Mayor Andy Schor today announced the closing of the sale of the former Waverly Golf Course and Michigan Avenue Park for $2.2 million. The 120.46± acre property is located in Lansing Township on the southeast quadrant of the Saginaw Street and Waverly Road intersection. Lansing voters approved the disposition of the land in 2012.
“Today we finalized the sale of the old Waverly Golf Course property, which has been ongoing for quite some time,” said Mayor Andy Schor. “I’m happy that we were able to finalize this deal and raise $2.2 million for the City of Lansing Parks and Recreation Department.”
Lansing Township supports this sale and agreed to appropriate rezoning to provide for commercial and residential development. The purchaser is controlled by Northern Capital Investments, a Grand Rapids based developer. The purchaser is proposing $100 million in mixed-use development for the area.
CBRE|Martin managed the sale and marketing of the property on behalf of the City of Lansing.
The profit of the sale will go toward the City of Lansing Parks and Recreation Department.