Lake Trust (re)invests with The Block in Lansing
LANSING, Mich. (10/29/14)--When Lake Trust CU, Brighton, Mich., moves its headquarters from downtown Lansing next year, as a parting gift, the $1.6 billion-asset credit union plans to leave the community with a new place to shop, eat, work and live.
A rendering of the proposed redevelopment of Lake Trust CU's current downtown building. (Lake Trust CU Photo)
The credit union announced this week that it will redevelop its old facilities into a new mixed-use project that could result in a $30 million investment and bring hundreds of jobs to the city (Monitor Oct. 27).
"We've been a part of this community for more than 50 years, and we're passionate about what happens here," said David Snodgrass, Lake Trust president/CEO. "This is a great opportunity for Lansing."
The mixed-use design for the building, called The Block, will be geared toward a younger demographic and will have a more walkable, neighborhood feel, with residential, retail and office uses all to be built on the ground floor.
There will also be space for a credit union branch.
"This is a non-auto-dependent, mixed-use development," said Paul Allen, a developer from Ann Arbor who's working with the Michigan Economic Development Corp. to design the project. "This 25 to 30 demographic is not into cars the way we are."
The 3-acre site currently houses the six-story office building, a smaller building that will be torn down and parking.