Park Place - East Lansing

[RustTown]

Right next to Park District is proposed Park Place.  Plans were presented to the DDA (Downtown Development Authority) - who owns the land the developer wants to develop - last Thursday.  The project hit the LSJ this morning:

Developers want to bring apartments, movie theater to downtown East Lansing
 

Quote

 

EAST LANSING — Developers want to build two new high-rises in downtown East Lansing and a movie theater, as well.

Okemos-based Vlahakis Companies and Royal Properties of Champaign, Illinois have proposed two buildings near the corner of Abbot Road and Albert Avenue that would hold 235 apartments and 28 condos.

The new project, called "Park Place" would be a mix of studio, one-bedroom and two-bedroom units. Preliminary plans also call for automated parking and retail and office space.

The developer would tear down the current Dublin Square building and reincorporate the bar and restaurant into a new building.

 

Park Place 1 would be a 13-stories and include a level of underground parking, ground floor commercial space, office space on the second floor and then apartments and condos above.  Park Place 2 would be a 10-story building with a theater on the ground floor, then some levels of automated parking above, and apartments above that.

Park Place 1

Park Place 2

The developer formally wants to submit the plans for the approval process by the end of the month.  However, even if the DDA doesn't take him up on his offer to help them unload this land, he will develop the Dublin Square site on Abbot, which he owns.

[RustTown]

This one seems to be moving tentatively forward.  Vlahakis has submitted a letter of intent to the DDA to buy the properties that would make up the project.  The DDA has many concerns, but they are doing their due dilligence on this one to see if they can make this purchase agreement work.

City Memo:

http://eastlansing.granicus.com/MetaViewer.php?view_id=2&event_id=414&meta_id=68441

Letter of Intent:

http://eastlansing.granicus.com/MetaViewer.php?view_id=2&event_id=414&meta_id=68443

Draft purcahse and sale agreement:

http://eastlansing.granicus.com/MetaViewer.php?view_id=2&event_id=414&meta_id=68586

The city/DDA is underwater on these properties, which is why there is pressure to unload them.  At the same time, they don't want to be taken as suckers.

[RustTown]

This proposal was formally submitted on the 12th during a work session of the East Lansing City Council and the Downtown Development Authority (DDA) unanimously approved the purchased agreement for the DDA land the following day.  However, the City Planning Commission rejected the request 6-2 that's a part of this proposal to change city ordinances that would allow for the height increase that is needed to make this feasible.  I guess we'll find next month who the city sides with, though it sounds like those city councillers who also sit on the two boards are supportive of the height increase, so it sounds like the council may side with the DDA over the Planning Commission.

The proposal has expanded to two 14 story buildings, which the smaller one facing the parking being tiered so that it's Park Place West (formerly 1) is still 10 stories, but with 4 additional levels stepped back.

It appears they've more condos at the top of Park Place East (fomerly 2) and some more apartment units on the other.  The development still includes a 12-screen movie theater in Park Place West with automated parking above the theater.  Park Place East also has automated parking, but it will be underground.

All in all, this has gone from 235 apartments and 28 condos to 410 apartments and 80 condos.