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New Michigan Avenue Development Project Announced

FOR IMMEDIATE RELEASE
January 10, 2017
CONTACT: Victoria Meadows, LEAP
517-702-3387 ext. 209 office
517-331-0198 mobile

New Michigan Avenue Development Project Announced
Mixed-Use Project to Redevelop Blighted Buildings and Create Permanent Jobs

LANSING, MI Mayor Virg Bernero and the Lansing Economic Area Partnership (LEAP) announced a major new redevelopment project in the East Town region of Michigan Avenue to be completed by 2200 Block, LLC, an affiliate of The Gillespie Company, Inc. The 4-story project, Provident Place, is a mixed-use development with 9,500 square feet of commercial/retail space, 33 new residential units, and a new parking structure. The development includes demolition and environmental cleanup of two vacant, obsolete buildings located at 2216 and 2224 East Michigan Avenue in the City of Lansing.

“We are excited to introduce another project aimed at improving East Town on the Michigan Avenue Corridor,” said Scott Gillespie, Founder and Owner of The Gillespie Company, LLC. “Redevelopment of these properties advances the vision of East Town as a vibrant, active, attractive, successful place to live and work. As a Lansing native, this is a vision I am personally committed to, and one that The Gillespie Company is working to achieve.”

The total project cost is estimated at $7 million dollars and will create 20 to 30 temporary construction jobs and 15 to 20 new permanent jobs.

“The transformation of empty, blighted buildings into productive spaces creates new short- and long-term business opportunities, puts people to work, increases city revenues, and adds to the overall appeal of the Lansing area,” said Mayor Bernero. “Thanks to Scott Gillespie and LEAP for their partnership and continued efforts to revitalize the Michigan Avenue Corridor.”

The developer has asked for a brownfield incentive from the City of Lansing, which would reimburse the company approximately $1.7 million over the next 19 years in brownfield costs. The developer will fund these costs up front as part of the overall project cost, and the brownfield cost reimbursement will be paid for from the future increase in property taxes, paid for by the developer on the new, more valuable property. The project is contingent upon Lansing City Council’s approval of the brownfield plan and additional State of Michigan support. The Provident Place project was approved by the Lansing Brownfield Redevelopment Authority on Friday, January 13, 2017. The project is expected to be completed fall of 2018.

“The Provident Place project will encourage continued economic activity along the Michigan Avenue Corridor,” said Bob Trezise, President and CEO of LEAP. “LEAP is excited to be working with Scott Gillespie and the City of Lansing to bring new jobs, new residential options, and a renewed sense of place to the region.”

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The Lansing Economic Area Partnership (LEAP) is a coalition of area leaders committed to building a prosperous and vibrant region where business can thrive. To do this, we help entrepreneurs start new businesses, help existing businesses grow, and attract new businesses to the region.
For more information about LEAP, please visit www.purelansing.com.

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