A mid-Michigan real estate development team is investing $215 million into three major projects in Lansing that officials say will change the city's skyline.
Developers, state lawmakers and Lansing Mayor Andy Schor gathered in Washington Square Tuesday to make the announcement.
Gentilozzi Real Estate, JFK Investments, architects Hobbs & Black and the Christman Company construction management firm are collaborating on New Vision Lansing, the name for the project as a whole.
The plans include the redevelopment of the current Washington Square building, the construction of a new building near the state Capitol at the corner of Capitol Avenue and Ottawa Street and the creation of a 25-story apartment tower on Grand Avenue.
If completed, that building would be the tallest in downtown Lansing.
Schor said there will be affordable units in each of the properties being built or redeveloped.
"I was on legislative staff for years," he said. "You make $35, $40,000 as a legislative staffer, you've got to be able to afford to live downtown. And with workforce housing ... that's going to be going up, now those folks are going to be able to afford to live here."
John Gentilozzi, a project manager with Gentilozzi Real Estate, said the downtown housing developments will include up to 450 combined rental units.
Some of the apartments will be rented out at current market rates while others will be capped with affordable workforce leases.
"Everyone who lives in this town, everyone who goes to work every day, should be able to have a home in one of these projects," Gentilozzi said. "That's why we're so adamant that we have these workforce structures involved."
The Washington Square redevelopment will
include 70 workforce housing units, a parking structure and retail space as part of the renovation of the century old building.
The Capitol Tower will have office space that has already been pre-leased along with 70 market rate and workforce apartments, parking for 110 vehicles, a rooftop deck and a conferencing center for the office tenants.
The Tower on Grand will be the largest project with 300 apartments. Above the planned parking structure will be a one-acre rooftop green space that will have pickleball courts, a swimming pool and outdoor grilling cabanas.
The state budget for the upcoming fiscal year that Governor Gretchen Whitmer recently signed into law included a $40 million appropriation to fund the project.
Officials expect construction to be finished by the end of next year.
Arjun Thakkar contributed to this report.
