Colleges and universities in Michigan are quickly becoming the urban core of a community, driving development in new ways. As the institutions expand and evaluate their academic offerings to meet the needs of students, they're extending past the boundaries of a traditional campus and integrating more with the surrounding community.
Case in point: the University of Michigan. According to Plante Moran Cresa Partner Ron Gantner in a recent article in the Detroiter, activity around U of M has generated nearly three quarters of the growth in and around Ann Arbor.
In the article, Ron speaks to a fact I couldn't agree with more: that the physical aspects of the institutions — their buildings, architecture, and the atmosphere they generate — are getting students engaged and enticing them to stay on campus longer. This positive engagement, given the integration we're seeing, is generating revenue for the both the school and surrounding businesses, spurring a chain reaction of development.
Many higher education institutions are serving as anchors for regional revitalization and engagement. Have you considered how your college or university could strategically partner with your surrounding community? With the fierce competition for students, renovation and expansion could give your college or university an edge in attracting and retaining new students.
Read more in the Detroiter magazine's March 2017 issue here: