Data demonstrates a significant need for residential housing stock in Downtown Lansing. Considering benchmarks in other downtown areas of similar size, Lansing is behind when it comes to available residential properties. There is notable market potential for capturing new renters and homeowners with new residential builds. The annual market potential for Downtown Lansing, projected for 2025, totals 1,143 owners and renters that could be captured with new builds. However, there is a need to take action in order to capture these new households that are moving into Downtown Lansing by building new units every year.
At this time, the study reveals that the most in-demand types of residential properties downtown are:
- Downtown lofts, walkups, and courtyard apartments: This includes medium-density multi-family rentals with adaptable open space, exterior entrances, or centered on a shared outdoor open space. Demand for this type of housing exceeds supply by 26%.
- Condo-style apartments and shared-entrances: This includes long-term, owned apartments with both private and hallway-style entrances. Demand for this type of housing exceeds supply by 15%.
- Townhouses, side-side, large porch, and vista view: This includes long-term, owned apartments and townhouses with emphasis on location-oriented amenities such as porches or views. Demand for this type of housing exceeds supply by 12%.
(Demand is based on the number of new households migrating into the Downtown Lansing study area each year.)
A robust, healthy downtown is necessary for the economic vitality of the entire region. Permanent housing for individuals who want to settle down in an urban environment for the long-term (rather than primarily transient-style options) would lay the foundation for new business development and amenities downtown.
Our goal is to build a space where many types of people can find the housing needed in a downtown environment. Thanks to its strategic location and environment, Downtown Lansing has already laid the foundation for a compelling, residential urban lifestyle that appeals to young professionals, families, and students. To further enhance this, a form-based code for new residential developments would contribute to a cohesive visual aesthetic downtown, further reinforcing a strong sense of place and blending with the existing skyline. When new, long-term residential properties are established, spinoff development would go on to transform Downtown Lansing, further improving walkability and accessibility of resources.