Okay, so this thing has actually been under reconstruction for a few months, but I guess heavy construction is about to take place:
Quote:

Angela Wittrock
Construction underway at historic Knapp's building in downtown Lansing
By Angela Wittrock | MLive.com
December 4, 2012
LANSING, MI – To the untrained ear, the noise interrupting Tuesday's announcement by city and company officials – that that construction had begun on the redevelopment of the historic Knapp's building in downtown Lansing – might sound like a jackhammer.
To Lansing Mayor Virg Bernero, it sounds like progress.
Flanked by representatives from the Eyde Company and economic development officials, Bernero and the assembled group announced that construction had commenced on the $36 million redevelopment of the building.
"The building is a truly unique and historic structure. And it was such an important part of downtown landing that we're thrilled to turn it back into a hub of activity once again," Eyde Company project manager Nick Eyde said in a press release. The Edye Company owns the building and is serving as the project's developer.
Eyde compared the reconstruction process to restoring a classic car, saying the building would be "systematically disassembled and refurbished" before being put back together.
Construction is expected to be complete in 12 to 14 months.
...
Plans call for the restoration and redevelopment of the building at 300 S. Washington Square; the completed project will include 22 top-floor residential units and retail space.
The Eyde Co. will relocate its East Lansing headquarters to the building, and the Lansing Economic Area Partnership, or LEAP, will operate a fashion-focused business incubator, The Runway, out of the space.
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Quinn Evans out of Ann Arbor are doing the work (they did the restoration of the capitol). I'm trying to find out if they are going to replace the macotta panels with actual macotta or something painted to look like them. Technically, they must keep the exterior
looking the same, but I hope they don't try to cheat with cheap materials.
George Eyde (R) of the Eyde Company holds up the K after it was removed Tuesday marking the start of the restoration of the Knapp's Building in downtown Lansing by his company. At left helping is Chad Comps. Photo taken 12/4/2012 by Greg DeRuiter.