DETROIT—The University of Michigan closed on a $9.5 million purchase of land at 2201 W. Grand River Ave. from MGM Grand Detroit.

The parcel, strategically located across the street from the U-M Center for Innovation, is expected to support the center’s future needs.

Part of the nearly 2.3-acre parcel will be used for a parking structure. The acquisition of the property rendered other property under consideration in the area unnecessary.

Designs for the parking structure are in preliminary stages and will accommodate needs for the UMCI, including the potential for retail options on the first floor.

In December 2023, Olympia Development of Michigan donated 2.1 acres at Grand River Avenue and West Columbia Street for the university to construct the UMCI.

At a future date, Olympia Development of Michigan and Related Companies are planning to develop two additional buildings on the block where UMCI is being constructed by the university—an incubator space and a residential building.

Construction began nearly a year ago on the 200,000-gross-square-foot, six-story UMCI building. Follow the progress on the university’s live webcam.

UMCI will be a world-class research, education and entrepreneurship center designed to advance innovation and talent-focused community development to propel city, region and statewide job creation and inclusive economic growth by stimulating economic development in Detroit.

Programming at the innovation center will offer a mixed-model approach that includes both master’s degrees and workforce development programs that will focus on technology and innovation.