HomeMy WebLinkAbout1997 Summary Finding for Prudden Wheel Bldg (725 E Saginaw)as the N Precinct Location SiteRECEIVED
CCT 17 A"m 8:55
LANISING CITY CLERK
T-FT-17AT D, ff IN G S
for the Selection of the
Prudden Wheel Building
(725 E Saginaw)
as the
North Precinct Location Site
No
Six sites were toured.
Jack's Automotive (Cedar at Grand River)
Motor Wheel Building (McKinley at High)
Cedar Street School (North Cedar at Maple)
Estes Furniture (Grand River at Washington)
Bundy Furniture (North at Center)
Old Michigan Library (Michigan at Hosmer)
Three sites were toured and proposals requested.
Worthington Building (1611 N Grand River)
Eyde Building -new (Larch at Shiawassee)
Prudden Wheel Building (725 E Saginaw)
Tra
•Prudden Wheel Building is located near two neighborhoods
(via Oakland Ave. and Saginaw St.) that have highest
demands for police services than other neighborhoods in
North Precinct.
•Prudden wheel Building is located in the southwest corner
of an existing Community Policing Area.
•Prudden wheel Building is easily accessible to citizens
via major streets and CATA bus route.
•Prudden wheel Building appears to be the most centrally
located site in the North Precinct.
•Prudden Wheel Building is located in a neighborhood
consisting of 50-75 percent of housing units classified
as rental units.
*Number of rental units within a 0.5 mile radius is
highest for Prudden Wheel Building
•Prudden Wheel Building is located in a neighborhood
with lowest per capita income by census block group
(less than $8,000 income).
•Population estimates within 0.5 miles radius is highest
at the Prudden wheel Building
*Vacant residential units within 0.5 mile radius is highest
at the Prudden wheel Building
*Number of households having no vehicles is highest for
Prudden wheel Building within 0.5 mile radius
*Occupied residential units is highest at Prudden wheel site
within 0.5 mile radius
ErILWEMOT-P NIME URI WNIT IFFRNT Dff -NN G S
•Tax base growth for the City
• 110 Owner occupied condos
•Clean up of unused brown site
•Stability of neighborhood for future economic
development
Population estimates
Occupied residential units
Renter occupied residential units
Vacant residential units
Households having no vehicles
Estimated annual lease expense per sq.ft.
Estimate of annual tax revenue
5000
11 I
3000
2000
1000
Population Estimates Within
Within 0.5 Mile Radius
Prudden Worthington Eyde
Prudden Wheel Building
4012 Residents
Worthington Building
3 541 Residents
Eyde Building
2529 Residents
2000
Occupied Residential Units
Within 0.5 Mile Radius
CS
1500
1000
500
0
Prudden Worthington Eyde
Prudden Wheel Building
1604 Residences
Worthington Building
1336 Residences
Eyde Building
1162 Residences
Renter Occupied Residential Units
1200
1000
ma
1
400
200
RI
Within 0.5 Mile Radius
F
V�
Prudden Worthington
Prudden Wheel Building
1084 Rental Units
Worthington Building
727 Rental Units
Eyde Building
972 Rental Units
Eyde
Vacant Residential Units
Within 0.5 Mile Radius
t
Worthington
r
Prudden Wheel Building
*194 Vacant Units
Worthington Building
135 Vacant Units
Eyde Building
171 Vacant Units
Eyde
Households Having No Vehicles
Within 0.5 Mile Radius
500
400
300-
200
100
0
Prudden Worthington
Eyde
Prudden Wheel Building
557 Without Vehicles
Worthington Building
322 Without Vehicles
Eyde Building
518 Without Vehicles
20
15
M
5
X
Estimated Annual Lease
Expense Per Sq. Ft.
Prudden Worthington Eyde
Prudden Wheel Building
$14.91 Per Sq. Ft.
Worthington Building
$15.44 Per Sq. Ft.
Eyde Building
$17.68 Per Sq. Ft.
Prudden Building Redevelopment Proposal
725 Saginaw Street
Lansing, M[
Estimate of Annual Tax Revenue By Taxing Agency
Parcel
Description
City of
Lansing
Lansing
CommunitytY
Lansing
School
Lansing School
Ingham
State
County / C.A.T.A.
Estimated S.E.V.
Square Footage
17.1000 Mills
College
2.9355 Mills
Debt
0.8839 Mills
Operation
18.0000 Mills
Intermediate
4.8501 Mills
Education
6.0000 Mills
Airport
8.7623 Mills
TOTAL
110 Loft Condos
$5,360,000
(50 )
$45,828
$7,867
$2,368
$48,240
$12,998
$16,080
$23,482
$156,863
186,000 Sq. Ft.
LPD Office Space
$1,100,000
$18,810
$3,229
$972
$19,800
$5,335
$6,600
$9,638
$64,384
40,000 Sq. Ft
Climbing Gynt
$250,000
5,600 Sq. Ft.
$4,275
$733
$220
$4,500
$1,212
$1,500
$2,190
$14,630
MWC Office
Space
$2,400,000
$41,040,
$7,045
$2,121
$43,200
$11,640
$14,400
$21,029
$140,475
68,000 Sq. Ft.
Outparcel Develp.
$2,000,000
$34,200
$5,871
$1,767
$36,000
$9,700
$12,000
$17,524
$117,062
80,000 Sq. Ft.
TOTAL
$144,153
$24,745
$7,448
$151,740
$40,885
$50,580
$73,863
$493,414
*Taxed at 50% of S.E.V. For 12 Years.