DETROIT (CBS Detroit) — The University of Michigan, as well as Related Companies and Olympia Development, announced the location of the new Detroit Center for Innovation.

Officials say it will be built in The District Detroit — a mixed-use development in the area between Cass and Grand River avenues and between West Columbia Street on the north and Elizabeth Street on the south — and anchored by an estimated $250 million, 200,000-square-foot research and education center to be operated by the university.

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The three-building campus will include a technology incubator and nearly 300 housing units. It will also include green space.

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“We are enthusiastic about what the Detroit Center for Innovation will mean for the city, its residents and businesses, and our current and future students,” U of M President Mark Schlissel says in a news release. “The University of Michigan is already setting the groundwork for this new academic center, and we look forward to providing the kind of advanced educational programs that will meet the needs of an evolving workforce and move our economy forward.”

The project’s groundbreaking is expected to begin in 2023.

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