LANSING — A new redevelopment plan to transform two obsolete Ford Land office buildings into new student housing structures and an activity center for residents and the general student population was announced this week. 

The plan, known as the Union at Dearborn Redevelopment Project, will use a Michigan Economic Growth Authority (MEGA) tax credit to renovate the property located at Town Center Drive in Dearborn. About $47 million in investments are expected to come from the project according to a report in The Detroit Free Press. 

The renovations will tentatively be done on two office buildings on 12.5 acres of property at 760-780 Town Center Drive in Dearborn across Evergreen Street from the UM-Dearborn campus. 

In addition to the construction job opportunities, approximately 55 permanent jobs are expected to be created by the commercial housing and student activities center. Upon completion of the first phase of the project, more than 500 students will be able to call the buildings home and it is anticipated that several hundred more will be able to after the second phase of renovation. 

State Rep. George T. Darany (D-Dearborn) lauded the project, saying it could be mean an economic boost for the city, especially its downtown area. 

“Establishing more student residency in Dearborn will help bring additional economic activity to our city,” Darany said. “Creating local jobs and increasing economic development in our community is one of the most important things we can do, and this project will help us make substantial progress toward that goal. We are showing that we are committed to doing whatever it takes to improve our economy and continue to make Dearborn a great place to live.”