Lake Trust Credit Union announced its big redevelopment plans in downtown Lansing. The development, estimated to create over $30 million in associated growth and hundreds of jobs in Lansing, is part of the Credit Union’s (re)invest program, which works to build more vibrant communities where Credit Union members live and work. The project will take place where the Credit Union’s current building sits, on the city block located at 501 S. Capitol, and plans include the surrounding area at the south end of Washington Square.
The redeveloped building and surrounding area, which will be called The Block, will still be home to a Lake Trust branch, and with its mixed use proposal, will add great value and convenience to the downtown area.
Lake Trust Credit Union is invested in Lansing and plans to stay involved throughout the whole process. As part of the effort, the Credit Union plans to maximize benefits the new investment will have in the region, by working with the MEDC (Michigan Economic Development Corporation), who has contracted Peter Allen of Peter Allen & Associates.
“This is the celebration of an exciting effort that will be a catalyst for millions of dollars of growth in the area,” said Lake Trust Credit Union President and CEO, David Snodgrass. “Lake Trust is invested in our city. We’ve been a part of this community for more than 50 years and we’re passionate about what happens here. This is a great opportunity for Lansing.”
Construction of any new buildings, in addition to a Lake Trust branch, would be expected in partnership with local developers. The new development will include mixed retail, office and residential spaces.
“We have a lot of fascinating concepts on the table,” Snodgrass added. “When all the work is done, this area will be an awesome place to live, work and play.”
