Yes, the delay is due to the property acquisition phase and also the funding. The possibility of it being developed in two phases deals with the market demand and the funding.
I like C and E. I like E's rivertrail and winter garden plaza. I like C's building orientation.
I think there is something very interesting to call to attention or to predict. Recently The Pierce Company, the developers of this project, purchased the Chandler Crossings portfolio for about $100 million, making them the largest landowner in the East Lansing area. The number of student rentals in the development will be a decrease from the current number. Do you think it is a conflict of interest that the Pierce Company can effectively eliminate 2,000 rental units and stall the project, allowing them to inflate the prices for Chandler Crossings due to their now monopoly? The Chandler Crossings is about 2,000 UNITS in itself, and there are 2,000 RESIDENTS in the East Village area, all renters. This means there will be 2,000 displaced persons, forcing the demand much higher for places in Chandler Crossings. Maybe the City of East Lansing should question this conflict of interest here. Some may say it is just smart business, but I think there could be reasoning now for the Pierce Company to either purposefully delay the finishing of the construction or to even further limit the amount of student rentals in the development.
I don't see anything illegal. Perhaps, unethical. East Lansing doesn't have rent control laws, does it? If they do, this may be an issue. Still, it certainly couldn't hurt for someone to bring this up to the council attention. Someone could email the city council, if they'd like:
No, it's not illegal, but it definitely would unethical to do so. And East Lansing doesn't have rent control laws, but the general idea of rent control laws wouldn't work in this type of situation. Rent control laws work to keep the rent from increasing at a rate that his higher than inflation while the tenant lives in the property. Since many of these rentals are short term (1 year), a general rent control law would have no effect.
Dude, Jared, is that you in those pictures?? I've been in class with you at MSU, CSE 331 last semester. I'm the bald guy, (but I where a hat a lot). Weird...
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[ulist][li]Concept A[/li][li]Concept B[/li][li]Concept C[/li][li]Concept D[/li][li]Concept E[/li][/ulist]
I think there is something very interesting to call to attention or to predict. Recently The Pierce Company, the developers of this project, purchased the Chandler Crossings portfolio for about $100 million, making them the largest landowner in the East Lansing area. The number of student rentals in the development will be a decrease from the current number. Do you think it is a conflict of interest that the Pierce Company can effectively eliminate 2,000 rental units and stall the project, allowing them to inflate the prices for Chandler Crossings due to their now monopoly? The Chandler Crossings is about 2,000 UNITS in itself, and there are 2,000 RESIDENTS in the East Village area, all renters. This means there will be 2,000 displaced persons, forcing the demand much higher for places in Chandler Crossings. Maybe the City of East Lansing should question this conflict of interest here. Some may say it is just smart business, but I think there could be reasoning now for the Pierce Company to either purposefully delay the finishing of the construction or to even further limit the amount of student rentals in the development.
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And some larger better quality renderings:
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Stored on Flickr