Site clearing on Lansing’s Red Cedar development project is scheduled to begin today.
The $270-million project is expected to include two hotels, residential housing, retail, and restaurant space along the Michigan Avenue Corridor on the site of the former Red Cedar golf course.
There’s a brownfield plan of $54-million in infrastructure work over 30 years for the project. With interest, diverted tax revenues are expected to cost the city and the state $123-million.
A press release from mayor Andy Schor’s office indicates that closing on the sale of the property is expected in the next few weeks. The city and the developer, Continental/Ferguson, have agreed to the site clearing schedule in order to meet necessary timelines.
An official groundbreaking is expected next month, with construction completed in the fall of 2022.
