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A joint venture between CRG and Shapack Partners has acquired the site and obtained construction financing for Chapter Ann Arbor, a 183-unit, 625-bed student housing project in Ann Arbor, Mich.

The developer is set to break ground on the project in August, with delivery scheduled in 2027, before the start of the academic year. Partners on the project include designer Lamar Johnson Collaborative and general contractor Findorff.

The project will rise at 1201-1213 S. University Ave. in the South University District, within walking distance of the University of Michigan at Ann Arbor campus. The 19-story building will also be 1 mile from the city center and 44 miles from downtown Detroit.