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...
The East Village plan has been cut in half. Prime Housing Group, which owns most of the property east of Stoddard Ave has said it will not sell or participate in the project. The Pierce Company will continue with their plans but the number of housing units will be reduced from 1,300 to about 1,050, and the retail space will be decreased by 30,000 sq ft.
Although this changes the project, I fully agree with the Prime Housing Group in their decision to use their property as they see fit.
Some of the design elements, like the extended boulevard from Bogue to Hagadorn will probably still be included in the project though.
I doubt their holding out is noble in it's motivation, I think they are simply waiting for East Village to get built and hope for higher property values. It's a gamble, but it could potentially pay off big.
Them holding out though is a huge win for any of the property owners that were east of Stoddard that also didn't want to be a part of it. The flower shop on the corner of Hagadorn and Grand River has complained about the project, and until now, it seemed like their voice wasn't loud enough.
I color coded the second picture to show the different parts of the project that will be built. The green will continue, but the red will not. In the first picture, it is everything to the right of the circle drive.
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Stored on Flickr
And some larger better quality renderings:
Stored on Flickr
Stored on Flickr
Although this changes the project, I fully agree with the Prime Housing Group in their decision to use their property as they see fit.
Some of the design elements, like the extended boulevard from Bogue to Hagadorn will probably still be included in the project though.
Photo taken by Fran Wilcox for the Towne Courier
Photo taken by Fran Wilcox for the Towne Courier
I color coded the second picture to show the different parts of the project that will be built. The green will continue, but the red will not. In the first picture, it is everything to the right of the circle drive.
My photo page on Flickr