I wish this would have been something more solid, but at least it's interests:
2 firms interested in Ottawa power plant
By Jeremy W. Steele
Lansing State Journal
August 22, 2006
Two firms want to work on a potential redevelopment of the riverfront Ottawa Power Station.
Chicago-based Morningside Group and Lansing-based Abe Property Investments met a 5 p.m. Monday deadline to tell the city they're interest in the mostly vacant power plant and 3 acres of adjacent riverfront property.
The firms could not be reached for comment.
The "letters of interest" are not the full proposals officials had hoped for, but do show interest in downtown, said Bob Trezise, manager of the Lansing Economic Development Corp.
"I do think it's substantial that one of these two developers that we've been able to attract to the city of Lansing is from way outside our area," he said. "They want to take a serious look at this building."
A committee of city and state officials charged with overseeing the developer search will meet within two weeks to begin discussions with the firms. Those talks are hoped to be completed within 30 days, Trezise said.
The developers have said they need data on downtown demographics and property use. Such a market study could cost $50,000.
Chicago-based Morningside has built several loft condominium and retail projects in downtown Royal Oak, including the 70-unit SkyLofts, and is building the 68-unit Liberty Lofts in Ann Arbor.
Abe Property Investments is affiliated with Abraham Real Estate Inc. of Lansing.
Contact Jeremy W. Steele at 377-1015 or email@example.com.