Mayor Andy Schor today announced that a key redevelopment project in the heart of downtown Lansing took an important step forward. The brownfield plan, as proposed by Mayor Schor, along with the Lansing Brownfield Redevelopment Authority (LBRA), for the 500 Block Project was passed by Lansing City Council during their meeting on December 2, 2019. The 500 Block Project is a two-parcel project comprised of properties at 501 S Capitol Avenue and 502 S Washington Avenue.
“Repurposing the Lake Trust parcel in the south end of downtown is an important revitalization effort. Creating new housing and business opportunities will be tremendous for Cherry Hill and downtown neighborhoods. We look forward to working on getting this done,” said Andy Schor, Mayor of Lansing.
Earlier this year, the Lansing Brownfield Authority (LBRA) approved Brownfield Plan #77 for the $33.1 million mixed-use project.
“The Lansing Brownfield Redevelopment Authority (LBRA) supports this project recognizing the incredible impact it will have in this important area of the City. We look forward to this redevelopment joining other exciting projects now underway throughout Lansing,” said Calvin Jones, Chair of the Lansing Brownfield Redevelopment Authority.
Currently, the two parcels are functionally obsolete, contaminated and mostly unoccupied. The developer, True North Development, will fund related brownfield remediation costs up front as part of the overall project cost, and the brownfield reimbursement will be paid for from the increase in new property taxes to be paid by the developer resulting from the developer’s private investment into the property.
The proposed renovation and new construction project will redevelop the contaminated and functionally obsolete parcels into a mixed-use redevelopment project bringing new residents into the City of Lansing’s core downtown and creating up to 14 full-time jobs.
Brownfield eligible activity includes the redevelopment of the former Lake Trust building on Capitol Avenue into 23,461 square feet of finished office/commercial space and four floors of new residential with an estimated 44 multifamily apartments and a new mixed-use building along South Capitol Avenue with an estimated 116 multifamily residential apartments and approximately 3,500 square feet commercial space.
Renovation beginning with asbestos abatement and demolition is anticipated to commence in early 2020 with completion of full renovation by fall 2021. Construction of the new mixed-use building is expected to begin by September 2020 and be completed in spring 2022.
Proposed renderings redevelopment and new construction of 501 S Capitol Avenue provided by the developer.