Didn't read the entire article, but the State News reports that a few EL residents, including an MSU professor, aren't thrilled with the way City Center II is progressing so far. The main issues are the acquisition of property, as well as the financing of the project.
Phil Bellfy, an associate writing professor at MSU, appears to believe $5.5 million in taxpayer money is going to the project inappropriately in the form of parking garage funding. Vic Loomis disputes this, and other claims, defending the integrity of the development.
If the city is going to own and operate the parking garage, I see no issue with this. The city should profit from it, I know Lansing does quite well on its parking lots and garages.
Forgot about this shot I took yesterday. The banner is located on the facade of the old Thai Hut. But hey, they're gonna get started soon! *nudge nudge, wink wink*:
I noticed in the East Lansing DDA minutes that Riverfront Bicycles will be extending their lease through October, 2011. They are located in one of the buildings where the parking structure will be built. The city did not have a problem with the lease extension.
Pope said Doug Cron advised her that Evergreen Cycles and Repair’s lease at 341 Evergreen ends on August 31, 2010, and they would like to renew their lease through October 31, 2011 because they don’t want to move in the summer, their busiest time.. Mullins said this would not conflict with the structure of the parking structure. The Board concurred.
Obviously this means that the city does not plan to get shovels in to the ground until at least November, 2011 for their part of City Center 2.
Stalled again. The State News is reporting that the August finance meeting between Chappelle and city officials has resulted in a date for demolition still not being set in stone for this project. Chappelle is claiming that acquiring HUD funding is the main hangup, and a strong demand for HUD, considering the economy, is the reason for the delay. I just hate to see prime downtown property continue to sit there with silly "Future Redevelopment Site" banners hanging from buildings that have been empty forever.
The article also mentions that the DDA has purchased land on Evergreen Avenue where the "ramps are located." I'm assuming that means where the ramps built as a portion of the project will be located?
What's particularly worrisome is that demolition is usually the first thing a developer does (often to the chagrin of the community) because taxes are less and fewer on a vacant piece of land. It shows me that maybe he hasn't even had enough cash on hand over these past few years to even pay for the demolition of the properties.
Demolition of an existing building also could be held up by any mortgage holders on the property. If there is any value in the building being torn down, the bank may not want it demolished until financing can be lined up for the new project - that way they don't end up with less valuable property as collateral. That said, given that these buildings have been vacant for awhile, who knows how much value is left to them.
It looks like this project could finally get off the ground, or the developer could just be blowing smoke to get an extension for the site plan and special use permit. I'm skeptical of this project my self, but I certainly hope it really happens this time.
Interesting that the photo the Lansing State Journal decided to post has a subtitle of July 28, 2008:
I hope that the project gets off the ground, but the news feels similar to the that which got published before the permit extensions went for renewal other times.
As I've noted many times before, there's not another project that I more desperately want to see get off the ground than this one. Downtown EL is really marred by that NW corner of GR and Abbot, and the sooner that changes the better.
Comments
Phil Bellfy, an associate writing professor at MSU, appears to believe $5.5 million in taxpayer money is going to the project inappropriately in the form of parking garage funding. Vic Loomis disputes this, and other claims, defending the integrity of the development.
The article also mentions that the DDA has purchased land on Evergreen Avenue where the "ramps are located." I'm assuming that means where the ramps built as a portion of the project will be located?
$97M City Center II project may break ground this year
I hope that the project gets off the ground, but the news feels similar to the that which got published before the permit extensions went for renewal other times.