Students could have more options when deciding to live off-campus, as the unused land behind Brody Neighborhood may see development in coming years.
Although the Comprehensive Development Agreement needs to be approved first by the Lansing City Council, the project would include a Hyatt Hotel , student housing, commercial space, market rate apartments and a public park.
MSU Board of Trustees member and developer Joel Ferguson and his development team, Ferguson Continental , agreed to invest $200 million in the former Red Cedar Golf Course .
Under the agreement Ferguson Continental could acquire the 58-acre property for $7.147 million .
Walking trails that connect to the MSU campus and a boardwalk that will connect the project to the Lansing River Trail will also be built.
“I’m so proud to be part of a project that will be a game changer for Lansing and Michigan Avenue,” Ferguson said in a press release.
Although a portion of the project, dubbed the Red Cedar Renaissance will go toward the creation of student housing , executive project manager Christopher Stralkowski said the developers are still working on the site plan and there is no estimate of the cost of housing yet .
Stralkowski said the developers decided to build on the land of the former Red Cedar Golf Course because of the location’s proximity to big real estate markets.
“Lansing is the state capital. And it is sort of central, located between Grand Rapids and Ann Arbor,” Stralkowski said. “You have one of the top universities in the country, (a) Big Ten university ... so there is an opportunity to attract young talent and keep young talent in the area.”
Lansing Mayor Virg Bernero said the developers helped bring momentum to an area that had long been a target for development.
“We have traveled a long road to realize the grand vision we all share for the Red Cedar Renaissance ... we begin the next leg of a remarkable journey that will change the face of the Michigan Avenue Corridor forever,” Bernero said.
About $76 million will be split between the city government and Ferguson Continental to build an elevated platform that will allow structures to be built on the land, which is considered a flood plain. A drain project will be designed and built under the supervision of Ingham County Drain Commissioner Pat Lindemann .
The sale of the land was approved by voters in the 2012 November Election — 67.5 of the residents voted yes.
