Project Will Generate Investment of $11 Million and Create 14 Full-time Jobs
Cinnaire has announced a $300,000 predevelopment loan to support the Allen Place Project, one of four community revitalization projects in Michigan approved by the Michigan Strategic Fund to help create the vibrant communities that attract talent through innovative place-making. By contributing to traditional downtown districts and revitalizing public space in geographically disadvantaged areas, these projects are helping to establish attractive places to live, work and play. The projects are also levering critical federal dollars to support economic development activity in Michigan. The Allen Place Project is expected to generate a capital investment of $11 million and create 14 full-time equivalent jobs, resulting in a $1.5 million Michigan Community Revitalization Program performance-based grant. Cinnaire Solutions, the in-house development division of Cinnaire, has partnered with ANC Holdings, LLC, to co-develop the project.
“The Allen Place Project exemplifies the kind of meaningful impact that happens when community members come together to be a force for positive change,” said Christopher Laurent, Cinnaire Solutions President. “The Cinnaire Solutions team is proud to work alongside our partners at the Allen Neighborhood Center to bring a community hub featuring an array of services to Lansing’s eastside. Once complete, the Allen Place Project will serve as a model for transformative community development.”
The development plans call for the rehabilitation of an existing two-story building that currently houses the Allen Neighborhood Center into a three-story mixed-use development in the City of Lansing. When completed, the Allen Place Project will include 21 affordable rental housing units, a health clinic, a food co-op specializing in locally grown/raised food products, an accelerator kitchen for food-based entrepreneurs, and increased access to healthy food options for area residents. Allen Neighborhood Center will continue to operate in the building, where it offers an incubator kitchen, community outreach, a health enrollment site, a farmer’s market, community events and fresh food delivery options.
The project is adding density to an underserved urban neighborhood, bringing new taxable value to the area. The project is also consistent with the MEDC Strategic Plan by transforming an underutilized property into a multi-use facility with placemaking and sustainable green features. The Allen Place Project will increase community services, providing much-needed rental housing, and supporting several dozen agribusinesses. The accelerator kitchen will also catalyze entrepreneurship opportunities and provide for equitable high-wage growth by supporting economically disadvantaged individuals.
The City of Lansing approved a 12-year Obsolete Property Rehabilitation Exemption Certification valued at approximately $900,000. The Lansing Economic Development Corporation also received approval of an $850,000 brownfield grant from the Department of the Environment, Great Lakes, and Energy. The project is also using a $9.5 million allocation of New Markets Tax Credits. The City of Lansing is certified with MEDC’s Redevelopment Ready Communities program and is also a Michigan Main Street Community.