Development News

New Michigan Stadium suites sell briskly

Wednesday, March 17, 2010

Ann Arbor

Even though the economy is having problems the effects aren't visible at Michigan Stadium where nearly 70 percent of the luxury suites and 80 percent of the club seats for next season have sold.

The University of Michigan is in the latter stages of completely revamping one of college football's most hallowed grounds. The university is investing $226 million to add luxury suits, club seating and revamped facilities --such as bathrooms and concession stands-- throughout the stadium. The project, scheduled to be completed by this year's season opener, will raise Big House's capacity by 500 seats to 108,500.

The luxury suites, 81 in total, sell for $55,000 to $85,000 a piece. There are also 3,000 club seats with an asking price of $1,500 to $3,000 a piece. Prior to this project fans had been limited to bleacher seating (the stadium was built in 1927). So far 57 the university has 57 signed commitments for its luxury suites. The goal is to sell out by the season opener this fall.

"We're getting new commitments every day," says Joe Parker, a senior associate athletic director with U-M. Parker handles fund-raising and corporate relations for the Michigan Stadium project. He points out that most of the luxury suite commitments are from individuals, not corporations.

"The typical profile is someone who is a graduate of the university and a long-time supporter of campus development," Parker says. "They are usually a high-net worth individual or have ties to a large, family owned company."

The university will hold a walk through of the new facilities during the U-M Football Spring Game on April 16-17. More walk throughs will be held when construction wraps up in June. For information, call (734) 764-7131.

The 400,000-square-foot expansion includes two multi-story masonry structures on both the field's east and west sides. The level of the stadium bowl will stand 10 feet higher than the highest point of the current scoreboards. The new design will direct more crowd noise onto the field, too. There will also be two smaller buildings at the north and south end zones that house additional restrooms and concessions and support functions, such as first-aid, security and will-call.

Private donations and Athletic Department resources, primarily revenues generated by the new seating, will cover the renovation's $226-million price tag. Stephen M. Ross, one of the nation�s premier real estate developers, recently gave $5 million to the project through The Michigan Difference, the university�s $2.5 billion fundraising campaign.

Source: Joe Parker, a senior associate athletic director with the University of Michigan
Writer: Jon Zemke

Development News

New Michigan Stadium suites sell briskly

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