ANN ARBOR, Mich. (Michigan News Source) – The University of Michigan is looking to expand student housing.

The school will spend $75 million to acquire 49 properties in Ann Arbor. This purchase will pave the way for the second phase of the Central Campus housing project.

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The Board of Regents will vote on the sale during its meeting on Thursday. Regent Ron Weiser, a real estate investor, purchased the properties to sell back to U of M. He says he will not make a profit off the sale.

According to documents, the money will come from university reserves.