Real estate investment platform CrowdStreet announced an offering for an equity investment in a multifamily development in Ann Arbor, Michigan.
Packard Row will be a three-story, 72-unit multifamily building with ground-floor retail space. Ann Abor, home to the University of Michigan, is frequently cited as one of the top places to live in the U.S. in terms of quality of life, a factor that should benefit the project.
Ann Arbor restricts new development so it’s difficult to get approval for new development projects. Because of this, Packard Row will be positioned to take advantage of the demand for housing in a submarket with a 3.3% vacancy rate.
Full story available on Benzinga.com
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Packard Row will be a three-story, 72-unit multifamily building with ground-floor retail space. Ann Abor, home to the University of Michigan, is frequently cited as one of the top places to live in the U.S. in terms of quality of life, a factor that should benefit the project.
Ann Arbor restricts new development so it’s difficult to get approval for new development projects. Because of this, Packard Row will be positioned to take advantage of the demand for housing in a submarket with a 3.3% vacancy rate.
Full story available on Benzinga.com
Continue reading...