CPM looking at Arby's location for student housing for U of M.

The Arby’s at 1016 Washington Ave se is being eyed by developer CPM for a new student housing center. Although still in the early stages, CPM likes the site as it is with in 2-3 blocks of other student housing and would allow for retail on the first floor and student housing above it, not to mention future plans for a LRT stop right across the street from the site. With approximately 49,000 students attending the U of M and only room for 6,000 in the U residence halls, there is still an on-going need for student housing around the University. In addition to razing Arby’s there is also a Plasma center and a multi tenant building that would have to come down. It is estimated that they could fit 200-250 units on the property.

Source: Finance & Commerce