University To Offer New Affordable Housing Program For Students With Rich Parents

The university will also institute payment plans for students with ‘kind-of rich parents.’

Senior Associate Director of Housing at the University of Michigan Amir Baghdadchi recently announced that the housing department would be partnering with the company to create a new housing program. The housing program promised to be “affordable to all students,” granted those students with rich parents first.

The announcement reportedly came after a decision by the department to make a stronger effort to create housing opportunities for the large number of students on campus.

“We have decided to partner with Wolverine Building Group to create a collection of high-rise apartment buildings all across downtown Ann Arbor, which will be affordable to a vast majority of students,” said Baghdadchi .

The Senior Vice President of Wolverine, Troy Redman, followed Baghdadchi’s announcement by explaining that rent for the standard two-bedroom apartment would vary anywhere between $2,000 and $3,000 a month. “Fortunately, for the average University of Michigan student, this is extremely affordable,” said Redman, whose parents reportedly have a combined annual income of over $500,000.

Junior Mark Burkins of the Ross School of Business was excited by the prospect of new high rise apartments in town. “I don’t know what my rent costs now because my parents pay it,” said Burkins. “But if these new places have a better cyber cafe than Landmark, I’d be down to move.”

Other students have expressed concerns that the housing may be out of budget for “literally any student who has to pay any of their own expenses.”

The University has stated that it is projected to take two full years to complete all of the new buildings and that each one will be more affordable than the last, depending on how much your parents make. Neither the housing department nor Wolverine Building Group have commented on the fact that the starting rent prices are virtually unaffordable for students who do not come from some means.

At press time, the President of Wolverine Building was seen explaining that the housing becomes even more affordable if you put four to six people in a one bedroom apartment.

Related News