Calling it a milestone for downtown development, Lansing Mayor Tony Benavides signed off on a new $40 million downtown office and adjacent parking ramp.
Officials say the joint project between the city of Lansing and the Boji Group will give a much needed boost to the local economy. Officials say the framework of the deal was completed under the administration of former Mayor David Hollister.
The Boji Group will finance and build the new building adjacent to the parking ramp. The city will issue and sell $19 million in municipal bonds to finance the construction of the ramp.
The ramp will house more than 1,000 spaces and the new building will be 137,000 square feet. Construction, starting in three weeks, is expected to take up to 24 months.