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Vision of Mt. Pleasant Center property development delayed

Highest and best use study results to be released early 2013

Release of the highest and best use study results on the Mt. Pleasant Center property, which was projected to take place earlier this fall, is being prolonged in order to allow for further research.

Global real estate company CBRE has been working on the study for several months as part of the project team for the Mt. Pleasant Center Project. Results of the study were projected to be released earlier this fall, yet it was determined that moving back the release date was necessary so that further research could be conducted.

Through the study, CBRE will identify areas of demand that may be applicable for future development of the property. In order to do this, CBRE has:

  • reviewed initial research provided by the City and obtained through other sources;
  • held meetings with key area stakeholders to encourage an open exchange of ideas about potential uses for the subject site, known and perceived gaps in services and industry from which the community could benefit, and projections of growth in existing business and industry inclusive of job creation and retention;
  • researched potential retail demand in the city and within an area consisting of Isabella, Gratiot, Midland and Clare Counties; and,
  • met with specialists in demand segments for the preliminary input.

Once the results of the highest and best use study are released, which is expected to happen in the first part of 2013, community outreach sessions will be held to engage residents in the redevelopment planning for the property.

“This is a very large site so the vision, ultimately created by combining demand analysis with community input, will need to be long-range with the flexibility to adjust to changing market conditions over time,” said Phyllis Riina, Vice President with CBRE, Inc.

Along with the progress on the highest and best use study, the planning team is currently working to understand and address environmental issues and challenges on the site. These issues and challenges will need to be taken into consideration in the timeline and planning for demolition of existing facilities on the property. A demolition timeline has not yet been determined, but it is likely some demolition will begin by spring 2013.