The PSD director made an interesting comment also: "There are other projects in the works for the 200 South Washington block that will just add to the mix."
It also said that "Green expects to make an announcement on those additions by Jan. 1."
These restaurants sound pretty upscale. With the Majority and Troppo's just a block or two away, this should really create quite a synergy, or at least something to sustain the small downtown residential population during the evening and nights, and the daytime office crowd. I was really disappointed to here the Parthenon closing, and I'd been skeptical about the Firm, but after seeing what they did to the building and then reading this, this sounds great.
I like the new name for 206 S. Washington. It's an often used named, but will fit downtown great. I didn't get pictures of this, today, but I've done my first photo tour in a long time, and expect to post it today or tomorrow.
I'll be glad to see a new photo tour, I drive through downtown at least twice a week now that I have classes at LCC's downtown campus, but somehow seeing photos makes the development seem that much more real and impressive, if that makes any sense.
This is actually more of a small photo tour than anything else, but it's the first one I've done in months. I didn't capture a lot of what's going on, and this was more a bike ride than anything. I rode my bike up Michigan Avenue from downtown, to MSU, and then back along the River Trail.
The Firm, formerly the Parthenon greek restuarant, is a new, upscale restaurant and bar that will include a dance floor. They've been working hard on this one for weeks now, and it will open by months end. Here's a story done on it recently The Firm - Lansing State Journal Story
The John A. Kerr House/Mansion built in 1860 is being renovated for office space for Printer's Row.
These are the "garden" condominiums of Phase II. These are really changing the feel of this neighborhood.
Sign
The CBD from Cherry Hill
Sparrow Hospital West Wing expansion - just one more floor to go, it looks like.
Random shot of Ressurection School further up Michigan, which is in the urban Ressurection Church complex along Michigan Avenue.
Campus Village II under construction right at the border of Lansing and East Lansing (but in East Lansing).
Sorry for the quality, the new University Village at MSU on Kalamazoo Avenue.
Coming back on the River Trail along the Red Cedar River, which fills incredibly natural despite being right in middle of it all.
One of the many bogs/lagoons on this part of the river. This is the lowest land in Lansing, and really shows how a lot of the area looked before it was developed.
You're right. It is two more floors, I must have miscounted, originally. I always forget how tall the first phase of the building was. lol I also noticed they are working heavily on the back, at the moment, which is why it seems like they aren't doing much from the front.
BTW, if you could get some photos on the things I missed (i.e. Tavern on the Square, Ranney Building, University Center...), that would be great.
I probably won't be able to get out to take pictures until Saturday or sunday, weather permitting. Then I will got through the usual list of projects I do, including University Center, Michigan Resturaunt Association building (if anything changes), the northern tier developments, Sparrow, and I can add the couple things on Washington Sq too.
Good news for the office market in downtown Lansing, the vacancy rate at the beginning of 2006 was only 8.6%, or 188,880 sq ft of 2,194,772 sq ft. Bob Tresize said that CBRE JUST completed a new report, so I emailed them about it and I hope to get a response soon. I can currently find less than 80,000 sq ft of class A space available for lease on CPIX, including about 45,000 sq ft in Capitol Tower and 30,000 sq ft in Boji Tower. I've seen multiple buildings dissapear from the "For Lease" listings since the beginning of this year so I would hope that the new numbers are even lower yet, if only by one or two percent (which would actually be quite impressive). Whats great is that it would only take two margionally sized leases to to reduce the vacancy rate to about 4% or lower, that is actually too low for comfort and would virtually force new construction or substantial rennovation. Over the next year there will only be about 70,000 sq ft of class A space added, that will be in the Hollister Building and the Stadium District (the Stadium District space is already leased).
On the bad news side, the overall vacancy rate in the CBD was 18.9 %. 30.3% for class B and 52.9% for class C. However, those numbers lack any real importance as much of the class B space is in small buildings and houses, of the larger class B structures, the Hollister Building is going class A and the Mutual Building is going class A Institutional office, taking about 130,000 sq ft of the 260,000 sq ft of space off the market (and moving only 55k sq ft to class A). And when it comes to class C space, 180,000-190,000 sq ft of the vacant 199,000 sq ft is the Knapps Building. Taken into account all this, the CBD could easily have a practical vacancy rate of just over 10% by next year. Thats assuming that none of the Hollister building's 55k sq ft are leased, no other space is leased (or vacated), that the Mutual Building becomes occupied by Christman and this also excludes the Knapps Building altogether (thats why it's a 'practical' vacancy rate.)
*EDIT:
I just noticed in a couple of press releases by Hobbs & Black that when they list other projects for the State they list the "expansion of the Anderson House Office Building," they say that in two press releases, both from August. I'm assuming this is just a typo or miswording, but they don't list other past projects for the state only other current ones so keep your eyes peeled on this.
Which press releases are you talking about, exactly? There are only a very few number of recent ones. I figure it's a typo or they simply mean the addition of the new tower to the renovation of the old BWL headquarters building.
Comments
The PSD director made an interesting comment also: "There are other projects in the works for the 200 South Washington block that will just add to the mix."
It also said that "Green expects to make an announcement on those additions by Jan. 1."
I like the new name for 206 S. Washington. It's an often used named, but will fit downtown great. I didn't get pictures of this, today, but I've done my first photo tour in a long time, and expect to post it today or tomorrow.
The Firm, formerly the Parthenon greek restuarant, is a new, upscale restaurant and bar that will include a dance floor. They've been working hard on this one for weeks now, and it will open by months end. Here's a story done on it recently The Firm - Lansing State Journal Story
http://www.thefirmlounge.com/
Michigan Restaurant Association Headquarters
Reutter Park
The completed and sold out first phase of Printer's Row in downtown Lansing's Cherry neighborhood.
http://www.printersrowlansing.com/
Printer's Row Phase II
The John A. Kerr House/Mansion built in 1860 is being renovated for office space for Printer's Row.
These are the "garden" condominiums of Phase II. These are really changing the feel of this neighborhood.
Sign
The CBD from Cherry Hill
Sparrow Hospital West Wing expansion - just one more floor to go, it looks like.
Random shot of Ressurection School further up Michigan, which is in the urban Ressurection Church complex along Michigan Avenue.
Campus Village II under construction right at the border of Lansing and East Lansing (but in East Lansing).
Sorry for the quality, the new University Village at MSU on Kalamazoo Avenue.
Coming back on the River Trail along the Red Cedar River, which fills incredibly natural despite being right in middle of it all.
One of the many bogs/lagoons on this part of the river. This is the lowest land in Lansing, and really shows how a lot of the area looked before it was developed.
Cedar Street Viaduct
BTW, if you could get some photos on the things I missed (i.e. Tavern on the Square, Ranney Building, University Center...), that would be great.
On the bad news side, the overall vacancy rate in the CBD was 18.9 %. 30.3% for class B and 52.9% for class C. However, those numbers lack any real importance as much of the class B space is in small buildings and houses, of the larger class B structures, the Hollister Building is going class A and the Mutual Building is going class A Institutional office, taking about 130,000 sq ft of the 260,000 sq ft of space off the market (and moving only 55k sq ft to class A). And when it comes to class C space, 180,000-190,000 sq ft of the vacant 199,000 sq ft is the Knapps Building. Taken into account all this, the CBD could easily have a practical vacancy rate of just over 10% by next year. Thats assuming that none of the Hollister building's 55k sq ft are leased, no other space is leased (or vacated), that the Mutual Building becomes occupied by Christman and this also excludes the Knapps Building altogether (thats why it's a 'practical' vacancy rate.)
*EDIT:
I just noticed in a couple of press releases by Hobbs & Black that when they list other projects for the State they list the "expansion of the Anderson House Office Building," they say that in two press releases, both from August. I'm assuming this is just a typo or miswording, but they don't list other past projects for the state only other current ones so keep your eyes peeled on this.
Romney Building 8/24/06
Military & Veterans Affairs 4/24/06