April 15 2009 12:00 AM

Market Place

Status: Waiting for new City Market to be built Unlike most of the developments that are waiting on the economy, Pat Gillespie’s Market Place mixed-used condominium complex is waiting on something slightly more unpredictable: local government.

As you may remember, last summer Gillespie bought the Lansing City Market from the city to use the land to build Market Place. The city will use the sale money to build a new market. But! The Lansing City Market will not be torn down for Market Place until the new City Market is built.

Gillespie estimates that the site will be ready for construction around January 2010 — a three-month delay from original plans. Right now, the Lansing Entertainment and Public Facilities Authority is accepting bids to build the new City Market, and it still says groundbreaking will happen in the next few weeks.

Market Place would be two to four floors with a commercial tenant. Gillespie says that the residential parts of the development would be built first.

“The timing is questionable but we do think, start to finish, that everything will come along,” Gillespie said. “Right now, we feel pretty good about the plans we thought about and presented.

Hopefully they’ll come to fruition.”