Another Gift To U. Of M.

ANOTHER GIFT TO U. OF M.

Valuable Detroit Property Sold at a Low Figure

BY DAVID C. WHITNEY

Adjoins Property Now Owned by University – Regents Will Build Apartment House

Once more has the University of Michigan been the recipient of handsome gift, this time in the shape of a tract of Detroit real estate, which, while ostensibly purchased by the board of regents, was, as a matter of fact, sold for such a nominal figure as to betray the interest the vendor felt in the University.

The filing in the register of deed's office at Detroit, yesterday, of a deed by which David C. Whitney and Charles Stinchfield, as trustees of the estate of David Whitney, jr., transferred to the regents of the University of Michigan a tract of land on the west side of Woodward avenue, between Willis and Canfield avenues, marks a new era in the history of real estate in that vicinity, and presages the addition of modern apartment house of liberal proportions. Incidentally, it is but just to say that the success of the enterprise which is contemplated by the regents will be due in no small degree to the generosity of Mr. David C. Whitney, who virtually made a gift of the land to the Univserity.

The consideration mentioned in the deed was $5,000 "and other valuable considerations," but the latter represents the larger amount of the two. The lot, which has a frontage of 53 feet on Woodward avenue and runs back for a distance of 195 feet, is placed on the city assessment rolls at a valuation of $10,640, but this is admittedly low, although this would bring it up to $200 a front foot. It adjoins what is known as the University property on the north, which in turn lies just to the south of the property of Mrs. Sarah E. McLean, at the corner of Canfield avenue. The two lots have a combined frontage of 144 feet on Woodward avenue, and both will be utilized in the erection of the proposed apartment house.

While those interested are averse to discussing the plans, declaring that nothing definite has yet been decided upon further than a general understanding, it is admitted that the erection of a large apartment house is being contemplated by the regents of the University, who have faith in Detroit real estate, and who will build the apartments purely as an investment. The details of the plan are yet to be worked out, but the indications are that in a short time an imposing structure will adorn the site.

It is well known that the regents have several trust funds in their possession which have been donated to the University from time to time, and the interest of which only is available for use. It is to invest these funds so as to secure as large an income a possible that the regents contemplate the erection of an apartment building on the property just purchased and the lot adjoining, which was already owned by the University.