Former Lake Trust site proposed for new development with 160 apartments, commercial space
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LANSING – A $33 million project that will remake a block of downtown Lansing goes before the Lansing City Council on Monday.
Called the 500 Block Project, the mixed use development will start with renovation of the former Lake Trust Credit Union building at the corner of South Capitol Avenue and Lenawee Street and includes a second, new building at the corner of South Capitol and Hillsdale Street.
The total proposal includes 160 residential units and nearly 27,000 square feet of office or commercial space, according to a news release.
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The renovation of the former Lake Trust headquarters at 501 S. Capitol Ave. is slated to begin in November, with completion estimated by fall 2021. Construction of the new mixed-use building is slated to begin in September 2020 and be finished in spring 2022.
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The Lake Trust building will be converted into a mixed-use structure with 23,461 square feet of office/commercial space and 44 multifamily apartments on four floors.
The new building includes 116 residential units and 3,500 square feet of commercial space.
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The second phase is still tenative, but would take up the other half of the block fronting South Washington Square, downtown's main street.
Another old Lansing School District property is being reused:
Genesee Street School to reopen as apartments
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Developer Mike Markey shared plans for units as small as 280 square feet for tidy efficiency living to as large as 754 square feet for a spacious loft on the top floor.
The 1912 school building is listed on the National Park Service’s National Register of Historic Places. The listing helps preserve the old school as one of the last remaining examples from prominent local architect Edwyn A. Boyd, who designed many of Lansing’s public buildings between 1890 and 1940.
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