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^ The Promise has definitely helped this area, especially since they have opened up the tuition reimbursement to be for any higher education school in the state, public or private. Some of my friends have children who constitute the first "graduating" class of this program - in other words, they have gone through all 12 - 13 years in the program and now in their 1st or 2nd year of free college. It seems to have worked well for them, freeing up funds for other things like debt reduction, home investments, vacations, retirement, etc.
But the K-12 system their kids had to go through is definitely not the best, especially the high school program, which still has higher-than-usual instances of truancy, violence, drop-outs, student homelessness, etc. School Choice helps, because folks can pick and choose which school buildings their child(ren) attend(s) within the district, for the most part. But you basically only have two high schools to choose from, and both have been riddled with challenges. The Promise is great, and it definitely attracts and retains people, but it is not a magic button for curing other systemic issues within the district and the city. The more rural districts that surround Kzoo (in particular Portage, Mattawan, and Gull Lake) are all very highly ranked districts in the state, and they compete with each other for families, students, funding, etc. who may otherwise be attracted back to the urban core. These districts tend to be building and refurbishing facilities at a much quicker rate than Kzoo. Anyway, interesting article. And some quick updates from Friday. Rose Street Market / Future Hilton Garden Inn - still not much to see, but a perimeter fence is up. I want to find out what the timeline for this redevelopment is, and especially for the adjacent Home 2 Suites, proposed at 8 stories (which would go right in the area that the fence encloses) https://hrss4g.sn.files.1drv.com/y4m...&cropmode=none 100 E Water St / Catalyst https://hrtbha.sn.files.1drv.com/y4m...&cropmode=none https://ghtbha.sn.files.1drv.com/y4m...&cropmode=none https://ibtbha.sn.files.1drv.com/y4m...&cropmode=none Bronson Cancer Pavilion - foundations and below-grade work moving along. https://hbtbha.sn.files.1drv.com/y4m...&cropmode=none Bronson Labs Building, aka 400 John St - I like the way this is turning out. Since we haven't seen a public rendering yet, it's been a bit of an unfolding surprise. Judging by that cornice line, they are going for a more traditional style to blend with the downtown mall architecture on the public side. https://gxtbha.sn.files.1drv.com/y4m...&cropmode=none (from behind) https://irtbha.sn.files.1drv.com/y4m...&cropmode=none Masonry brick face going up at 400 Rose. It looks like a thin brick product, but still true masonry / joinery. Still impressed with the speed of this development. https://hhtbha.sn.files.1drv.com/y4m...&cropmode=none https://hxtbha.sn.files.1drv.com/y4m...&cropmode=none https://fbtbha.sn.files.1drv.com/y4m...&cropmode=none https://frtbha.sn.files.1drv.com/y4m...&cropmode=none https://hbss4g.sn.files.1drv.com/y4m...&cropmode=none |
Just a few quick shots of 100 E Water St, which is really starting to feel big. And one shot - of a new project - that involves fitting out the upper two floors of the Jim Gilmore Building with new apartments.
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WMU's new south neighborhood dorm centerpiece is coming along. True to one of the stated goals of this campus re-imagining, the structure will have quite a presence from Stadium Drive. The steel frame seen below is roughly 1/2 of the building - there will be a second wing adjacent to the first (left of the current portion, relative to the drive-by perspectives below). Counting the bottom, semi-basement level, this is a 7-story dorm.
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Some encouraging news - Portage is considering the logistics that would accompany creating a real downtown, which it lacks. It would be driven by rezoning efforts to increase density and building height limits, particularly along the heavy commercial corridor of S. Westnedge Ave. I've dreamed of this.
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And south of Portage, in Vicksburg, big news for the Vicksburg Mill redevelopment. The MEDC just approved a huge brownfield redevelopment package to help fund the work, to the tune of $30 million in tax captures and benefits. So stuff might start picking up steam there. Quote:
https://vat6ea.sn.files.1drv.com/y4m...&cropmode=none https://sgt6ea.sn.files.1drv.com/y4m...&cropmode=none https://vqt6ea.sn.files.1drv.com/y4m...&cropmode=none https://swt6ea.sn.files.1drv.com/y4m...&cropmode=none Source: WWMT |
Some good news, and some bad news. First, the bad - another historic church structure bites the dust downtown. This is (now, was) a beautiful building. A lot of irony that the arts institute is the one responsible for obliterating it. It was pretty much a given that it would come down, after the city voted in April to block their own historic preservation commission from trying to save it (by making Bronson Park a local historic district). With progress comes destruction, and here's hoping that something meaningful can at least replace it in the near future (and not just another green space / parking lot).
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https://uasasa.sn.files.1drv.com/y4m...&cropmode=none https://uwsasa.sn.files.1drv.com/y4m...&cropmode=none https://uqsasa.sn.files.1drv.com/y4m...&cropmode=none https://vgsasa.sn.files.1drv.com/y4m...&cropmode=none https://vwsasa.sn.files.1drv.com/y4m...&cropmode=none Images Source: WWMT | Jake Berent Now, the better news - just a stone's throw away from the church demo, the first (and anchor) tenant, Chemical Bank, has opened its doors in The Exchange. Quote:
https://swrfna.sn.files.1drv.com/y4m...&cropmode=none Image Source: Facebook | Cailey Rainey |
Just a smattering of some local news - much of it transportation and infrastructure related.
1. I-94 will be widened from 2 to 3 lanes in each direction for a remaining portion that runs through Kalamazoo and Portage areas. Quote:
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(Source: City of Kalamazoo Development News BUlletin) 4. WMUK issued a short, but thought-provoking, article about the housing situation in SW Michigan, and how construction of new market-rate, or above-market-rate housing, can have a ripple effect on affordable housing. I'm not fully convinced. Quote:
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WTF is wrong with Kalamazoo? Do they just hate all old buildings?
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I read a while ago that Kalamazoo is the smallest city in Michigan with a full-time, fully-staffed Historic Preservation Commission. I don't recall the source, but I think it was credible. But despite continuing to fund this commission, the city commissioners have repeatedly squelched any efforts by these staff to conduct historic surveys and encourage formation of local historic designations, at least in recent memory. Some key examples besides this church are the other church on Bronson Square (302 Academy), the soon-to-be-demolished remainder of the Congregation of St. Joseph Motherhouse and support structures (aka former Nazareth College campus), and the Fountain of the Pioneers. WMU's original East Campus also comes to mind, but the University follows different rules. It is really disheartening. The ones behind demolishing these structures are institutes of learning, churches, and arts organizations. You'd think all of these groups would be advocates for preserving history. I know that members of the KHPC (Historic Preservation Commission) are disheartened as well; but they are limited in what they can say publicly in opposition to the powers that be. They are fine people who care about the historic urban construct of the city, and they are not on board with the commissioners' decisions. The city commissioners voting to silence their own staff are too cowardly to speak up against any act of destruction that would be misconstrued as too controlling of private or public use of funds. And it's not even as if these structures are being replaced with higher / better uses. By and large, they are being converted into "green spaces". Woohoo. |
Related to the local widening of I-94 from 4 lanes to 6, MDOT has issued a drawing of the proposed reconstruction of the I-94 / Portage Street interchange. It will drastically change the flow of traffic at this junction, definitely for the better. They are basically going to "Westnedge-ify" this interchange, copying (more or less) what was done at the heavily trafficked Wesdnedge interchange, just one exit further west (Exit #76). Key to the alterations will be dedicated left turn lanes at traffic lights underneath the freeway overpass, thus eliminating some confusing Michigan lefts and complicated signage for getting traffic onto the freeway from Portage and Kilgore. The project will also entail the modification of Kilgore Road and Kilgore Service Road, including the removal of the stretch of Kilgore that currently connects from Portage to the Service Road. It all results in a more functional, more common, and more familiar setup.
This is an exciting, much-needed infrastructure upgrade for this growing area. The project is expected to start in the spring of 2021 and last until the fall of 2022. There's an open house on 8/21. It should be an easy one for MDOT to administer, at least in the sense that their regional office is immediately northwest of the project site, along Kilgore (also shown in the map below). Quote:
Source: MDOT |
I forgot to post this sooner, but Buddy's Pizza will be coming to Kalamazoo (well, Portage, technically) in 2020. There's lots of good pizza options here already (I think Erbelli's, Sub Station, Bimbos, BC Pizza, and Kazoopy's are my top 5, currently). But after not having had Buddy's in years, I miss it, and am excited for it to be here soon.
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Happy Labor Day! in celebration of all of the construction, engineering, and architect-ing labor that this area has witnessed recently, here's a big photo update of things happening across Kalamazoo and Portage (taken over the past 2 days).
The Exchange - mostly done, still wrapping up. https://u4pbea.sn.files.1drv.com/y4m...&cropmode=none https://uypbea.sn.files.1drv.com/y4m...&cropmode=none https://vipbea.sn.files.1drv.com/y4m...&cropmode=none https://sipbea.sn.files.1drv.com/y4m...&cropmode=none https://r4pbea.sn.files.1drv.com/y4m...&cropmode=none New Anchor Tenant Chemical Bank Branch is open on the first floor. https://uopbea.sn.files.1drv.com/y4m...&cropmode=none (well, it's closed today...) https://ui9sbg.sn.files.1drv.com/y4m...&cropmode=none https://t49sbg.sn.files.1drv.com/y4m...&cropmode=none We're ready and waiting for the next 15+ story tower to be announced...(yeah right) https://ty9sbg.sn.files.1drv.com/y4m...&cropmode=none Church of Christ, Scientist building is gone, thanks to the premier proponent of Art in the region (Kalamazoo Institute of Arts). https://to9sbg.sn.files.1drv.com/y4m...&cropmode=none Many locals are not pleased. https://u49sbg.sn.files.1drv.com/y4m...&cropmode=none Meanwhile, the Park Club looks great. It recently shed most of its scaffolding, from multiple restoration projects. https://r49sbg.sn.files.1drv.com/y4m...&cropmode=none 400 Rose https://vi9sbg.sn.files.1drv.com/y4m...&cropmode=none https://uy9sbg.sn.files.1drv.com/y4m...&cropmode=none https://uo9sbg.sn.files.1drv.com/y4m...&cropmode=none I don't hate the materials on this one. https://top3pq.sn.files.1drv.com/y4m...&cropmode=none https://si9sbg.sn.files.1drv.com/y4m...&cropmode=none The Austin Sill House, which is one of the oldest standing homes in the city. It is supposedly being restored, but no activity in a long while (like, years long). https://t4p3pq.sn.files.1drv.com/y4m...&cropmode=none Lots of activity at the Bronson Labs project though. I like the more classic facade. https://uip3pq.sn.files.1drv.com/y4m...&cropmode=none It is a sleek compliment to the adjacent Art Deco, Albert Kahn-designed Gazette building. https://typ3pq.sn.files.1drv.com/y4m...&cropmode=none https://uyp3pq.sn.files.1drv.com/y4m...&cropmode=none Though not development related, this deserves a mention. The Norm Carver Gallery closed recently, after its namesake passed away. Norm was an amazing local architect, artist, photographer, and world traveler. The gallery was were he showcased and sold his photographs from extensive travels all over the world. Read about him here. https://u4p3pq.sn.files.1drv.com/y4m...&cropmode=none We will see what takes its place, but Norm will not be forgotten anytime soon. https://vip3pq.sn.files.1drv.com/y4m...&cropmode=none MOMA (Market On Michigan Ave) had its soft opening Thursday. It was open on Sunday so I stopped in. The owners are really excited to be part of the growing activity downtown. I think that this micro grocery / deli will fare well. The food offerings seemed high quality and reasonably priced. The deli side is where Biggby Coffee used to be, and they took over the adjacent, vacant storefront as well, which is where the main grocery is. https://r4p3pq.sn.files.1drv.com/y4m...&cropmode=none https://uop3pq.sn.files.1drv.com/y4m...&cropmode=none https://sip3pq.sn.files.1drv.com/y4m...&cropmode=none https://t4qydq.sn.files.1drv.com/y4m...&cropmode=none New Honor Credit Union branch going in on the first floor, with remodeled apartment space above. https://uiqydq.sn.files.1drv.com/y4m...&cropmode=none 180 E Water St. is making slower visible progress lately. https://tyqydq.sn.files.1drv.com/y4m...&cropmode=none https://toqydq.sn.files.1drv.com/y4m...&cropmode=none https://u4qydq.sn.files.1drv.com/y4m...&cropmode=none https://viqydq.sn.files.1drv.com/y4m...&cropmode=none This thing is going to have some interesting vantage points. Like from the Kalamazoo Valley Museum, and along Arcadia Creek... https://uyqydq.sn.files.1drv.com/y4m...&cropmode=none ...waaaay down at that small opening at the end... https://r4qydq.sn.files.1drv.com/y4m...&cropmode=none And a neat angle when traveling east along Water Street. https://uoqydq.sn.files.1drv.com/y4m...&cropmode=none Nearby, TowerPinster, which is the largest local A&E firm (and responsible for the previous project), is growing and expanding from its second floor office into the first floor (a space long-vacated by a failed Sushi restaurant). https://siqydq.sn.files.1drv.com/y4m...&cropmode=none https://t489mq.sn.files.1drv.com/y4m...&cropmode=none The dual Hilton Hotel Projects are both in-progress. I am glad to see that they are happening in tandem. Hilton Garden Inn will be the remodeled Masonic Temple. Home2Suites will be a new 8 story build, behind / connected to it. Foundations for that have begun, while demo continues in the historic building. https://ui89mq.sn.files.1drv.com/y4m...&cropmode=none https://to89mq.sn.files.1drv.com/y4m...&cropmode=none https://ty89mq.sn.files.1drv.com/y4m...&cropmode=none https://u489mq.sn.files.1drv.com/y4m...&cropmode=none https://vi89mq.sn.files.1drv.com/y4m...&cropmode=none https://sehrhq.sn.files.1drv.com/y4m...&cropmode=none Unfortunately you cannot really see too much through the windows along the public right of ways. https://uy89mq.sn.files.1drv.com/y4m...&cropmode=none The new 5-story Bronson Cancer Pavilion is still at foundations level, hopefully will start to go vertical soon. https://r489mq.sn.files.1drv.com/y4m...&cropmode=none https://uo89mq.sn.files.1drv.com/y4m...&cropmode=none This kinda looks like it will be a new access drive connecting Burdick to John, maybe related to the Cancer Pavilion access. https://suhrhq.sn.files.1drv.com/y4m...&cropmode=none I almost forgot about the Kalamazoo College Natatorium. It's still mostly just a hole in the ground at this point. https://si89mq.sn.files.1drv.com/y4m...&cropmode=none Drive & Shine, along West Main. I originally wasn't paying much attention to it, but for a car wash, this thing is getting huge. Upon closer investigation of other such facilities by this company (based in and around South Bend, Indiana), this place will offer quick lube service, as well as full interior and exterior detailing services. https://rkhrhq.sn.files.1drv.com/y4m...&cropmode=none https://r0hrhq.sn.files.1drv.com/y4m...&cropmode=none https://tehrhq.sn.files.1drv.com/y4m...&cropmode=none Spectrum is moving into the mobile cellular market and starting to fit-out retail spaces. This one is near Trader Joes, at The Corner@Drake development. https://tuhrhq.sn.files.1drv.com/y4m...&cropmode=none https://skhrhq.sn.files.1drv.com/y4m...&cropmode=none WMU's Arcadia Flats - now we can see the full scale of it. https://s0hrhq.sn.files.1drv.com/y4m...&cropmode=none https://qehrhq.sn.files.1drv.com/y4m...&cropmode=none New duplex units on the northside. There are three other finished buildings. https://quhrhq.sn.files.1drv.com/y4m...&cropmode=none The Creamery has begun to "go vertical." https://sujqea.sn.files.1drv.com/y4m...&cropmode=none https://rkjqea.sn.files.1drv.com/y4m...&cropmode=none https://sejqea.sn.files.1drv.com/y4m...&cropmode=none MI Department of Health & Human Services... https://r0jqea.sn.files.1drv.com/y4m...&cropmode=none ...it's whatever. https://tejqea.sn.files.1drv.com/y4m...&cropmode=none Not that anyone cares, but the new Holiday Inn Express & Suites is open (at Westgate). https://tujqea.sn.files.1drv.com/y4m...&cropmode=none And the still-to-be-completed, regular-ol' Holiday Inn is going up right across the parking lot. https://skjqea.sn.files.1drv.com/y4m...&cropmode=none https://s0jqea.sn.files.1drv.com/y4m...&cropmode=none And if you were worried, AVB has much more land still to give, for even more Holiday Inns (but no more TGIF - all that remains is the highway sign). https://qejqea.sn.files.1drv.com/y4m...&cropmode=none Moving on to the significant things in Portage. It's been a long while since I checked out the new Stryker HQ. Amazingly, the access roads were mostly unblocked and unguarded today - so I got some quick photos. https://qujqea.sn.files.1drv.com/y4m...&cropmode=none https://seihbg.sn.files.1drv.com/y4m...&cropmode=none https://suihbg.sn.files.1drv.com/y4m...&cropmode=none https://rkihbg.sn.files.1drv.com/y4m...&cropmode=none https://r0ihbg.sn.files.1drv.com/y4m...&cropmode=none https://teihbg.sn.files.1drv.com/y4m...&cropmode=none https://tuihbg.sn.files.1drv.com/y4m...&cropmode=none https://skihbg.sn.files.1drv.com/y4m...&cropmode=none Portage Central Middle School. It echos Portage Northern's new MS, with different materials. https://s0ihbg.sn.files.1drv.com/y4m...&cropmode=none https://qeihbg.sn.files.1drv.com/y4m...&cropmode=none https://suggpg.sn.files.1drv.com/y4m...&cropmode=none https://quihbg.sn.files.1drv.com/y4m...&cropmode=none https://seggpg.sn.files.1drv.com/y4m...&cropmode=none Portage Central's sleek, new McCamley Field https://teggpg.sn.files.1drv.com/y4m...&cropmode=none https://rkggpg.sn.files.1drv.com/y4m...&cropmode=none A quick drive-by of the new pavilion at Celery Flats. Appears to be getting lots of use. The outdoor seating in front is a nice touch. https://r0ggpg.sn.files.1drv.com/y4m...&cropmode=none |
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https://s0ggpg.sn.files.1drv.com/y4m...&cropmode=none https://qeggpg.sn.files.1drv.com/y4m...&cropmode=none Source: Joel Bissell | MLive I found this construction cam for the Kalamazoo College Natatorium - https://video.nest.com/live/WbDG7MS2CF https://sujxvw.sn.files.1drv.com/y4m...&cropmode=none It's a little old now, but there are some good aerial views of 400 Rose on AVB's website. More like this at the link. https://sejxvw.sn.files.1drv.com/y4m...&cropmode=none This is old too - from July - but a neat photo nonetheless of construction progress at The Mill at Vicksburg. https://rkjxvw.sn.files.1drv.com/y4m...&cropmode=none Source: Paper City Development Some (limited) photos are coming out for the Newell Brands Design Center expansion, recently completed in Kalamazoo. I was able to tour this space, but photos were strictly prohibited. They handle a lot of product development and research for many of Newell's iconic brands, including Mr. Coffee, Sharpie, Yankee Candle, and Elmers, to name just a few. https://r0jxvw.sn.files.1drv.com/y4m...&cropmode=none https://tejxvw.sn.files.1drv.com/y4m...&cropmode=none https://tujxvw.sn.files.1drv.com/y4m...&cropmode=none Source: Newell Brands | LinkedIn |
Thanks for the updates! Well-appreciated! Given the population and construction activity of this city compared to Los Angeles, shouldn't there be at least 50 more cranes in the air in Los Angeles to keep pace with Kalamazoo?
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https://seg84w.sn.files.1drv.com/y4m...&cropmode=none Source: Emil Lippe | MLive WMU Arcadia Flats Topping-Out https://qujxvw.sn.files.1drv.com/y4m...&cropmode=none Source: Emil Lippe | MLive https://sug84w.sn.files.1drv.com/y4m...&cropmode=none Source: Triangle Associates | LinkedIn The new Chemical Bank branch downtown recently opened, and it had its official ribbon cutting a few days ago. https://rkg84w.sn.files.1drv.com/y4m...&cropmode=none Source: Byce & Associates | LinkedIn |
In-between all of the rain these past few days, it cleared up long enough to document some development updates.
Bronson Primary Care - a new medical suites building, adjacent to one of their urgent care buildings - is being framed up. https://quhyza.sn.files.1drv.com/y4m...&cropmode=none Something is going on at the east end of Bronson Park. https://tug84w.sn.files.1drv.com/y4m...&cropmode=none Forms are being set, for piers to support...something... https://skg84w.sn.files.1drv.com/y4m...&cropmode=none Might this be for relocated statuary from the recently removed fountains? https://sugnqq.sn.files.1drv.com/y4m...&cropmode=none Not construction, but the Kalamazoo County Building just looked good with how the sunlight was hitting it. https://qug84w.sn.files.1drv.com/y4m...&cropmode=none The Exchange has signage now. https://s0g84w.sn.files.1drv.com/y4m...&cropmode=none The rear build-out of 220 W. Michigan Ave is complete. This enclosure contains a new elevator, egress stair, and garages, for apartment units above the first floor. https://qeg84w.sn.files.1drv.com/y4m...&cropmode=none All of Rose Street, north of Water St and Suuth of Kalamazoo Ave. is closed for construction. Presumably this is mostly related to the work at the former Masonic Temple building, as it is being converted into a new Hilton Garden Inn. https://segnqq.sn.files.1drv.com/y4m...&cropmode=none https://rkgnqq.sn.files.1drv.com/y4m...&cropmode=none https://r0gnqq.sn.files.1drv.com/y4m...&cropmode=none The first stair tower is going up, for what will become the new 8-story Hilton Home2 Suites. https://tegnqq.sn.files.1drv.com/y4m...&cropmode=none It will be immediately west of, and adjoining, the new Hilton Garden Inn. https://tugnqq.sn.files.1drv.com/y4m...&cropmode=none 309 North Burdick St. is undergoing an interior remodel. It used to contain yoga studios, and maybe some other spaces. I don't know what will go in there next. https://skgnqq.sn.files.1drv.com/y4m...&cropmode=none 180 E Water St - some of the fiberglass sheathing is starting to go up, on the first floor. You can start to get a sense of the profiles of the building now, with these sort-of framed portals. Formwork for the fourth floor of the mixed-use portion of this structure is also partly in place. https://s0gnqq.sn.files.1drv.com/y4m...&cropmode=none https://qegnqq.sn.files.1drv.com/y4m...&cropmode=none https://qegnqq.sn.files.1drv.com/y4m...&cropmode=none Honor Credit Union is close to complete. https://qugnqq.sn.files.1drv.com/y4m...&cropmode=none https://sehyza.sn.files.1drv.com/y4m...&cropmode=none https://suhyza.sn.files.1drv.com/y4m...&cropmode=none Not much to see, but the apartment fit-outs on the 2nd and 3rd floor of the former Jm Gilmore Enterprises building is ongoing. I think there will be about 20 units total, added to the downtown housing stock. https://rkhyza.sn.files.1drv.com/y4m...&cropmode=none 400 Rose. https://r0hyza.sn.files.1drv.com/y4m...&cropmode=none Bronson Labs - masonry approaching the top cornice on the south facade. https://tehyza.sn.files.1drv.com/y4m...&cropmode=none Not construction, but just a view of Kalamazoo's tallest - Skyrise Apartments. https://tuhyza.sn.files.1drv.com/y4m...&cropmode=none And finally, at the new Bronson Cancer Pavilion - what a difference 1 week makes! This was just foundations 7 days ago .Now steel framing is already up past the 3rd floor. https://skhyza.sn.files.1drv.com/y4m...&cropmode=none https://s0hyza.sn.files.1drv.com/y4m...&cropmode=none |
deja vu, did you take those photos last Saturday? I was took some similar photos of the Home2 Suites and Hilton Garden Inn project on Saturday.
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Here's a night shot of the Home2 Suites site, from the top of the Radisson parking deck, along with a view of 180 E Water St. and 2 shots of The Exchange. Taken Tuesday night on my phone. https://qeit4a.sn.files.1drv.com/y4m...&cropmode=none https://quit4a.sn.files.1drv.com/y4m...&cropmode=none https://sej4aw.sn.files.1drv.com/y4m...&cropmode=none https://suj4aw.sn.files.1drv.com/y4m...&cropmode=none And a photo from yesterday, of First National Bank's downtown office, which is receiving a major interior and exterior facelift. https://rkj4aw.sn.files.1drv.com/y4m...&cropmode=none And there's an update on the planned expansion of the Kalamazoo Farmers Market. It sounds like this might be gaining some momentum. Quote:
https://tej4aw.sn.files.1drv.com/y4m...&cropmode=none Source: Joel Bissell | MLive |
After a troubled few years, Arcadia Brewing officially closed on Wednesday, September 19. The short version is that the owner, Tim Suprise, was behind on mortgage payments and taxes for years. Rather than foreclose, the mortgage was "discharged" (translation - quitclaim deed in lieu of foreclosure) to First National Bank of Michigan, and the back-taxes and fees were paid (only ~$5,000). Now, FNB owns the building, but intends to sell it (and an adjacent parcel - likely for more parking) to a future restaurant owner that is already fitting out the space. The plan is to stop brewing beer and convert to a full-service restaurant. The restaurant is reported to be the second location for "The Grand Woods Lounge" - out of downtown Grand Rapids.
I went here once in the past 5 years. Compared to all of the other local offerings, it was underwhelming enough to never need to return. This could be perceived as "get out of jail free" card for the former owner, and a bad wrap for the BRA. The BRA is out a cool ~$173K (the outstanding principal balance on a loan), due to circumstances regarding how the original $200K loan was negotiated (the authority was in the third position behind other lenders involved, including the bank, so it was likely never to recoup any loss in the eventuality of a default or foreclosure). There are two articles below that recap the whole process. Are there any lessons that the city should learn from this? Quote:
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https://s0j4aw.sn.files.1drv.com/y4m...&cropmode=none Source: MLive | Courtesy Truscott Rossman |
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