By Geoff Larcom / EMU
YPSILANTI – Eastern Michigan University plans to sell the Corporate Education Center, located at Eagle Crest Resort, to MFS Ypsilanti Holdings, LLC, the operator of the Marriott Hotel adjacent to the center.
The EMU Board of Regents Thursday (June 13) authorized University President James Smith to negotiate and execute final documents for the sale. The Corporate Education Center (CEC) is located at 1275 South Huron Street, and is part of a complex that includes the hotel and the adjoining Eagle Crest Golf Course.
In recommending the sale, the University administration noted that the delivery of corporate education has changed since the construction of the Corporate Education Center, such that the original intent of the center is no longer consistent with the University’s business model for non-credit instruction.
The center has been operated by Marriot Management as part of a management agreement, which also includes Eagle Crest Golf Course. The management agreement will need to be amended as well to reflect the sale.
Sale of the CEC is not expected to have an impact on the operations of Eagle Crest Golf Course, which will continue to be operated by Eagle Administrative Services.
The agreed upon sale price is $2 million, with financial closing expected in the first quarter of the 2020 fiscal year. The net funds realized from the sale will be directed to the University’s financial reserves.
About Eastern Michigan University
Founded in 1849, Eastern is the second oldest public university in Michigan. It currently serves more than 19,000 students pursuing undergraduate, graduate, specialist, doctoral and certificate degrees in the arts, sciences and professions. In all, more than 300 majors, minors and concentrations are delivered through the University’s Colleges of Arts and Sciences; Business; Education; Engineering and Technology; Health and Human Services; and, its graduate school. EMU is regularly recognized by national publications for its excellence, diversity, and commitment to applied education. For more information about Eastern Michigan University, visit the University’s website.