pfizers-former-ann-arbor-property\/"},"modified":"2008-12-18T22:54:00","modified_gmt":"2008-12-18T22:54:00","slug":"u-m-to-buy-pfizers-former-ann-arbor-property","status":"publish","type":"post","link":"https:\/\/www.ashwinl.com\/ideas\/u-m-to-buy-pfizers-former-ann-arbor-property\/","title":{"rendered":"U-M to buy Pfizer’s former Ann Arbor property"},"content":{"rendered":"

U-M to buy Pfizer’s former Ann Arbor property<\/a><\/p>\n

\n

great news<\/p>\n

Purchase price:<\/b>\u00a0$108 million<\/p>\n

U-M will purchase the property “as is,” and is releasing Pfizer from all pre-closing conditions, including environmental conditions. U-M also will assume responsibility for environmental issues, up to $12 million, should any be present. U-M will have an opportunity to perform extensive due diligence before closing on the property, including a comprehensive assessment of Pfizer’s records and actual environmental condition of the entire site.<\/p>\n

Anticipated jobs created:<\/b>\u00a02,000 faculty and staff positions during next 10 years; potential in time to replace or exceed jobs lost when site was vacated.<\/p>\n

Location:<\/b>\u00a0South of Plymouth Road in northeast Ann Arbor, bordering U-M North Campus<\/p>\n

Total acreage:<\/b>\u00a0173.5 acres<\/p>\n

Number of land parcels:<\/b>\u00a04 (straddling Huron Parkway, with a tunnel between)<\/p>\n

Number of buildings:<\/b>\u00a030<\/p>\n

Number of gross square feet:<\/b>\u00a01.97 million<\/p>\n

Number of gross square feet of research space:<\/b>\u00a01.3 million<\/p>\n

Number of gross square feet of office space:<\/b>\u00a0420,000<\/p>\n

Occupancy:<\/b>\u00a0Can begin late 2009, expected to be completed in 2018.\u00a0
If U-M began planning a new biomedical research building of comparable size today, the earliest it would be occupied is 2014.<\/p>\n

Parking:<\/b>\u00a0approximately 1,500 existing spaces<\/p>\n

Job growth within U-M Health System: historically 400-500 jobs annually; While the Health System will continue to create jobs, it is expected that the growth will slow to 300-400 jobs annually.<\/p>\n

Current U-M research budget:<\/b>\u00a0$876 million in research expenditures in FY 2008
Fifth-largest research university in nation
Market share of NIH funding is growing despite a competitive funding climate<\/p>\n

In 2008:<\/b>\u00a0Licensed 13 new startups; 306 new inventions disclosed; 144 patent applications; all-time high of $25 million in tech transfer revenue.<\/p>\n

Economic impact of University Research Corridor institutions (U-M, Wayne State, Michigan State):<\/b>\u00a0$13.3 billion per year (including 69,285 jobs); educated more students than any other U.S. R&D cluster; Research universities accounted for 94 percent of federal academic research dollars into Michigan.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

U-M to buy Pfizer’s former Ann Arbor property great news Purchase price:\u00a0$108 million U-M will purchase the property “as is,” and is releasing Pfizer from all pre-closing conditions, including environmental conditions. U-M also will assume responsibility for environmental issues, up to $12 million, should any be present. U-M will have an opportunity to perform extensive […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"link","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1548","post","type-post","status-publish","format-link","hentry","category-uncategorized","post_format-post-format-link"],"_links":{"self":[{"href":"https:\/\/www.ashwinl.com\/ideas\/wp-json\/wp\/v2\/posts\/1548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ashwinl.com\/ideas\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ashwinl.com\/ideas\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ashwinl.com\/ideas\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ashwinl.com\/ideas\/wp-json\/wp\/v2\/comments?post=1548"}],"version-history":[{"count":0,"href":"https:\/\/www.ashwinl.com\/ideas\/wp-json\/wp\/v2\/posts\/1548\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ashwinl.com\/ideas\/wp-json\/wp\/v2\/media?parent=1548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ashwinl.com\/ideas\/wp-json\/wp\/v2\/categories?post=1548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ashwinl.com\/ideas\/wp-json\/wp\/v2\/tags?post=1548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}