"The fact that we could work with the Land Bank to reduce our debt services, meet the desires of our company and the incubator in this space, and make it palatable for everyone involved was incredible."
In December 2009, Lansing construction group Kincaid Henry purchased the vacant property at 934 Clark Street from the Ingham County Land Bank. Kincaid Henry wanted to transform the site from a once bakery/ printing company, to the official Kincaid Henry headquarters, and Lansing’s first business incubator called the Center for New Enterprise Opportunity, or the NEO Center.
“There was everything wrong with the building,” said Ryan Henry, co-owner of Kincaid Henry and the NEO Center. “It would have made complete sense to tear it down, but that’s the very reason we wanted to save it. The building represents who we are and what we do, urban revitalization and in-depth redevelopment.”
“Once we saw that we could do something really cool with this property and the Land Bank wanted to be behind us on the project we were set, we couldn’t have done it without them, “ said Henry.
The Land Bank worked with Kincaid Henry to structure a deal that allowed them to pay the Land Bank back for redevelopment costs through taxes.
“The fact that we could work with the Land Bank to reduce our debt services, meet the desires of our company and the incubator in this space, and make it palatable for everyone involved was incredible,” said Henry.