Posted Dec 20, 2010, 3:53 AM
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Midwest Moderator - Editor
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Join Date: Jan 2002
Location: Big Mitten
Posts: 31,745
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Eastwood Towne Center to expand:
Quote:
Lansing Township plan new retail, parking space near Eastwood
Derek Melot • dmelot@lsj.com • December 19, 2010
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In April 2011, a decade after Lansing Township gave zoning approval for the "lifestyle" shopping center, the township will break ground on the next major phase of its development strategy: 120,000 square feet of commercial space and 1,300 parking slots on vacant land just north of NCG Cinemas. A fall 2012 completion date is the goal.
Borrowing $22 million via mostly tax-exempt bonds, Lansing Township is making a bold bet that the first decade of retailing success at Eastwood is the first of many to come.
Rather than just helping private development, Lansing Township, through its Downtown Development Authority, will be its own developer. The township will construct the store space, erect a 620-slot parking ramp and pave 700 additional surface parking spots.
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Additional retail development always has been part of the township's goal. The so-called Eastwood DDA actually encompasses property far beyond the confines of the eponymous lifestyle center. The new project actually is a smaller version of a previous proposal for more than $100 million in development that would have included a hotel, a much-larger parking ramp and two 12- to 15-story buildings.
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