A proposed redevelopment could soon transform a former school at the center of the Potter Walsh and Holmes Street School Neighborhoods into 40 new studio and one-bedroom apartments. The building has been vacant for a decade or more and left in a state of continued deterioration after previous redevelopment efforts stalled.
An Obsolete Properties Rehabilitation Act (OPRA) Certificate Application was presented by LEAP staff on behalf of Mayor Schor and Lansing EDC for the former Holmes Street School redevelopment project to the Lansing City Council for consideration on October 28, 2019. This project was approved by City Council and will move forward pending state approval.
“We are excited to grow Lansing and rehabilitate properties all over the city,” said Mayor Schor. “I have heard complaints about the disrepair and need to fix up the Holmes Street School for many years. I am thrilled that we were able to close the deal on this property and put it on a path to be an asset, rather than a drain to the wonderful Potter Walsh Neighborhood.”
With the OPRA Certification Application now approved, the project will be submitted to the State Tax Commission for final approval. The project, which is expected to commence in early 2020 pending all required approvals, will transform nearly 31,000 square feet of the functionally obsolete space. Currently, the three-story building does not have a functional elevator or heating system. The building has no plumbing and no functioning electrical system, there is significant interior water damage and the roof is deficient.
The $2.82 million project will transform the building and several acres of surrounding greenspace, making the project property a natural center place for the Potter Walsh and Holmes Street School Neighborhoods, which has seen significant, recent investment in adjacent single-family homes. The project, spearheaded by Dymaxion Development, is a natural continuation of the neighborhood’s strength and investment in its residents. The project is also poised to create three new full-time jobs.
Redevelopment of the project property will bring new residential options to the neighborhood and turn a blighted property into a vibrant and functional building. Utilizing an OPRA tax abatement will help make this project economically viable and support an immediate start to rehabilitation activities.