LANSING, Mich. — A major project to redevelop downtown Lansing was unveiled Tuesday by a local real estate firm with a $215 million price tag.
Gentilozzi Real Estate, alongside Detroit real estate developer and manager JFK Investments, showed off their "New Vision Lansing" project with Lansing Mayor Andy Schor at a press conference Tuesday morning.
Mayor Schor said that these projects will change Lansing's skyline by adding a 25-story, mixed-used tower, and it will make Lansing "the economic hub for mid-Michigan."
The plan is for a trio of development projects "designed to set Lansing’s course toward becoming a dynamic residential city," according to a press release.
The developments will include up to 450 residential units, parking, retail, office space, entertainment and an acre of outdoor areas and green spaces.
New Vision Lansing's project includes three property developments at Capitol Tower on the corner of Capital Avenue and Ottawa Street, Tower on Grand on Grand Avenue and connecting to the Atrium Building and Washington Square on the corner of Michigan Avenue and Washington Square.
“These projects will bring a new type of living to Lansing. True downtown core apartments, with styles for every taste, will offer a compelling argument to attract new residents and offer those that have lived nearby a new reason to come back downtown. We believe Lansing is ready for a new way to live and work,” said John Gentilozzi, vice president of Gentilozzi Real Estate, in the release.
Some of the funding for the project is coming from the state budget, which allocated $40 million.
“It’s time to invent downtown Lansing’s future, and the New Vision Lansing initiative is the game changer that is needed,” said State Rep. Angela Witwer. “These projects will set Lansing on a bright new path where people are eager to live and work downtown, and connect with one another, to create a downtown neighborhood, a community, a city. This year’s state budget provided an extraordinary, once in a lifetime opportunity for our Capital Caucus members to put Lansing first, and I am proud that we came through for our city at this time."
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