Get out your cash register. The development surge that started in
Lansing two years ago has hit the $700 million mark. In the last two
years, private investors invested more than $538 in new city
developments. The city fueled these investments by giving developers
more than $163 million in financial incentives to start their projects.
“We’re clearly on our way to making Lansing a world class city,” says Lansing Mayor Virg Bernero.
The $538 million in investments includes the $25 million Capitol Club Tower project, the $14 million Kalamazoo Gateway project and the new $24 million national 
headquarters of Lansing-based TechSmith. These financial estimates don’t include nearly $45 million that will be put into the city when developers put up the new Michigan State Police headquarters or the Market Place and Ballpark North projects.
Lansing Economic Development Corporation (LEDC) President Bob Trezise says the investment has created a positive business climate, which has prompted private developers to put even more money into the area.
Trezise and Bernero say the investment has created 2,839 jobs and prompted more people to stay in the area.
“We know that we’ve got the commodity that will sell,” Bernero says about the area.
Source: Virg Bernero, City of Lansing
Ivy Hughes, development news editor, can be reached here.
All Photographs © Dave Trumpie
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