DTN Management Co. is the East Lansing City staff’s recommendation to East Lansing City Council for the project formerly known as City Center II.
East Lansing Communications Coordinator Mikell Frey said this does not necessarily rule out Lurvey White Ventures as a developer.
“City council is ultimately the one who makes the decision,” Frey said.
In a city document, staff explained their reasoning on how DTN Management Co. sets itself a part from its competitor. The financial review subcommittee found that DTN Management Co. has access to sufficient capital to complete the project without any city bonds, while Lurvey White Ventures is relatively new, and would have to significantly rely on public funding.
The staff added that DTN Management Co. has a positive track record of development in East Lansing. Along with student rental housing, the DTN Management Co. has developed a wide variety of projects, including commercial buildings and mixed market housing.
Lurvey White Ventures also has an impressive portfolio, but its youth might be a factor in completing a project of this magnitude, according to the staff report.
City Council will discuss the staff’s recommendation, as well as draft a development agreement at a work session 7 p.m. tomorrow at its weekly meeting.
The final decision of the preferred development partner will be made on Aug. 6 at a regular city council meeting.
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