A phoenix rises from mold: Capitol View, now leasing

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Two decades after a devastating fire made the building’s apartments uninhabitable, the complicated saga of Oliver Towers is receiving some much needed closure. The eight-floor apartment tower, since rebranded as Capitol View, has its renovations almost completed and is accepting rental applications, with approved applicants expected to move in between February and March.

The Eyde Co., which purchased the building in late 2015, took on a hulking behemoth of a project. Before-and-after photos reveal Capitol View’s metamorphosis from a dilapidated, deserted building into a sleek, modern apartment complex. The arduous physical labor that garnered these impressive results was handled by Lansing’s Wieland Construction.

“The damage and mold were substantial, If you were walking through the building you should have had a mask on,” Eyde Co. CFO and general counsel Mark Clouse said. “We took literally everything out. Everything you see here is brand new.”

The overall project ended up with a price tag of $14.7 million, with Eyde Co. receiving approval for a $2.4 million low-interest loan from the Michigan Economic Development Corp. and a $1.3 million Brownfield tax credit from the city, which has a duration of 12 years.

So what’s inside? Eighty-eight one-bedroom and eight two-bedroom apartments. One-bedrooms are available as a 442-square-foot studio apartment, or in larger sizes clocking in at 586 and 592 square feet. The two-bedroom option is 886 square feet. All units feature one bathroom. Pets are allowed, but there is a deposit and monthly fee. Rent begins at $900 for a studio and reaches $1515 for the most expensive two-bedroom apartments. And each unit features a full kitchen, along with a washer and dryer. Community amenities include a fitness center, bike storage, an indoor lounge and a courtyard.

If you’re a budding entrepreneur, Capitol View also has retail space available. The two partitions on the first floor of the building are 1,992 and 2,494 square feet. They can be leased individually, or as a joint unit.

Why the name change? The original Oliver Towers was subsidized housing for senior citizens; Capitol View is not. And considering the building’s address has changed to 313 Capitol Ave. from 310 N. Seymour Ave., rebranding just made sense, Clouse said.

The most important task? Preserving the vibe of the tower’s late-'60s, early-'70s architecture. While not deemed historic by any legal body, Eyde Co. didn’t want to paint over a building that’s contributed to downtown Lansing’s aesthetic since 1968. Noticeable attention to detail confirms this philosophy, such as the building’s courtyard restoration, which respectfully preserved its sycamore trees.

“The initial focus when we acquired the building was to honor the architecture. I think when people try to change the existing and turn it into something it’s not — it doesn’t look good,” Clouse said. “We asked our architects to improve what was here, not cover what was here.”

If you’re interested in living at Capitol View, applications are available at property management company Village Green’s website.

Capitol View Apartments

Now leasing

313 N. Capitol Ave., Lansing

villagegreen.com/lansing/capitol-view-apartments

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