The Lansing City Council approved an $80.6 million retail center at its meeting Thursday night and two special bonds to fund the project.
The Lansing Towne Center Redevelopment District is a proposed 48.86-acre retail shopping center west of Kansas Highway 7. Demolition will begin immediately, said Jess Davis, lead developer of Lansing Towne Centre LLC, to make room for the two retail centers that will be north and south of Mary Street.
Lowe's Home Improvement will serve as the anchor of the district. The developers proposed 28 potential retailers to fill market holes in the city, including several national, big-box retailers such as PetSmart, Kohl's and Best Buy.
The city also approved the developer's request for tax increment financing and transportation development district bonding for the project. Davis said he would expect to issue the first bond in November.
The district is expected to be complete in the spring of 2008.