New Markets Tax Credits
$8 Million
Total Development Cost
$35.7 Million
Project Partner
The Eyde Company
History
A Lansing Icon
Constructed in 1939 to house the main department store of the Lansing-based J.W. Knapp Company, the building was converted into space for state government offices in 1983 before becoming vacant in 2002.
Revitalization Efforts
New Life for Knapp's
The completed project contains approximately 101,000 square feet of residential space for 23 mixed-income apartments. 10,000 square feet serves as small business incubator space, and green features include low-flow plumbing fixtures, efficient MEP design, and use of durable-finish materials.
Community Impact
A Resource for the Community
The historically renovated Knapp’s Centre opened in 2014 and is a prominent historic Art Deco landmark contributing to the economic development of Lansing’s central business district. This rehabilitation has spurred additional public and private investments of office, retail, and high-end residential space in the Lansing market. At minimum, 20% of the Knapp’s Centre housing is rented to households with 80% AMI or less.
The rehabilitation of the Knapp’s Centre generated 125 construction
and 156 high-quality permanent jobs where 94% pay a living wage or more and the majority offer benefits packages.
The Lansing Economic Development Corporation operates the Runway in the Knapp’s Centre, a business incubator for the fashion industry where rising designers can study, create and display their work. In conjunction with Lansing Community College, educational courses are taught by college faculty.
125
Construction Jobs
156
High-Quality Permanent Jobs
20% of Housing
Households at 80% AMI or Less
101,000 Square Feet
Residential Space
10,000 Square Feet
Small Business Incubator Space
NTCIC & Progress
Economic Impact
The rehabilitation of the Knapp’s Centre was made possible, in part, by NTCIC through an $8 Million New Markets Tax Credit allocation.
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