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  #281  
Old Posted Feb 1, 2018, 3:38 AM
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City Commissioners have approved the proposed $29 million in brownfield redevelopment incentives for Studio Park - the planned mixed-use movie-theater / high-rise development next to Van Andel. Sounds like things might start moving a bit more quickly now:

Quote:
Studio Park movie complex financing gets final nod from city commission
Amy Biolchini | MLive
January 31, 2018

GRAND RAPIDS, MI - The final vote is in the books from the Grand Rapids city commission approving a $29 million brownfield reimbursement agreement for a $110 million movie theater and high rise development downtown. The commission unanimously approved the reimbursement agreement at its Tuesday, Jan. 30, meeting. Jackson Entertainment LLC plans to start work on the development this year on two former city parking lots behind Van Andel Arena. The developer is expected to close on the property Wednesday, Jan. 31.

The first phase includes a nine-screen Studio C! movie theater, about 100 residential units, 32,500 square feet of retail space, a 140-room hotel, 30,000 square feet of office space, a parking garage and a public piazza. The second phase includes a $30 million tower...Kara Wood, the city's economic development director, clarified: "This is the single largest public-private partnership that we've ever worked on."...

Last edited by deja vu; Feb 1, 2018 at 11:01 PM.
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  #282  
Old Posted Feb 1, 2018, 3:59 AM
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A new veterans home is coming to Grand Rapids (pending final approval by the city commission). By the renderings alone, it looks like a thoughtful design. Four separate 'neighborhoods' will connect to a central community center that has an almost Usonian vibe to it:

Quote:
New $49M Grand Rapids veterans home will house 128 residents
Amy Biolchini | MLive
January 30, 2018

GRAND RAPIDS, MI - A heavily wooded corner at Monroe Avenue and Three Mile Road will soon be a construction site for the new $49 million Grand Rapids Home for Veterans. About 15 acres of the property -- owned by the veterans home for decades -- will be used to build a barrier-free campus that will house 128 residents.

The Grand Rapids Planning Commission gave its approval to the project Thursday, Jan. 25. The project will be before the full city commission at its Feb. 6 meeting for a final vote. The property was re-zoned by the planning commission to allow the project to move forward, changing it from Modern Era Neighborhood-Low Density Residential to Special District-Planned Redevelopment District...












Images Source: MLive | Courtesy MVAA
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  #283  
Old Posted Feb 1, 2018, 10:19 PM
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Business US-131 between Cherry and Oakes Streets closed today in anticipation of the Studio Park project. There will be seven distinct phases of road work that will coincide with construction, as detailed in this article. Also, the land transaction for the roadway and the two parcels that will make up this development wraps up today, just one day after the final approval from the city commision:

Quote:
Downtown moves forward with Studio Park project
Justin Dawes | GRBJ
February 01, 2018

The land transaction for a major downtown development project is expected to be completed today. The City of Grand Rapids said today the Downtown Development Authority, or DDA, should finish the land transaction for the Studio Park project downtown, signaling the start of construction and changes to surrounding streets.

Jackson Entertainment is purchasing from the DDA two city parking lots — Area 4 and Area 5 — for $6,876,606 and the northbound and southbound U.S. 131 “business routes” between Cherry and Oakes streets, just south of Van Andel Arena...
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  #284  
Old Posted Feb 9, 2018, 9:31 PM
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So we've seen renderings for the theatre and hotel components of the large Studio Park development. Now more details have been unveiled for a seven story, 90,000 SF office tower component, which is being proposed by Franklin Partners LLC for the site. It sounds like the rents will be quite pricey for the area. At about $25 / SF, and with the developer seeking 30,000 SF commitments (i.e. 3 floors) from potential tenants, that's $750K for rent in downtown GR. This tower will go across from the recently-completed Arena Place development, and just south of Oakes St., across from the current parking lot. Chicago-based Wright Heerema is the Architect.

Quote:
Franklin Partners unveils plans for proposed GR office tower
Nick Manes | MIBiz
February 04, 2018

GRAND RAPIDS –– When developer Franklin Partners LLC brings its proposed seven-story downtown office tower to market in the coming years, it will offer tenants Class A office space that’s currently in short supply across the city. But interested users will need to get out their wallets if they want to occupy the high-amenity project, which will include ground-floor commercial space, a gym and a rooftop patio, according to plans released publicly for the first time and shared with MiBiz...

...The proposed seven-story, 90,000-square-foot glass and steel building will be located at the corner of Ottawa Avenue and Oakes Street SW as part of the mixed-use Studio Park development planned by Jackson Entertainment LLC. MiBiz broke news of the Grand Rapids and Oak Brook, Ill.-based real estate developer’s involvement in the project last April, but executives have been mum about the plans since then....


Image Source: MIBiz | Courtesy Rendering - Franklin Partners LLC / Wright Heerema Architects
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  #285  
Old Posted Feb 9, 2018, 9:54 PM
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This article takes a look at apartment demand in GR. In short, occupancy % has dropped off slightly, but it's due to increased supply, not reduced demand. High demand for rentals will likely continue through 2018, and plenty of units are still in the pileline. The demand is high across all ranges, from affordable to mid-rate to market rate / high-end. The article also has a construction progress photo of Third Coast Development's Diamond Place, which has a mix of affordable and mid-income units:

Quote:
Location factor: Strong apartment demand persists in GR, with thousands of units on the way
Nick Manes | MIBiz
January 21, 2018

GRAND RAPIDS — Demand remains strong for urban apartments, although occupancy rates for the burgeoning market have begun to slip as new units come online. That’s according to data presented last week at a commercial real estate forecast from the Grand Rapids office of Colliers International Inc., a commercial brokerage firm...

...As of the close of 2017, 1,025 new housing units were under construction around Grand Rapids, according to Colliers. Additionally, the firm was tracking 776 “prospective” units –– units that have been discussed but for which there have been no documents or filings –– and another 642 planned units for which documents have been filed with municipalities...


Source: Nick Manes | MIBiz
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  #286  
Old Posted Feb 10, 2018, 6:52 PM
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Originally Posted by deja vu View Post
The city wants to begin construction on the infrastructure to support its second, planned BRT route, from GVSU to the Medical Mile. Work on the proposed 13 mile route, referred to as the Laker Line, is being held up at the Federal level. The city has been waiting for a $56.4 million grant that was approved under the Obama Administration. They have tried contacting the current director of the FTA and received no response. The Rapid's first BRT route, the Silver Line, opened in 2013.
Just one month later, news now that the Federal Transit Administration just approved the almost $57 million grant to help fund the Laker Line. MDOT has also pledged $14 million, so $70+ million is now secured for GR's second BRT route. Construction for the required infrastructure should start this spring and conclude in 2020.

Quote:
Feds approve $57 million for new Grand Rapids bus line
Bryce Huffman | Michigan Radio
February 09, 2018

Grand Rapids can go forward with a $70 million transit project -- now that federal funding for it has been approved. The city can begin work on a new, rapid bus line connecting Grand Valley State University's Allendale campus to downtown...
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  #287  
Old Posted Feb 13, 2018, 6:01 PM
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MLive is reporting plans for a new hotel to grace the west bank of the Grand River, near Sixth Street Bridge. A 5 story, 110-room Staybridge Suites by Holiday Inn. The same company is also building a Tru by Hilton and a Home2 Suites on 28th St SE. Not the most compelling design ever for the riverfront. But not a blank box either -

Quote:
Another riverfront hotel coming to downtown Grand Rapids
Jim Harger | MLive
February 12, 2018

GRAND RAPIDS, MI - A Southeast Michigan hotel developer is planning to break ground on a new 110-room hotel on the west bank of the Grand River north of the Sixth Street Bridge. The five-story Staybridge Suites by Holiday Inn will be built at 942 Front Avenue NW, next to a 68-unit apartment complex under construction by the Woda Group, an Ohio-based developer of affordable housing projects...




Source: MLive |
Courtesy of Bacall Companies
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  #288  
Old Posted Feb 16, 2018, 6:56 PM
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There could be a new, 5-story, affordable housing apartment development coming to S Division. The project is in early planning stages nd will be geared towards senior living - that kind of infill would be transformative for this empty block:

Quote:
104-unit senior living development eyed for Tapestry Square
Jim Harger | MLive
February 16, 2018

GRAND RAPIDS, MI - The Inner City Christian Federation (ICCF) is hoping to add a 104-unit senior living project to its Tapestry Square development south of downtown. Sixty percent of the 5-story building would be set aside for affordable apartments while 40 percent would be set aside for market rate apartments, according to ICCF Vice President Ryan Schmidt, who presented the plans to the Downtown Development Authority on Wednesday, Feb. 14. The project will include 94 one-bedroom apartments and 10 two-bedroom apartments, said Schmidt. The ground floor would be set aside for a restaurant and other retail uses...
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  #289  
Old Posted Feb 19, 2018, 8:22 PM
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I was just looking back on the photo update on the previous page a lot of good projects completed, underway and in the planning phase.

It's fun to watch GR mature into a proper big city so to speak, its CSA has a population according to the 2016 estimate is at 1,443,508 with a 4.66% increase over 2010 if the numbers prove true Metro GR is bigger than Metro Memphis now on its way to pass Hartford and isn't far behind New Orleans.

For a variety of reasons downtown GR has always seemed small compared to other regional cities with a similar population like Dayton, not to mention metro areas with a similar population. However since the medical hill development last decade downtown has really been on a roll with things only seeming to pick up steam, i'll definitely continue to enjoy following the progress Grand Rapids is making.

The area really has a chance to capitalize on its strong economy and its proximity to Lake Michigan. That stretch of coast has some of the states premier beach towns like Saugatuck which was named by USA Today as America's best small coastal town in 2015 or the ever popular Grand Haven. Which like many other cities & towns in the region is frequented by throngs of beach-goers from Chicago, Detroit & Canada during the summer months.
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