SkyVue on Michigan gets underway
LANSING, Mich. – As of 8:00 a.m. this morning, the demolition of the former Story Oldsmobile facility on Michigan Avenue was underway. The deconstruction of the Story buildings is the next step in the $77 million SkyVue on Michigan project, following months of work and cooperation between project developers RISE Real Estate, the Lansing Economic Area Partnership (LEAP), the City of Lansing, Lansing Brownfield Redevelopment Authority (LBRA), Michigan Economic Development Corporation (MEDC) and Michigan Department of Environmental Quality (MDEQ).
The SkyVue on Michigan project is being built by RISE Real Estate of Atlanta, GA. RISE plans to construct a 667,000 square foot, 9-story, mixed-use building featuring 359 residential units and a retail component, as well as parking on the north end of the development, which is adjacent to the Frandor Shopping Center.
“RISE’s SkyVue development is a welcome addition to this key corridor by complementing the exciting Red Cedar Renaissance and Midtown projects, while eliminating a blighted property on the Michigan Avenue Corridor,” said Mayor Virg Bernero. “This development will help redefine the corridor as a bustling, central hub of activity – a truly global village – for professionals, students, visitors and residents of metro Lansing.”
“SkyVue on Michigan and the Red Cedar Renaissance, which together represent private investment in excess of $350 million, will further drive the reinvention of the Michigan Avenue Corridor, creating a global market leader, keyed around the riverfront, the park, and Frandor, all connecting the university and the capitol in a Madison or Columbus-like way,” said Bob Trezise, president and CEO of LEAP.
“Our firm is excited to be underway with this transformative redevelopment occurring along the Michigan Avenue Corridor. We are appreciative of the visionary leadership of Mayor Bernero and LEAP and look forward to seeing SkyVue on Michigan rise up along Michigan Avenue,” said Matthew Marshall, vice president of RISE.
The development is scheduled to be completed by the summer of 2017.
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About LEAP
The Lansing Economic Area Partnership (LEAP) is a coalition of area leaders partnering to build a stronger community for all—working every day to grow, retain and attract business.
Category: Business Development, Press Releases