Michigan Innovation Headquarters, a developer of life science and technology workspaces, has bought Eastern Michigan University‘s former College of Business headquarters, the Gary Owens Building, in downtown Ypsilanti.

MI-HQ plans to fully renovate the building to provide a functional space for entrepreneurs and scientists.

“These added innovators will bring additional foot traffic to the downtown core and businesses recovering from the lack of pedestrian traffic during COVID,” said Mark Smith, president of MI-HQ. “With abundant housing stock near the building, there is a great opportunity for workers to be able to locate and walk or bike to work.”

The deal was a collaboration between Ann Arbor SPARK, Eastern Michigan University, the City of Ypsilanti, Washtenaw County and Michigan Economic Development Corporation.