The state is giving Lansing developer Gene Townsend a financial boost for his proposed $11.9 million Ottawa Street project.
The Michigan Economic Development Corporation (MEDC) will allow Townsend to use $1.1 million in state and local property tax money collected from the project toward site cleanup and other project expenses.
Last year, Townsend announced his plans to put a mixed use development on a five-acre space in Downtown Lansing. The space is bound by Butler Boulevard, Ottawa, Sycamore and Ionia Streets.
The project will include 70 condos and a 5,000 square foot retail center. Townsend plans to use environmentally friendly building practices while constructing the mixed-use space.
The project is slated to break ground at the end of the year.
Source: Deb Whipple, Governor’s Office
Ivy Hughes, development news editor, can be reached here.
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