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Mural Painting at the Hunter Park Garden House- Photo ©Dave Trumpie
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Investment : Development News

592 Investment Articles | Page: | Show All

$22-$24 Million Restoration Proposed For 190,000 Sq Ft Knapp’s Building

Anyone who’s spent significant time in Downtown Lansing has at least mentioned the Knapp’s building, the iconic 1930s former department store located at 300 S. Washington.

After roughly eight years of vacancy, the Eyde Company, which owns the building, is attempting to restore the 190,000 squire foot structure—to the tune of $22 to $24 million
—and turn it into office space, retail space, apartments and a business incubator. A new restaurant is also a possibility.

“The Knapp’s Centre has been largely underutilized for the past 20 years,” says building developer Nick Eyde, who is the project manager for the development. “It’s steeped with history and is truly one of Lansing’s most beautiful and unique buildings. We’re thankful for the chance to finally put it back to prominent use.”

The project is contingent on the approval of more than $19 million in outside financing and tax breaks, but Mark Clouse, CFO and general council for the Eyde Company, says he’s confident the project will move forward with construction potentially beginning in the summer of 2011.

Clouse says the company has been working on the conception of the redevelopment for several years, but that the necessary pieces needed to renovate the building have fallen into place.

The recent Ignite 3.0 event at the Knapp’s emphasized resident interest in the renovation, he says.

“It showed us the amount of enthusiasm there is for the building and for being Downtown,” he says. “It did have an impact. It kind of solidified our willingness to make an investment.”

The first floor of the building is scheduled to be parking space. The incubator will take up an estimated 10,000 square feet of space. The upper floor is slated to be residential space. and the Eyde Company will move its 50 employees into new office space.

To read Capital Gains' previous article about the building's potential, click here.

Source: Josh Hovey, Rossman Group

Writer: Ivy Hughes

Firstbank Breaks Ground on New 2,000 Sq Ft Bank Building in Dewitt

Firstbank has began construction on a brand new building in DeWitt. Once completed, the building will be 2,000 to 2,200 sq. ft. in size. The current incarnation of the bank is located inside a rental space in a strip mall.

"The way the bank has grown," says Craig Bishop, president of Firstbank in St. Johns, where the main Firstbank office is located, "we felt comfortable in taking the next step and building a permanent home."

Between the cost of construction and land purchase, the new bank will cost $1.2 million to build. Firstbank in DeWitt currently has a staff of four and is looking for a fifth. The hope is that the new bank will be open by mid or late August.

"It will be full service," says Bishop, explaining that the new building will have drive-up services, a lobby and an ATM.

Firstbank started in St. Johns in June of 2000. "This bank [DeWitt] is part of Firstbank St. Johns," says Bishop, adding that Firstbank recently celebrated its 10th anniversary. "We hit a milestone of $100 million of business over ten years."

There are currently 53 Firstbank branches across Michigan, including Kalamazoo and Ionia.

Source: Craig Bishop

Writer: Daniel J. Hogan

Leslie High Graduate Donates $100,000 Toward New Area Nature Center

The Leslie Area Education Foundation (LAEF) is working on a brand new nature center.

"We were approached by a former Leslie High School graduate in Texas who wanted to memorialize their mother and sister," says Sue Lahtrop, President of LAEF, adding that the alumnus gave a gift of $100,000 toward the project. The proposed nature center would be built on land eight miles south of Leslie, which Lahtrop describes as "100 acres of beauty."

"We can impact more children for a longer period of time," Lathrop says of the educational nature center.

In addition to funds from the former LHS graduate, LAEF has received a $400,000 grant from the Michigan Natural Resources Trust Fund. LAEF applied twice before finally winning the grant.

The nature center will feature a 1,500 sq. ft. building as well as trails. K-12 students of Leslie will make field trips to the nature center, and Lahtrop said other schools can make use of the building for a rental fee.

Surveying of the grounds is complete and Lathrop says she hopes the construction will be put out to bid within 30 days.

"We hope to have it complete by mid-fall and have it ready for the 2010-2011 school year," she says.

The total cost of the center is estimated at $620,000.

Source: Sue Lathrop

Writer: Daniel J. Hogan

Grand Ledge Receives More Than $400,000 To Rehab Downtown Rental Lofts

A Michigan State Housing Development Authority (MSHDA) Rental Rehabilitation Project looks to increase the number of available apartments in downtown Grand Ledge. The apartments are located above businesses downtown.

"We're excited," says Kalmin Smith, mayor of Grand Ledge. The total funds are a combination of $323,500 in Community Development Block Grant Rental Rehabilitation funds and $140,000 in Leverage Funds from Grand Ledge businesses. The funds allow for 10 new apartments downtown.

"We're kind of bystanders," says Mayor Smith, explaining that, per the project requirements, a third party has to decide on the construction contracts, so "the city doesn't decide who does the construction."

A similar project took place in Eaton Rapids. "That attracted our attention," says Mayor Smith "And we liked what we saw."

The project is currently at the environmental review stage, in which any possible environmental impact issues of the rehabilitation project are determined. After this stage, funds will start being released. $35,000 will be allotted for each new apartment. One of the premier locations could have four or five apartments alone. Restoring older apartments is a possibility, but those projects will receive fewer funds.

"We'll have more people downtown, it will help to stabilize downtown and bring in more revenue," Mayor Smith says of the 10 planned apartments.

Grand Ledge's annual St. Patrick's Day Parade is this Saturday and its route goes past many of the proposed locations.   

Source: Mayor Kalmin Smith

Writer: Daniel J. Hogan

Salon 130 in Mason Expands to 3,000 Sq Ft, Offers New Services

Salon 130 in Mason recently held a ribbon cutting ceremony to celebrate an expansion, growing from "only 1,100 square feet to 3,000 square feet," says the salon's owner, Jenna Keller.

Located at 130 W. Ash Street in downtown Mason, the salon offers a range of services, thanks in part to the new expansion.  Salon 130 is now full service—offering nail services, skin care and massages in addition to haircuts and styling.

The expansion also allowed Keller to hire five more stylists. The salon now includes an 800 square foot spa area, which Keller described as a "very tranquil place to spend an hour or a day."

When asked how business has been, Keller did not hesitate to call it "explosive."

Keller said that in addition to luring in new clients, her regulars are trying more and more of the newly offered services.

An open house was held to celebrate the ribbon cutting of the new expansion and it was very well attended. One of Keller's make-up sales reps described the open house as one of the most well attended events they had seen in the past ten months.

"We are grateful to expand," says Keller.

Source: Jenna Keller, Salon 130

Writer: Daniel J. Hogan

The Tin Can Opens in Downtown Lansing

A "world class dive bar" has come to downtown Lansing: The Tin Can.  The bar, according to its website, specializes in "cheap booze, cheap food and cheap friends."

As the name states, the Tin Can only offers beer in cans — no bottles or drafts allowed. Co-Owner Dave Sell says bars like the Tin Can are gaining popularity on the West Coast, and that he wanted to be on the "leading edge" in Lansing.

This cozy bar, which holds 60 to 80 people, also offers hard liquor and chili dogs that Sell says are "Detroit style."

Sell also  plans on bringing in Better Made Potato Chips, another Detroit favorite. Sell says he wants to "keep locally minded," by offering chip dips and the like from local delis and restaurants. He also plans on buying food from the nearby Lansing City Market.

The Tin Can opened Friday, February 12th at 414 E. Michigan Ave. next to Harem Urban Lounge.

The space was renovated for the new bar, which includes a new build out. Several stand-up coolers are on site to keep the Tin Can stocked with plenty of beer.  Microbrews and craft brews are available along side old standbys like Pabst Blue Ribbon.

The Tin Can is smoke free and may eventually include live music.

Source: Dave Sell, the Tin Can

Writer: Daniel J. Hogan 

All Photographs © Dave Trumpie


Portable Feast Changes to Pastry Palette With New Owners, Name and Menu

Old Town’s Portable Feast is now the Pastry Palette, a restaurant that offers a similar menu to Portable Feast, but with a sweeter twist.

“I do have a lot more pastries and baked goods,” says Pastry Palette's Vicky Morgan. The new sweet treats include brownies and gourmet cupcakes. “There are similarities, but also differences.”

Morgan and her husband William purchased the business at the end of 2009. Due to Old Town’s 2007 IKEA makeover, which added a new flair to many of Old Town’s businesses including the former Portable Feast, renovations were unnecessary.

“We’ve always wanted to own a place like this,” Morgan says. “When we saw this was for sale, we just jumped at it. It was a dream come true.”

Pastry Palette is a traditional family business. Morgan even recruited her nephew Travis Dominguez, who was living in Tennessee, to help out.

Morgan wants to expand the company’s catering sector,which she says has been going fairly well.

“We’re hoping that’s the part of the business that really starts picking up,” she says. “I think that will bring us through the slow time of the year.”

Pastry Palette is located at 1216 Turner St.

Source: Vicky Morgan, Pastry Palette

Writer: Ivy Hughes 

All Photographs © Dave Trumpie


New 6,000 Sq Ft, High-End Men's Consignment Store Opens in East Lansing

East Lansing has a unique consignment store that includes a small lounge area, a large TV tuned to ESPN and a lot of suits.

The Man Store is a high-end consignment store for men only and includes name brand clothing, sporting gear and some jewelry. The 6,000 square foot  building was a Hollywood Video before Kellie Johnson opened The Man Store.

“I’ve never seen another men’s-only store,” says Johnson about what she perceives as an untapped market. “I certainly haven’t seen one around here.”

Johnson, who also opened four-year-old K2 Boutique, a high-boutique geared toward women, also offers style assistance.

“A lot of men don’t know how to dress or don’t take the time to dress and we help with that,” she says. “No one does that anymore.”

The Man Store is located st 2786 E. Grand River in East Lansing near Tom’s Party Store.

“We wanted to be on Grand River,” Johnson says. “Women will find K2, but for men it needs to be right there.”

Johnson is gradually adding a furniture consignment spinoff to the space next to The Man Store.

Source: Kellie Johnson, The Man Store

Writer: Ivy Hughes 

All Photographs © Dave Trumpie


Regency Beauty Scoops Up 6,361 Sq Ft Space on Lansing’s Westside

Regency Beauty Institute is opening its fifth Michigan campus in Lansing. Plans are to renovate its 6,361 square foot space at 3415 W. Saginaw in time for March enrollment.

“We’re continually adding new campuses across the country and we’re always looking for communities where we think there will be demand for our particular approach to cosmetology,” says Paul Ariloff, vice president of marketing. “We don’t have any campuses in Lansing and this was a natural community to expand into.”

Regency Beauty Institute is a Minnesota-based cosmetology education company that has more than 62 campuses located in more than 15 states.

The school will bring some jobs to the area. Ariloff says the school will likely hire five to six local instructors and central staff for its March opening.

“For years the employment and growth in cosmetology has very closely mirrored population growth and often gets tagged as a recession-proof career,” Ariloff says.

Class sizes are dependent on enrollment, which rotates every four weeks for the full-time program. Ariloff says students are already showing interest in the Lansing school. The facility has two classrooms and a performance floor.

Source: Paul Ariloff, Regency Beauty

Writer: Ivy Hughes


Deaf and Hard of Hearing Association Moves to 1,600 Sq Ft Westside Location

The Michigan Association for Deaf and Hard of Hearing (MADHH) moved from Lansing Township to Lansing’s Westside at the end of 2010, a change MADHH Executive Director Nan Asher says will give members greater access to the association.

“Size-wise, it’s the same, but the floor plan is a little better,” Asher says about the 1,600 5236 Dumond Ct. location. “We’re hoping to expand our services at this location.”

The MADHH provides multiple service to those with hearing loss including parental group education and interpretation. Asher wants to expand services to include remote video interpretation for those residing in locations such as the Upper Peninsula.

“We’ll be able to handle more functions at a centralized location,” she says. “These groups are statewide and this relates to our mission to help people.”

Source: Nan Asher, MADHH

Writer: Ivy Hughes


Against the Grain Studio Renovates, Expands Two More Old Town Buildings

First there was 110 Grand River. Then 1220 N. Washington Ave. Now there’s 1221 Turner St.

In less than a year, against the Grain (atG) has opened three shops in Old Town Lansing. atG is a studio and sustainable millworks company that creates eco-friendly woodwork, flooring and furniture.

The company first moved from Eaton Rapids to 110 Grand River about a year ago. Now the nexus of the company’s studio space occupies 5,000 square foot on Washington Avenue. The third building, the 1221 Turner St. location, was recently acquired and will serve as a living showroom for atG work.

“I came down here for the community,” says atG's Jay Belous about his decision to move and expand in Old Town. “I really liked it down here and when we opened the small show room, the owners and the building owners really took to it.”

atG is renovating 1221 Turner, an 1,100 square foot space and future showroom. Belous says the company hopes to eventually open an industrial arts school in the area.

atG recently added a full-time industrial designer for interior furniture and is designing a sustainable bed and breakfast in Ann Arbor.

Source: Jay Belous, owner of atG,

Writer: Ivy Hughes


Downtown Lansing Advertising Company Creates New Online Subscription Business

Queue, a Downtown Lansing-based advertising company, just finished Advertising180.net, a site that offers online advertising how-tos for business owners who want quick, cost-effective advertising solutions.

Advertising180.net is a subscription service that’s run through Queue. Users have access to multiple four-minute videos about media planning, ad copy writing and other advertising components.

Queue Owner Lori Cunningham says Advertising180.net, a project Queue employees worked on for more than a year, is a way for the company to diversify.

“What we’ve found is that, as the economy shrank, and more and more people are being let go from larger agencies or media outlets like radio and TV, they’re starting their own businesses, so everyone seems to be a competitor,” says Cunningham.

Cunningham says many small businesses don’t have the resources to invest in advertising, but do have the ability to learn basic advertising principles.

“Everything’s on the website and it’s at their fingertips 24/7,” she says. “It really is an agency on-line for a low, annual subscription cost.”

The service costs $249 to $199 a year and gives users access to more than 20 videos. Cunningham says videos are constantly being added.

“This is very innovative,” she says. “We can’t find anything like it.”

Source: Lori Cunningham, Advertising 180

Writer: Ivy Hughes


Alma Doctor Buys and Opens 1,000 Sq Ft Animal Clinic in Stockbridge

After operating an animal clinic in Alma, Mich. for 16 years, Tom Armstrong decided to open a second location in Stockbridge.

Armstrong wasn’t looking to add a practice, but found himself purchasing a 1,000 square foot clinic that was closing.

“In going through it, my wife and I and [our] office manager saw some potential there to do some good things,” Armstrong says. “It would have been sad to see that practice go, and it seemed the community could support a practice so we sort of took it on.”

When Armstrong purchased the building, he hired a new staff and completely renovated the building.

“So far so good,” Armstrong says about business. “Anytime you’re starting what essentially amounts to a new venture you get a little worked up about how it’s going to go.”

Stockbridge Animal Clinic is a full service animal hospital and is located at 214 S. Center St.

Source: Tom Armstrong, Stockbridge Animal Clinic

Writer: Ivy Hughes


Simplified Tax Renovates Old Carnegie Library in Charlotte for Fifth Office

Simplified Tax’s new 3,600 square foot Charlotte location, as well its 15 new part-time staffers, will help the tax company get through the ensuing months of filing madness.

Simplified Tax opened first opened in Lansing in the late 60s and has since expanded to Owasso, Williamston and DeWitt. The 15 tax season staffers will be distributed across the branches.

“Over the years we’ve opened a number of satellite offices and we were looking for a new location west of Lansing,” says Ryan Lowe, Simplified Tax office manager. “We didn’t want to be in Grand Ledge or the west Saginaw area because it’s more suburban than Lansing. Charlotte is kind of its own community.”

Simplified Tax renovated the original Carnegie Library building in Charlotte before moving in, restoring the original woodwork and making improvements to the outside of the building. The library served as a law office before Simplified Tax took over.

“We’re growing and the service we provide is something that everyone needs,” Lowe says. “What differentiates us from national chains is that we’re quite a bit more private. When we meet with someone we meet in a private office.”

One third of the building is available for commercial space. Simplified Tax is located at 200 N. Cochran Ave. in Charlotte.

Source: Ryan Lowe, Simplified Tax

Writer: Ivy Hughes


Broads Donate Additional $2 Million to Growing Pot for $45 Million Art Museum

Eli and Edythe Broad contributed another $2 million to assist with the projected $40 to $45 million construction costs for the new Eli and Edythe Broad Art Museum.

The 46,000 square foot contemporary art museum will be located on the corner of Grand River Avenue and Farm Lane in East Lansing and is being designed by Pritzker Prize-winning architect Zaha Hadid. More than 69 percent of the three-level building will include gallery space.

The Broads have contributed $28 million to the project. Total private investment includes $33 million.

“Edye and I are pleased to expand our commitment to create a world-class art museum for MSU and the broader Lansing and central Michigan region,” says Broad. “This new museum, designed by one of the world’s leading architects, will become a contemporary art destination, and it extends our mission of enabling art to be seen by the broadest public.”

Michigan State University (MSU) will break ground on the project March 16. Construction will take an estimated 23 months, with a targeted opening of 2012.
 
Source: MSU
Writer: Ivy Hughes
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