UPDATE: EAST LANSING - The former Citizen's Bank located at the corner of Abbot road and Grand River now stands as a vacant building up for foreclosure. The building serves as the new $97 million dollar redevelopment project for the East Lansing City Center II.

The building is owned by private investment group, Strathmore Development Company, who heads the CADA Investment group.

They have a deadline of about another month I believe and that process, at least I would think on the foreclosure piece that will be resolved by that deadline," said Tim Dempsey, East Lansing planning and community development director.

The building is a definite eye-sore to the city and local residents say that the building could be utilized by the university.

However, the project's site plan will expire on April 6, and after that the private company will have to propose a new plan to the city for review.

What we want to do is encourage the private sector to make that investment and we'll try to assist and guide that process so that the community is the beneficiary," Dempsey said. "But ultimately we want the private sector to be the developer."


ORIGINAL STORY: EAST LANSING - A vacant building in East Lansing went into foreclosure before new plans for the property could be drawn out.