In my opinion, it's because these aren't hotels for tourists. The extended stays are or will become housing for those who can't afford or won't get approved to rent an apartment. Further, groups such as the Lansing Housing Commission could give vouchers for these places.
The hotels are being built because the room occupancy rate is above the threshold at which people are willing to invest in hotels (at least it was whenever they were financed), I believe it's around 60% per articles on hotel construction in the area. MSU football gamedays are a big sell, besides that you have large numbers of visiting faculty, family and contractors; along with long and short term contractors at the state, GM, insurance companies, ect...
Besides, these places are way more expensive than rent would be. At least for the first 10 or 20 years of their life.
As far as the extended stay hotels, I have family who travel a lot as consultants and often utilized extended stay hotels if it was short term enough that a corporate apartment didn't make sense but it was longer than a typical hotel. It's definitely still more costly than an apartment, so I wouldn't say the initial intention is a work around for apartments of some sort. They're not really even laid out or suitable for apartments.
So, I guess I'd be surprised to see these hotels quickly turn into some low level apartments. That's just been my experience though. Never were they low income or people had vouchers...it was more for corporate folks.
It is great that we need more hotel rooms in Greater Lansing, I guess I just think what those views must be like for new visitors, I might think "what kind of a place it this?". I do understand the economics of the site, the growing market for extended stay rooms and that a lot of people never look out the window! I hope the new one looks nicer than the most recently built Holiday Inn? down the hill from the new site. One thing that may help the area is taking better care of the dust from the industrial sites, when I take the new Coleman Road to get over to Old Town [it is a nice well paved back way from EL], I see this little street sweeper making a dust storm and not clearing very much. Maybe they could spray some water/wash the streets, they look dirty.
LSJ reported that a judge halted the annexation vote from getting on the ballot. There's still a chance for it to get on if a legislative review approves it.
I noticed some activity at the long empty car lot on the south side of Michigan Ave. and Howard, crews were cutting down all the scrub trees and bushes that had grown over the years, and I could be wrong, but I think the rest of the little old houses had been boarded up. I am hoping that means something is going to go in there, also hoping it is not the self-storage place that was discussed here before. I think that I remember there was talk of a hotel and bus terminal for the Michigan Flyer/Indian Trails Bus Company. That would be so much better than a storage facility.
I noticed the same thing and am also curious if anything is going to happen soon. I only vaguely remember hearing about the storage facility, I hope it's not for that.
It's interesting that it's those guys involved in the property. Things there certainly look like something is going on but it could just as well be site clearing and nothing more.
Comments
Besides, these places are way more expensive than rent would be. At least for the first 10 or 20 years of their life.
So, I guess I'd be surprised to see these hotels quickly turn into some low level apartments. That's just been my experience though. Never were they low income or people had vouchers...it was more for corporate folks.