Lansing (Re) Development – Positive Changes

Have you been to downtown Lansing recently?

In the midst of growing foreclosures & higher unemployment around the state, Lansing is in the middle of major changes to it’s skyline. Last night, Mayor Virg Benero outlined some new tax incentives to homeowners and investors for home improvements. (read the text of his State of the City here)

This proposal will offer a 50% break on the increased taxes resulting from qualified improvements to your primary residence or improvements to an old, abandoned house to an owner-occupied home. More details will follow when the plan is worked out by the mayor.

But, even more exciting is the number of new housing & retail developments that are going on downtown. Here is a brief list of the projects:Stadium District

Stadium Lofts:

  • In the heart of the new Stadium District, across the street from Oldsmobile Park
  • Mixed commercial (1st floor) and residential
  • Opening Spring of 2008
  • Designated as a Neighborhood Enterprise Zone (NEZ)
  • Received designation as one of 23 “Cool Cities” by the State of Michigan

Capitol Club Tower: Capitol Club Towers

  • Start Construction in Spring 2008
  • 20 story high rise condominiums
  • Will become the 2nd tallest building in downtown Lansing
  • Downtown river frontage
  • Private balconies
  • Tax-Free Living (no property tax, no city income tax, not state income tax plus 1.5% interest rate reduction)
  • Fine dining & health facilities

Kalamazoo Street Gateway Center: Lansing Gateway Center

  • LEED Certified
  • Energy Efficient
  • Green Roof
  • Retail & Residential
  • 32 one and two bedroom apartments
  • 10 Condos
  • Near the River Trail
  • Near the Stadium District

stadium north

Ballpark North:

  • Overlooks left field at the Lugnuts stadium
  • 138,000 sq. ft. of commercial and residential space
  • Covered and surface parking
  • 6 stories of Condos and apartments

City Market Renovations:Market Place

  • 3 acre site along the Grand River facing the new Accident Fund Building World headquarters
  • 140,000 Sq. Ft. of buildings
  • 2 four story residential buildings with a total of 90 to 120 mixed condos and apartments
  • 10,000 sq. ft. riverfront restaurant

Motor Wheel Lofts:

  • LEED Certified
  • Still some available units
  • 119 loft style condos
  • 15 different floor plans ranging from 590 to 3,000 sq. ft.
  • Underground parking
  • Exercise Room

The Arbaugh:

  • Corner of Washington & Kalamazoo
  • Near Cooley Law School
  • 48 residential apartment units
  • 20,000 sq. ft. of commercial space
  • High ceilings
  • Underground parking
  • Washer & Dryer in unit

View Larger Map

Photos and sources of information from the City Pulse, the Gillespie group.

All of this development and new construction will bring some short term construction jobs but more importantly will attract more companies to look at downtown Lansing for growth and partnership. The Lansing Business Monthly has some really good articles on the developments, click here for more

the Cashflow Coach

Copyright © 2008 the Cashflow Coach | All Rights Reserved

This entry was posted in Articles, Michigan Economy. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *