Developer proposes 124-unit downtown housing project using 30-year brownfield capture
The Brownfield Redevelopment Authority and developer presented Brownfield Plan 90 to finance Capital Walk Apartments, a proposed 124-unit, $38.8 million project that requests up to $24 million in eligible reimbursement and a 30-year tax-capture period with a 10% pass-through to taxing units.
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The Lansing Economic Development Corporation and developer representatives presented Brownfield Plan 90 on Feb. 23, asking the Brownfield Redevelopment Authority and city council to consider tax increment financing (housing TIFF) to support a 124-unit downtown housing project (Capital Walk Apartments).
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