The $15 million Stadium District property going up across the street from the Lugnuts Stadium in Downtown Lansing is catching the eye of everyone who drives by.
Nearly all of the structure's 25,000 feet of retail space on the first floor is filled. Fifth/Third Bank, the Lansing Chamber of Commerce, Briarwood Real Estate, a title company and a coffee shop have already committed to the retail space.
The high-end condos are going quickly too. The five potential buyers that have been shown the condos purchased them on the spot, says Gillespie Group President Pat Gillespie.
"In the next month, the face of Lansing will change," Gillespie said. Lofts and other attractive developments are being built that will bring a whole new set of residents downtown, helping address a long-standing challenge: how to encourage people to stay downtown and patronize local businesses after 5:00 p.m.
The fourth floor of the building will feature 20 loft condos selling for $175,000 to $225,000. The second and third floors will have high-end rental apartments ranging from $800 to $1,200 a month.
The Gillespie Group, which started the project in the fall of 2006, expects to finish by April 2008. The Stadium District development is on the corner of Cedar Street and Larch Street.
Source: Pat Gillespie, Gillespie Group
Developer: Gillespie Group
Builder: Fryling
Ivy Hughes is the development news editor for Capital Gains. She can be reached at
ivy@capitalgainsmedia.com.
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