The developers of 327 E Hoover filed a site plan with the City. The project (including a PDF attachment of the site plan) can be viewed here on the City's eTrackit website:
I posted here about a public meeting the developer held on December 4, 2018. I attended this meeting, and was pleased to see other Ward 4 residents in attendance.
At my coffee hours this Sunday, we talked a little bit about this development and I shared what I learned from the meeting. The units are sizable (over 2000 sq. ft.), with three bedrooms. It is not aimed at a student population. I asked about what comparable properties exist in Ann Arbor right now - the answer was Sloane Plaza (with the caveat that some of the units at Sloane are larger).
Below is a rendering of the proposed development copied from the site plan PDF attachment: http://etrakit.a2gov.org/etrakit3/viewAttachment.aspx?Group=PROJECT&ActivityNo=SP18-053&key=ECON%3a181219094854968
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