Blank1, 2 or 3 bedroom models, supposedly.
----- Original Message -----
From: Healing Song Massage
To: msb-alumni@xxxxxxxxxxxxx
Sent: Saturday, January 28, 2017 11:25 PM
Subject: [msb-alumni] Re: Michigan School for the Blind project gets past hurdle
Yesterday, a friend of mine told me about this She asked if the apartments
would
be big enough. Itold her that they would be decent size.
Bea.
From: msb-alumni-bounce@xxxxxxxxxxxxx [mailto:msb-alumni-bounce@xxxxxxxxxxxxx] ;
On Behalf Of Steve
Sent: Friday, January 27, 2017 2:10 PM
To: msb-alumni@xxxxxxxxxxxxx
Subject: [msb-alumni] Michigan School for the Blind project gets past hurdle
I'd almost consider that senior housing area, it would be neat to live in the
Main or Old High School building.
Michigan School for the Blind project gets past hurdle Eric Lacy , Lansing
State
Journal
LANSING -- A developer's plan to revitalize the former Michigan School for the
Blind site recently took a step forward, with a mixed-income family housing
project winning approval from the Michigan State Housing Development Authority.
Mayor Virg Bernero's office confirmed Tuesday a development called Walnut Park
Apartments will begin construction this year. The project calls for 72 units
and
is expected to cost $12 million. The Walnut Park project secured a Low Income
Housing Tax Credit from MSHDA, according to a press release from Bernero's
office.
It is part of a larger project led by Indianapolis-based TWG Development that
also calls for 60 units of senior housing in historic
buildings on the site. TWG is still awaiting MSHDA approval of a tax credit for
the senior housing part of the plan.
"I am thrilled that TWG not only remained committed to investing in our
neighborhoods, but that they were also successful in securing the investment
tax
credit needed to make the development a reality," Bernero said in a statement.
TWG plans to apply on April 3 for a second tax credit with MSHDA that would
support the senior housing project,
according to the company's website. The senior housing project is called The
Abigail and would reuse two remaining historic buildings on the school site
which is located near Willow and Pine streets in the Lansing's Walnut
Neighborhood.
"TWG is determined to continue our efforts to redevelop these historic
buildings," a statement posted on the company's website reads. A message left
Tuesday with Joe Whitsett, TWG's CEO, wasn't returned. Whitsett said in a
statement he applauds the city's commitment to the overall project and believes
it will breathe new life into surrounding areas.
Whitsett told the Lansing State Journal last month that construction of the
overall project could begin in April so crews could "really go hard all summer
long."
The entire project's cost has been estimated at $24.4 million. Rent for the
units are expected to range from about $550 for a one-bedroom to $700 for a
three-bedroom. Tax credits for the overall project on the school site would
allow the developer to claim a credit against the tax liability annually for 10
years. The developer already has a 10% Payment in Lieu of Taxes (PILOT)
incentive for the project. The PILOT would allow the developer to pay the city
and other taxing entities 10% annually of the project's revenue over at least
15
years. Revenue would be generated from rent on occupied units after costs are
subtracted.
The developer's application for the PILOT didn't need City Council's approval.