That's a very plausible reason for the delay but I'm not so sure that I'd bet on interest rates getting any lower anytime soon.
On a side note: As a laymen but avid follower of economic and geopolitical news and events, I'm more lost than I've ever been trying to guess what might happen in the near future. If we can manage to stave off WWIII I think the macroeconomic outlook for the US, and for Michigan in particular, should be quite bright. There's a massive push to re-shore as much manufacturing and resource extraction as is practical that seems likely to accelerate in the coming decade or so, this at the same time many countries around the world are beginning to struggle due to low population growth and the fallout of the US's much-hyped dialing back of our roll as global trade police. Then throw in the biggie: the rise of AI and the absolutely incredible amount of change that it's likely to bring to EVERYTHING. The future is murky but logic says it should be bright imo.
Long story short: the economy may not experience a recession anytime soon and the economic cycle could very well be on a bit of a vacation. If so we're entering uncharted territory. Exciting times ahead.
I'm right with you. On the macro, we're getting a lot of conflicting indicators, making it difficult to navigate the markets a bit right now. I know we're off topic now, so I won't elaborate, but I agree with your assessment that it's hard to see quite where we are heading. I'm concerned that the rest of the decade will be a bit of a mess, followed by something great in the 2030s, but time will tell.
I may be wrong [I have been in the past!:}] but while driving past the new apartments on S Cedar downtown they seemed to be working on the overhead utility-lines in front of the new buildings. In my brief look as I passed it looked like they may be raising them above the top floor height.
Mt. Hope and Willow school rebuildings article in the news. They technically do not have to follow the zoning code but the Mt. Hope one is situated near to the street and is decently light on parking with contemporary recreation space in the rear. There was a neighborhood effort to save as many trees as possible but I think many were too old or in the area of disturbance. Willow hasn't submitted any plans yet.
McLaren Greater Lansing set to repurpose their legacy campus. I so hope they find some long-term users for this area as well as the one off Pennsylvania Ave. or break them up for housing if they are demolishing. I'm glad Child and Family Charities found some space after being rudely rejected from St. Casmir's redevelopment. The Planning and Zoning Office is discussing a change from institutional to industrial/employment zoning to help but it may not be useful or appropriate for the neighborhood. I think about the old Consumer's site they are leaving on Willow St. with these; very tough sites that leave sizable holes in the neighborhoods.
IMO The city is just going to have to figure out how to clean up the Consumers site enough for residential/mixed use, that land being redeveloped in the right way could be a huge positive for that neighborhood and the city. The large river front parcel at the end of Glenrose/Comfort is already a huge negative, another large river front property going the same way would hurt. Not to mention the RACER properties. Something's gotta give.
I have some level of faith that something good will happen with the Mclaren property, they're well built buildings with some quite new wings and a newish parking ramp. It'd be a perfect place for Neogen to consolidate all of their scattered operations, most of the old schools that they're in would be ripe for redevelopment into apartments. It'd be a win all around. Otherwise I think we'd be looking for a similar company from outside the area to use the property or a developer willing to make it into a multi-tenant building.
There's an LSJ article on upcoming developments in Lansing. Apparently the Gentilozzi projects will be seeking council approval "soon" and aim to start a 90 day brownfield clean up for the tower site in March. It's also mentioned that the new building by the Capitol will now be octagon rather than D shaped. The Ovation is mentioned as well, apparently major construction will start there soon with an opening possibly slightly delayed from early 2025.
Gentillozi is supposed to be slated to speak on their progress at the 1st Ward constituent meeting, January 6th - 10am, at the Allen Neighborhood Center.
I drove from Casa Nova [best pizza] down Wavery down to Saginaw and was disappointed to see that the Car Wash is still the only thing built on the golf course site so far, is that development still happening. [I know this is in the township] further down [in real Lansing] is when I was surprised to see the new condos on Saginaw Street. They look good. I was trying to avoid potholes so I did not notice any of the other developments that have been talked about east of MLK.
I just checked CPIX and the property isn't being marketed on there, I thought it was before. I can imagine demand not being off-the-charts over there but I can't imagine the best they could do is a single car wash. Something must be up.
A good article in the City Pulse today about the new development by Hepler next to Motor Wheel, as well as the NEZ proposal being put forth. It looks like this is repurposing the building attached to Motor Wheel that was commercial previously. I'm not sure if this ties into the other development at Penn and Saginaw but the NEZ would cover that and some other properties due to the way it is bounded. Honestly they could have had the eastern bound go all the way to Maryland ave to pick up that other block of warehouses to incentivize those being redeveloped into something more appealing, promoting increased density on this set of blocks.
The focus on being "green" is interesting, I hope it is legitimate and isn't just smoke and mirrors because it sounds cool in theory.
Comments
On a side note: As a laymen but avid follower of economic and geopolitical news and events, I'm more lost than I've ever been trying to guess what might happen in the near future. If we can manage to stave off WWIII I think the macroeconomic outlook for the US, and for Michigan in particular, should be quite bright. There's a massive push to re-shore as much manufacturing and resource extraction as is practical that seems likely to accelerate in the coming decade or so, this at the same time many countries around the world are beginning to struggle due to low population growth and the fallout of the US's much-hyped dialing back of our roll as global trade police. Then throw in the biggie: the rise of AI and the absolutely incredible amount of change that it's likely to bring to EVERYTHING. The future is murky but logic says it should be bright imo.
Long story short: the economy may not experience a recession anytime soon and the economic cycle could very well be on a bit of a vacation. If so we're entering uncharted territory. Exciting times ahead.
McLaren Greater Lansing set to repurpose their legacy campus. I so hope they find some long-term users for this area as well as the one off Pennsylvania Ave. or break them up for housing if they are demolishing. I'm glad Child and Family Charities found some space after being rudely rejected from St. Casmir's redevelopment. The Planning and Zoning Office is discussing a change from institutional to industrial/employment zoning to help but it may not be useful or appropriate for the neighborhood. I think about the old Consumer's site they are leaving on Willow St. with these; very tough sites that leave sizable holes in the neighborhoods.
I have some level of faith that something good will happen with the Mclaren property, they're well built buildings with some quite new wings and a newish parking ramp. It'd be a perfect place for Neogen to consolidate all of their scattered operations, most of the old schools that they're in would be ripe for redevelopment into apartments. It'd be a win all around. Otherwise I think we'd be looking for a similar company from outside the area to use the property or a developer willing to make it into a multi-tenant building.
https://www.lansingstatejournal.com/story/news/local/2023/12/26/major-developments-lansing-business-2023/71904440007/?fbclid=IwAR1kuIZw9ww4xXA2KfWXcUev1nejiDRrv46o6L5wi4xdTo5Ei1PH4lsYJCk
The focus on being "green" is interesting, I hope it is legitimate and isn't just smoke and mirrors because it sounds cool in theory.
https://www.lansingcitypulse.com/stories/what-is-the-wheel-district,82525