Mayor Virg Bernero and LEAP President and CEO Bob Trezise announced today that the current building occupying 4000 North Grand River Avenue, adjacent to the Capital Region International Airport and Peckham, Inc., will be demolished to make way for a new 80,000 square foot mixed-use development.
The current building, owned by Sam Eyde Management, has been deemed functionally obsolete and is eligible for redevelopment incentives from Lansing’s Brownfield Redevelopment Authority (LBRA). The total anticipated investment in the project is $7,000,000 and 25 new jobs will be created.
“Lansing’s economic momentum continues to build and this exciting development will add even more value to a key corridor in our city,” said Mayor Bernero. “Thanks to the Eydes for believing in Lansing and investing in Lansing, and kudos once again to the LEAP team for making it happen.”
“This project is adjacent to Port Lansing and the Capital Region International Airport. The corridor leading to the airport has tremendous opportunity for development,” said Bob Trezise. “It is important for the private sector to begin investing in this area to help grow regional investment as well as increase our global footprint.”
“We are looking forward to working together with the City of Lansing to develop this site to provide another vibrant project for visitors and locals traveling in and out of our Capital City,” said Sam Eyde II, Director of Business for Sam Eyde Management.
The economic incentives for the project will be considered by the LBRA and the Lansing City Council at upcoming meetings.