Large-scale student housing developments are changing the composition of South University Avenue. At its center are The Metropolitan, an upcoming 259-unit high-rise development constructed by Landmark Properties and Manulife Investment Management, and Chapter Ann Arbor, a 183-unit development by CRG.
The developments come at a time of rising housing costs in Ann Arbor driven by a supply shortage. The median home sale price in the city pushed past $500,000 for the first time in early 2024, and the average monthly rent for an apartment now sits at over $2,000.
The Metropolitan, located at 1208 S. University Ave., will take the place of the Galleria Mall site. It will replace now-closed businesses like Pinball Pete’s — which is moving to East Liberty Street — Starbucks and Pancheros. Construction has not yet begun, but is projected to be complete by May 31, 2028…