LANSING, Mich. — Lansing Mayor Andy Schor held a press conference on Wednesday announcing a local development is moving toward being finalized.
The Lansing Brownfield Redevelopment Authority unanimously approved a Brownfield Plan for the Red Cedar development
project.
That approval has been sent to Schor's office for review and final approval.
The Brownfield Plan is the financial mechanism for the project that has been in progress for more than six years.
“I am excited that we are taking the next step toward making this development a reality,” said Schor. “The economic development associated with the Red Cedar project will be a tremendous addition to the work being done on Michigan Avenue, creating an exciting and vibrant entrance to the City of Lansing and connector between the Capitol and MSU. City Council unanimously passed the development agreement for this property, and I look forward to their plans for the site, which will include a multi-generational mixed-use global village, a main street, a river view restaurant, parks, and new hotels. Also, a boardwalk that will link the property to the Lansing River Trail, an amphitheater, and a walkway connecting to MSU.
“It is a rare privilege to be involved in such an exciting project on the edge of Lansing, next to Michigan State University that connects East Lansing to Downtown Lansing along this critical corridor,” said Frank Kass. “After the community input and work sessions over the past few years, and with the changes to the original project’s design and financing, we have now estimated our project costs and determined our construction schedules. The real work begins in earnest to design and build an extraordinary development that will be a vital component of the Michigan Avenue Corridor’s continued renewal.”
“I’m so proud to be part of a project that will be a game changer for Lansing, the Michigan Avenue Corridor and the region” said Ferguson. “And I am very fortunate to have Frank Kass as a partner, whose company brings experience, vision and construction expertise to this development. Together, we are going to build a project that the entire community will embrace and create a new benchmark for future development along Michigan Avenue,” continued Ferguson.
The Brownfield Plan will cover the financing that will also involve infrastructure improvements to the tune of $54 million because the development is on a designated flood plain.
“The City of Lansing taxpayer is not putting any dollars directly into this important project, but will benefit tremendously,” said Bob Trezise, President and CEO of LEAP. “To make the project feasible, the Lansing Brownfield Authority will issue public bonds for infrastructure on this site which will be backed 100% by the developer and paid back solely with the new tax revenues generated by the Red Cedar project.”
The plan is expected to be presented to Lansing City Council on Feb. 25.
Pending all approvals, construction is expected to start in September 2019.
