Things are really spiffing up around Lansing's
REO Town. And if everything goes as planned for Lansing developer Larry Nakfoor, the neighborhood is about to get even spiffier.
Nakfoor’s
Wenco Properties has a plan to develop the former gas station on the corner of Washington and Elm into a commercial site for restaurant, office or retail use.
Though a total estimate of the redevelopment cost won’t be known until the complete buildout plan is made for the future tenant, Wenco Properties intends to invest between $30,000-$40,000 on the exterior improvements to the building.
"This is a very visible corner property in REO Town," says Nakfoor. "Its renovation, along with the
Board of Water and Light announcement to invest in a new generation [natural gas power] plant are both evidence that REO Town is worthy of further investment."
Wenco’s investment, however, will hinge on the outcome of the property’s
Lansing Economic Development Corporation façade grant application, which will be reviewed Wednesday.
"We are optimistic we will receive approval," Nakfoor says. "But work can't proceed until we have."
According to Marchelle Smith of the LEDC, though approval will be in the hands of the LEDC’s Design Committee, the city shares Nakfoor’s optimism.
Nakfoor hopes that his project will continue the wave of good news coming out of the historic Lansing district.
"Anytime you have a commercial building renovation, the resulting investment represents additional tax base," he says. "The investment opens the door to additional jobs, and the possible addition of neighborhood residents and consumers."
Source: Larry Nakfoor, Wenco Properties
Writer: Natalie Burg, News Editor
Rendering: Studio [intrigue] Architects