An artists interpretation of the Varsity
Wednesday, a team unveiled plans for a proposed high-rise called the Varsity. The 13-story building would be located just east of the 10-story 411 lofts. Clearly the Varsity is designed to destroy the neighboring high-rise (see above). If approved and built, the Varsity would be the 5th of the recent luxury high-rise targeting students in Ann Arbor. Hopefully this influx of housing might increase competition with other renters resulting in higher quality rentals at lower prices being on the market. That being said, it would be nice to see a greater variety of development happening in Ann Arbor. Perhaps a mixed use building that doesn't just target the wealthiest students.
You can read more about the proposal here and here.