Building on a solid 10-year foundation of planning and collaboration with the City of Lansing, two neighborhood-led stakeholder groups are poised to move forward with plans to improve key business corridors in the City of Lansing.
“Corridor improvement has been a goal since my campaign. We want walkable corridors that generate excitement, jobs and vibrancy at the entrances to the City of Lansing,” said Mayor Schor. “Upgrading the Michigan Avenue CIA and the Saginaw Street CIA will have a tremendously positive impact on our east side and west side corridors. These corridors, in addition to the work that’s already started on Grand River in the Northwest of the city and on South Martin Luther King Jr. Boulevard in the southwest of the city, will greatly benefit all who live in and visit Lansing!”
The Michigan Avenue Corridor Improvement Authority (MACIA) and the Saginaw Street Corridor Improvement Authority (SSCIA) both had their Development and Tax Increment Finance (TIF) plans approved by the Lansing City Council today. The plans outline the priorities and goals for the corridors and provide a revenue source to fund corridor improvements without raising property taxes or creating new taxes.
The improvements outlined in the plans are made possible by reinvesting the revenue growth from increased property values back into the same corridor where it comes from for the duration of the plans, which in this case is 15 years. These funds, when combined with other funding sources available to the CIAs, will be used to implement the plans priorities and promote additional development that in turn generates more revenue to reinvigorate the corridors.
LANSING — A developer anticipates converting the former Holmes Street School, which has sat vacant for nearly two decades, into apartments by spring 2021.
Developer Jeff Deehan anticipates construction will begin this spring and take less than a year to complete.
Deehan's company, Dymaxion Development, plans to rehabilitate the three-story brick building, create 41 studio and one-bedroom apartments and add landscaping to surrounding green space.
Lansing City Council approved tax incentives for Dymaxion's $2.28 million project late last month. The plan, pending approval from the State Tax Commission, will freeze the property's taxable value for 12 years, allowing developers to pay taxes based on the property's worth prior to rehabilitation.
Blighted properties are eligible for the tax exemption under Michigan's Obsolete Property Rehabilitation Act.
LANSING – Two ghosts of downtown Lansing’s past are returning in time for Silver Bells in the City.
Two bars, the House of Eden Rock and Edmund’s Pastime, will open tonight in the 200 block of South Washington Square.
Both establishments were once downtown mainstays, but Eden Rock closed in 2015 and Edmund's in 2014.
Eden Rock, a onetime fixture at 205 S. Washington Square, is hosting Mayor Andy Schor's post-Silver Bells party tonight.
Owner Jerome Abood said people can expect a lot to be the same but he's updated the interior and decor.
“It’s a little different,” Abood said. “It’s been updated a little bit.”
Edmunds Pastime, once on East Michigan Avenue, moved south, landing at 206 S. Washington Square. Edmunds closed its doors in 2014.
Tavern & Tap took over Edmunds former location in 2014. Edmunds is reopening in the former location of the Black Rose and Tavern on the Square.