Key Gateway to City of Lansing and MSU Slated for Major Improvements
LANSING, Michigan –Ten years of blight and decay at a former hotel located near Dunckel and Collins roads in Lansing, could soon be lifted thanks to a new redevelopment proposal. Waypoint Residential, a Florida-based developer, has proposed the creation of a 286-unit market rate multi-family community, which is envisioned to meet the housing needs of the many new doctors, nurses, administrators, and other medical professionals who will join the local workforce in conjunction with the McLaren Health Campus development already underway.
“I am excited to reactivate this blighted space. The project will include $500,000 in public improvement to a vital corridor and gateway to the City of Lansing that will ultimately transform the area,” said Lansing Mayor Andy Schor.
With overall private investment of more than $52 million, the proposed development will include tuck under garage parking, an outdoor landscaped pool, outdoor courtyards, grilling stations, enclosed outdoor dog run and park, clubhouse, 4th floor resident amenity Skydeck, and a fully staffed leasing center. In addition, the proposed redevelopment is anticipated to generate 5-8 new full-time equivalent jobs and approximately 200 construction related jobs.
Of the Developer’s $52 million investment, $6.7 million is eligible for Brownfield Reimbursement. The developer will fund related costs up front as part of the overall project cost, and the brownfield reimbursement will be paid for from the $13.7 million increase in new property taxes to be paid by the developer, which will be generated by the more valuable property. The remaining $6.3 million in new property taxes will go the local taxing units including: the City of Lansing, Ingham County, and all other taxing entities. The Developer has also committed $500,000 to the City for public gateway improvements, to be made at the intersection of Dunkel and Collins Roads.
A 20-year Brownfield Plan was approved by the Lansing Brownfield Redevelopment Authority (LBRA) on July 13, 2018. Further consideration of the Brownfield Plan will come before the Lansing City Council in September of 2018. If approved, the project will commence in fall of 2018 and is expected to be completed by June 2021.
"The removal of blight here will undoubtedly have a major positive impact on first and lasting impressions of the City, and it’s also a very unique opportunity to connect our Capital City with the University, and our developing health care-related industries,” said Bob Trezise, President and CEO of LEAP. “The Dunkle Road redevelopment, along with MSU’s Crescent Road development, and the new McLaren Health Care Campus, are key projects that will help us draw and keep the talent and high-tech businesses needed to support growth of a global community like ours.”