Ferris now owns 17 residence halls and at least 90 buildings that range in price from $23 thousand to $52 million.
According to the Ferris State University Statement of Values that is released by the university and includes all of the universities buildings, the value of each building, the contents value, the library value and the fine arts value, Ferris owns more than $700 million worth of buildings between the Big Rapids and Grand Rapids campuses. The combination of all buildings included in the statement, which excludes North Hall, totals $708,712,628, which is an increase in value of more than $14 million from last year as almost every building saw a small increase in value.
The building values are based on the property insurance for each building and the values are then reviewed each year during the property insurance renewal process, according to Ferris State Safety Coordinator Mike McKay. The values are based on historic data and are adjusted based on a fixed rate.
With the addition of North Hall, which was budgeted at $28.15 million, the worth of residence halls at Ferris equals just more than $97 millions with the assumption North Hall was built at maximum budget. That would also mean that North Hall is worth approximately 29 percent of the total worth of residence halls on campus. The other halls are worth:
Bishop: $6,984,428 | Built 1968 and renovated in 1987 | Contents value: $533,336
Bond: Not listed | Built 1966 | Contents value: Not listed
Brophy: $3,614,290 | Built 1962 | Contents value: $627,433
Clark: $5,918,634 | Built 1960 | Contents value: $647,437
Cramer: $9,489,928 | Built 1969 | Contents value: 1,013,502
Hallisy: $6,413,630 | Built 1958 | Contents value: $520,103
Henderson: $3,568,855 | Built 1965 | Contents value: $1,070,932
Johnson: $4,328,546 | Built 1959 | Contents value: $641,978
McNerny: $3,353,483 | Built 1962 | Contents value: $642,493
Merrill: $5,275,958 | Built 1961 | Contents value: $569,697
Miller: $3,892,662 | Built 1964 | Contents value: $590,372
Pickell: $5,119,369 | Built 1965 | Contents value: $588,915
Puterbaugh: $3,903,438 | Built 1965 | Contents value: $1,172,789
Taggart: $4,850,458 | Built 1964 | Contents value: $0
Travis: $5,275,958 | Built 1961 | Contents value: $563,258
Vandercook: $5,505,753 | Built 1957-98 | Contents value: $539,484
Ward: $4,601,492 | Built 1963 | Contents value: $588,915
Other than the residence halls, the rest of campus features some other very expensive buildings. The top five most expensive buildings are:
FLITE: $52,040,576 | Built 2001 | Contents value: $21,540,576 | Fine Arts value: $10,000,000 | Library value: $26,516,305 | Total value: $110,097,791
University Center: $34, 997,030 | Built 2015 | Contents value: $5,537,830 | Total value: $40,534,860
Michigan College of Optometry: $29,148,662 | Built 2010 | Contents value: Listed at $0 | Total value: $29,148,662
Student Recreation Center: $20,412,811 | Built 1962 renovated 1999 | Contents value: $472,078 | Total value: 20,884,889
Ewigleben Sports Center: $15,970,902 | Built 1974 renovated 1982 & 1999 | Contents value: $1,070,932 | Total value: $16,991,002
The fine art value listed for FLITE was determined by independent appraisals.
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