Michigan Development News is a weekly series that features affordable housing and economic development-related news stories from across the state. Feel free to submit a story suggestion by leaving a note in the comments section.
LSJ: South Lansing closer to having center
Lansing City Council seems likely to pass a resolution that would further negotiations for a new southside community center to appear at Lansing School District's Hill Center for Academics and Technology, 5815 Wise Road.
Community Centers are a great way to bring folks together and establish active neighborhood participation, which is essential for local development. Hopefully southside residents will have a new center to enjoy in the not too distant future.
Capital Gains: Swedish Designer Has Big Plans for Old Town Lansing Business District
Old Towners made a persuasive video of their corner of the world, as did dozens of other communities across America. The top videos were put on IKEA.com, and the voting began. On September 12, representatives from the Canton, Michigan IKEA store came to town and announced that Old Town Lansing had won.
“I think that what really clinched it for us was that they saw the huge outpouring of public support for us, not just from Lansing, but literally we had votes from around the world,” says Jamie Schriner-Hooper, OTCA executive director. “They said they saw that this would just be a great community to work with.”
The ten lucky Lansing businesses? OTCA, Portable Feast & Friends, Such Video, The Sierra Club, Elderly Instruments, The Headroom Salon, Gone 2 the Dogs, Preuss Pets, Vernadine’s Soul Food, and Pablo’s Panaderia.
A nice follow-up on a story we've been following for a while. OTCA is a former Trust Fund borrower.
Saavy brides- and grooms-to-be are already booking their January 2009 weddings at the Westin Book Cadillac, the earliest date for which reservations are being accepted. However, if construction continues at its scheduled pace, it is likely that guests will actually begin checking into the hotel a few months earlier.
"We are on time and on budget for this project to open late September or early October," says Chris Ferchill of The Ferchill Group. "There's no reason we can't be right in middle of that."
Workers have enclosed the rear addition, which was necessary to the project for three reasons: the pool and jacuzzi, an accessible loading dock and a larger ballroom than the existing building's floor plan would allow.
More than 50% of the copper roofing has been installed, and most windows are in. "This building will be completely enclosed by the end of the year and will have permanent power by the end of the year," says Ferchill.
As we've noted before, Motown is becoming a popular travel destination, and the Book Cadillac Hotel is a great symbol for Detroit's economic revitalization. We'll definitely be keeping an eye on this project.
Rapid Growth: Grand Rapids metro ranks as one of nation's most affordable housing markets
Although the housing market across the country is in a recession, the Grand Rapids-Wyoming metro area ranks as one of the most affordable housing markets in the US.
According to excerpts from the story:
Indianapolis retained its standing as the most affordable major U.S. housing market for a ninth consecutive quarter in the latest NAHB/Wells Fargo Housing Opportunity Index (HOI).
"The third-quarter HOI reading indicates that 42% of all new and existing homes that were sold during the third quarter were affordable to families earning the national median income of $59,000," said NAHB President Brian Catalde. "This reflects a slight improvement in affordability from a year ago, when only 40.4% of homes were within reach of median income-earners."
The foreclosure crisis is certainly bad news for our economy, but the one silver lining is that it is finally bringing the issue of affordable housing to the forefront of national debate. We're glad to see some areas in Michigan are among the most competitive in the country, in terms of affordable housing.