The redevelopment of Lansing's downtown YMCA could begin shortly, after the developer closed on financing, according to Julie Lawton-Essa of Y Site LLC.
Y Site bought the abandoned building, which was built in 1951, ten years ago. The cost of the project, to be called Metro Place, is estimated at $25m.
Y Site's proposal is the latest of several made to refurbish the building. Previous plans including a mixed-use project and an office building, but neither went beyond the planning stage. Y Site's refurbishing of the building, which offers 122,130 square feet of space, will include 145 loft apartments, of which 30 will be studios; 69 units with one bedroom and one bathroom; 29 apartments with two bedrooms and one bath; and 17 units with two bedrooms and two baths.
Rent will vary between $850 and $1650, according to Lawton-Essa. She added that the building will appeal to urban professionals and those who choose to move downtown to be closer to their jobs, as well as the city's amenities.
About 7,000 square feet of space will be designated for retail and commercial use, and will be at street level, as will some housing units. Retailers might include a dry cleaner, coffee shop, or fitness center. The site will also feature 154 parking spaces.
Projects like this can benefit if developers create illustrated Brochures of the property, showing prospective tenants the amenities available.
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