GRAND RAPIDS | Development Thread

[DetroitMan]

High-rise towers would bring 735 apartments to amphitheater, soccer stadium sites

Two residential and commercial towers, containing 735 apartments, retail and parking, would be built next to Acrisure Amphitheater and the proposed Grand Rapids soccer stadium under plans being crafted by Grand Action 2.0 and the Downtown Development Authority.

At this point, the buildings are still in the conceptual phase.

But a new city memo gives a glimpse of two projects that, if completed, would represent a $386 million investment, and — at 21-stories and 18-stories tall — add a new layer to the city’s growing skyline. The buildings seek to capitalize on the amphitheater and soccer stadium and further activate downtown Grand Rapids with more opportunities for residents, visitors and businesses. “I think we’ll be able to get it done,” Jono Klooster, interim economic development director for the city of Grand Rapids, said of the two housing towers.

The buildings were detailed in a memo from city staff to the Grand Rapids Brownfield Redevelopment Authority, which helps redevelop contaminated, blighted, or functionally obsolete properties. Grand Action is expected to seek a Transformational Brownfield Plan for the soccer stadium, amphitheater and the two commercial and residential towers.

A transformational brownfield plan would enable developers to capture a host of state and local tax revenue generated as a result of the development, thereby giving the projects a financial boost.

How much tax revenue could be recaptured hasn’t been finalized. But, when coupled with the demand for housing in Grand Rapids, those dollars would help make the projects feasible, Klooster said.

“The Transformational Brownfield plan … provides a significant amount of investment into the projects,” he said. “You’re well aware of the demand for housing in the community. I think riverfront property and downtown property adjacent to these sorts of entertainment facilities is going to be pretty attractive.”

https://www.mlive.com/news/grand-rap...ium-sites.html

[DetroitMan]

Bank accuses Sligh building developer of defaulting on $4M loan

The developer planning to transform the former Sligh Furniture Co. building into a massive mixed-use project is being sued for allegedly defaulting on a nearly $4 million commercial loan involving multiple adjacent properties.

Huntington Bank filed suit against JV SBAM SA LLC, which is registered to developer John Gibbs, on March 22 in the U.S. District Court Western District of Michigan. The bank claims that the LLC has defaulted on a $3.96 million promissory note, secured by a mortgage, that was executed on May 14, 2021 to purchase properties surrounding the former Sligh building.

Huntington Bank, Gibbs and the same investors named in the suit also are embroiled in a legal dispute in Detroit over a plan to convert the Park Avenue House property in the District Detroit area into a multifamily housing project, as Crain’s Detroit Business reported.

Gibbs is the co-founder of Detroit-based Sturgeon Bay Partners, which unveiled development plans in May 2021 for the Sligh building and adjacent properties located just south of downtown Grand Rapids. The developer’s plan for the Sligh building would include the former furniture factory as well as multiple properties spanning nearly an entire city block. lans for the property initially called for 753 apartment units, but were scaled back in 2023 to a site plan approved by the Grand Rapids Planning Commission. Most recent redevelopment plans for the Sligh building and surrounding properties included 438 apartments, self storage units, a 69-space parking garage, 298-space surface parking lot, 21,823 square feet of retail space and 35,937 square feet of public green space.

Huntington Bank is also requesting a court-appointed receiver for the properties at 440 Grandville Ave. SW (now Cesar E. Chavez Ave. SW), and 188-190 Wealthy St. SW. Doing business as JV SBAM SA LLC, Gibbs purchased the properties for $5.3 million on May 14, 2021, according to property records.

“We won’t comment on any pending legal matters, but we are confident in the path forward and remain excited about delivering a successful project to an important, evolving neighborhood of downtown Grand Rapids,” a Sturgeon Bay Partners spokesperson said in an emailed statement.

The lawsuit does not name the address of the former Sligh Furniture building at 211 Logan St. SW, which Gibbs purchased on Feb. 15, 2022 under a covenant deed.

https://www.crainsgrandrapids.com/ne...ng-on-4m-loan/

[deja vu]

Pretty impressive photos of some cantilevered concrete slab pouring, at the reimagined Lyon Square, from about a week ago, by Kent Companies -










Source: LinkedIn | Kent Companies

[deja vu]

Originally Posted by deja vu

Pretty impressive photos of some cantilevered concrete slab pouring, at the reimagined Lyon Square, from about a week ago, by Kent Companies -

As a follow-up to the previous post, here are the latest renderings of the $15 million, reimagined Lyon Square. It should be a pretty nice node / link between the hotels and DeVos Perfromance Hall / Place, once finished (especially when compared to the current scene) -










Source: LinkedIn | DGRI (with credit to: Progressive Companies)

[Velvet_Highground]

Nice

[DetroitMan]

Grand Rapids airport begins $135M terminal expansion

Gerald R. Ford International Airport has begun a $135 million project to expand its terminal and make traveling more efficient and convenient.

Business, county and airport leaders gathered Wednesday, April 10, for a ceremonial groundbreaking marking the start of construction on the airport’s “terminal enhancement project” that will expand the terminal to the southeast and add 175,000 square feet of new space. The project at the airport at 5500 44th St. SE in Cascade Township is expected to be completed by the end of 2027.

In the expanded and restructured terminal, all of the ticketing operations will be consolidated into one area, and the baggage claim area will be expanded and modernized, resulting in a more “intuitive flow” for passengers, said Tory Richardson, president and CEO of the Gerald R. Ford International Airport Authority.

“What the customer will see when they come up to the terminal building is a much more intuitive flow, so coming into the building all of the ticket counters in one area,” Richardson said, “and then, as people are leaving the building, baggage claim all in the same area with much larger, more appropriately sized baggage claim devices to accommodate the larger airplanes that we see in and out of here every day now.” Behind the scenes, there will also be a new automated system for getting checked bags from the counter through Transportation Security Administration (TSA) inspection and then onto the plane. That system accounts for $80 million of the project’s $135 million price tag. TSA will put $30 million toward the new system.ichardson said the new system will expedite the checked bag process, allowing the airport to take on more passengers in an efficient manner.

The expansion is part of Ford Airport’s larger, $600 million Project Elevate campaign that kicked off in 2019 and contains multiple projects aimed at accommodating passenger growth. No local tax dollars are being used on any of the projects. Ford Airport is paying for the work with a blend of federal and state grants, municipal bonds and airport flier fees.

“We think this is a very exciting time,” Richardson said. “This is one of several projects within our Elevate program investing over $600 million over the next several years, really making sure that the facility is ready to accommodate today’s growth but also future growth.

https://www.mlive.com/news/grand-rap...expansion.html

[deja vu]

^^^
As a West Michigan transplant, I'm thrilled with what Ford airport has been doing. To have a competitive & comparable air travel option within 45 minutes of us, as compared to driving 2+ hours to DTW or O'Hare, at the mercy of interstate roadwork and traffic - is a major advantage for the entire region*. $600 million worth of airport improvements over a few short years is HUGE. My wife flew out of GRR for spring break to Houston, and it was stupid easy. What Ford is doing and plans to do in the future is a total gamechanger for air travel in our state.

*True, we have our humble little Kalamazoo-Battle Creek airport, with it's 5-6 flights per day, to / from Chicago, Detroit, and Orlando. But while it is convenient, the price is usually exorbitant, and you have to transfer to get pretty much anywhere other than the two cities you could just drive to from here.

Some renderings of the CBIS (Checked Baggage Inspection System) / terminal enhancement project, from the aforementioned groundbreaking -




Source: flyford.org

[DetroitMan]

CWD is planning to convert seven floors of the Fifth Third Bank Building into 140 residential units.
CWD proposes $32M conversion of downtown commercial space into 140 residential units

CWD Real Estate Investment LLC plans to invest $31.7 million into renovations to turn the top seven floors of the Fifth Third Bank office building into residential units, Crain’s Grand Rapids Business has learned.

https://www.crainsgrandrapids.com/ne...dential-units/

[DetroitMan]

Developer plans 181-unit mixed-use apartment community in Creston neighborhood

A developer and a title company are planning to add 181 units of mixed-income rental housing at an existing office property on Grand Rapids’ northeast side.

https://www.crainsgrandrapids.com/ne...-neighborhood/

[DetroitMan]

$318M in tax credits sought for ‘transformational’ projects. Here’s where the money comes from.

The private economic development group leading the push to build a 12,000-seat amphitheater, downtown soccer stadium and two, mixed-use housing towers is requesting $318 million in public subsidies to help finance the projects.

The request, from Grand Action 2.0, is outlined in a city memo, and is scheduled to be considered Wednesday by the Grand Rapids Brownfield Redevelopment Authority. It would then head to the Grand Rapids City Commission for approval.
Here’s a look at what’s included in the request, as well as the housing and inclusion plan for the developments:

Transformational Brownfield

The vast majority of the $318 million subsidy comes from the Transformational Brownfield program.

The program, designed to help spur large-scale projects that would have a “transformational” impact on the local economy, reimburses a developer for a host of construction costs using state and local tax revenue generated because of the development.

That includes property taxes, and the state withholding and income taxes of people who live and work at a development. It also includes income taxes paid by a project’s construction workers.

In Grand Rapids, only projects valued at $100 million or more qualify for the Transformational Brownfield program. The four projects being planned by Grand Action 2.0 — the amphitheater, soccer stadium and two housing towers — would generate an estimated $748 million investment.

The reimbursements are only made if the developments occur and generate the tax revenue needed to reimburse the developer, the city says. There is no up-front check cut to the developer.

In addition to the Transformational Brownfield program, the projects are also seeking a $30.8 million tax cut through the city’s Neighborhood Enterprise Zone exemption. Those funds, which are part of the overall $318 million subsidy, would be received over a 15-year period.

How much would go to each project?

Acrisure Amphitheater: $17.2 million between 2024 and 2044

Ampitheater Tower: $196.6 million between 2025 and 2056.

Soccer Stadium: $10.8 million between 2024 and 2044.

Soccer Stadium Tower: $93.4 million between 2026 and 2057.

The amount of taxes that would be reimbursed for the amphitheater tower and the soccer stadium tower are significantly higher than the reimbursement for the venues.

That’s because the developers of those projects can capture the state income taxes of people who live and work at the developments.

At the amphitheater tower, for instance, that amounts to $101.2 million of the $196.7 million subsidy.

Project details

Acrisure Amphitheater: Grand Action is leading development of a 12,000-capacity venue at 201 Market Ave. SW. The venue, expected to open in 2026, would be owned and operated by the Grand Rapids-Kent County Convention/Arena Authority (CAA). The venue is expected to cost $186 million.

Amphitheater Residential Tower: A 21-story, mixed-use building (six floors of parking and 15-floors of residential) with 475 apartments. The tower would be built adjacent to the amphitheater, and it would cost an estimated $219 million. A private developer would lead this project. At this point, a private developer has not been selected, the city said. Grand Action says it would like the tower to be open by fall 2027.

Soccer Stadium: Grand Action is leading development of an 8,500-seat soccer stadium that would be built next to the David D. Hunting YMCA near Pearl Street and Mt. Vernon Avenue NW. The cost of the stadium, which Grand Action wants to complete by 2026, is $172 million. The venue would be owned and operated by the CAA.

Soccer Stadium Tower: The Grand Rapids Downtown Development Authority will oversee this project, which would be done in conjunction with a private developer. The 18-story towner would include retail, office and residential uses, as well as a 350-space parking garage. The building would include 260 apartments on the top nine floors of the building, with the lower nine-floors comprised of office and retail space. The project is still conceptual, but officials hope it’s open by spring 2028.

https://www.mlive.com/news/grand-rap...omes-from.html

[DetroitMan]

Big fish, billons of dollars: Massive aquarium being eyed in Kent County

John Ball Zoo has selected Kent County as the site for a potential large-scale aquarium, a project that officials say would generate an estimated $2.9 billion economic impact over a decade and draw visitors from across the U.S.

The zoo made the announcement one-day before the Kent County Commission will consider placing a proposal to increase the countywide hotel tax from 5% to 8% on the August ballot. Revenue from the tax could be used to fund the aquarium as well as two downtown Grand Rapids projects: an 8,500-seat soccer stadium and the 12,000-capacity Acrisure Amphitheater. In a news release, Peter D’Arienzo, CEO of John Ball Zoo, said Muskegon County had been considered as a site for the aquarium. But ultimately, Kent County was chosen because it “reflects greater financial and operational capacity to move this project forward.”

Zoo spokesperson Sydney Smith said D’Arienzo was not available Wednesday for an interview to elaborate on the selection of Kent County over Muskegon County. The idea of bringing an aquarium to West Michigan has been under discussion for years.

In 2016, a rainstorm killed 18 cownose stingrays and three spotted bamboo sharks at the zoo. The exhibit was not replaced, but the zoo began exploring the idea of going bigger. Discussions heated up in 2021, when private economic development group Grand Action 2.0 laid out its vision for a 31-acre stretch for Market Ave. SW between Fulton and Wealthy streets where Acrisure Amphitheater will be built.

The aquarium wasn’t part of the vision for that site. But Grand Action’s leaders, which include Dick DeVos, Carol Van Andel, and Fifth Third Bank Regional President Tom Welch, encouraged the zoo to continue pursuing the idea. At this point, few details have been announced about the aquarium.

Wednesday’s news release emphasized the project is in the “beginning planning stages.” Though the release says the aquarium would be built in Kent County, it doesn’t mention any potential sites for the project. Nor did it say how big the building would be, what the project would cost, or how it would be paid for.

“We at John Ball Zoo are incredibly excited about the potential of this project to expand our mission of saving wildlife and wild places, providing meaningful educational experiences and delivering amazing economic benefits to our community,” D’Arienzo said in a statement.

https://www.mlive.com/news/grand-rap...nt-county.html

[DetroitMan]

4 things to know about tax-incentive for 735 apartments by amphitheater, soccer stadium

The Grand Rapids City Commission is considering a $290 million tax-incentive from private economic development group Grand Action 2.0 to spur development of 735 apartments near Acrisure Amphitheater and a proposed soccer stadium.

Here’s a look at how the incentive works, where the tax money would come from, and the details of an affordable housing agreement included in the request.

What’s being requested?

Grand Action 2.0, which is co-chaired by Dick DeVos, Carol Van Andel and Fifth Third Bank Regional President Tom Welch, is leading the public-private partnership to build the 12,000-capcity Acrisure Amphitheater at 201 Market Ave. SW and 8,500-seat soccer stadium near the David D. Hunting YMCA in downtown Grand Rapids.

Part of Grand Action’s vision includes activating the space around the venues with additional development such as housing and retail space.

To get the ball rolling, it’s requesting a Transformational Brownfield plan for the development. The program reimburses a developer, over a period of more than two decades, for a host of construction costs using state and local tax revenue generated because of the development. If the development doesn’t occur, no tax revenue is generated, and no payments are made to the developer.

Overall, the Transformational Brownfield request is valued at an estimated $318 million. That includes tax reimbursements for the amphitheater and soccer stadium, as well as two high-rise housing developments — one at the amphitheater, and the other at the soccer stadium.

The vast majority of the tax incentives, roughly $290 million, are for the housing

https://www.mlive.com/news/grand-rap...r-stadium.html

[deja vu]

Studio Park Tower has a commanding presence, when viewed driving north on US-131. It is now the 5th-tallest in the city.

Does anyone else know if the parking deck that extends south from the tower has the capacity for a second tower to built atop it in the future? It kind of looks that way to me, but maybe it's just wishful dreaming -








Source: LinkedIn | Downtown Grand Rapids Inc.

[DetroitMan]

Great photos! The Studio Park Tower is certainly changing the look of downtown Grand Rapids as you come up U.S. 131 from the south. I'm looking forward to seeing what this area will look like in 10 years when the Ampitheater, Soccer Stadium and two apartment towers come online. Speaking of the Ampitheater, a ceremonial groundbreaking was held today.

$184M Grand Rapids amphitheater will ‘bolster our local economy for generations’

Construction of Acrisure Amphitheater, the 12,000-capacity riverfront venue that supporters say will transform an industrial stretch of Market Avenue in downtown Grand Rapids into a vibrant visitor destination, is expected to begin “within a couple of months.”

Speaking during a ceremonial groundbreaking Tuesday, city, business, and philanthropic leaders cast the venue as part of an “unprecedented riverfront development.” The venue will breathe new life into the area, and serve as a lynchpin of a larger revitalization along Market Avenue, between Fulton and Wealthy streets, that’s expected to include riverfront trails, greenspace, housing, and retailers, they said. “It will connect people together,” said Grand Rapids Mayor Rosalynn Bliss. “It will connect people to place. It will enrich our entire quality of life in our city, and it will bolster our local economy for generations to come.”
Tuesday’s groundbreaking was a big milestone for the project, located at 201 Market Ave. SW.

The concept was discussed as far back as 2005, with Millennium Park envisioned as the site. However, the project fell on the backburner during the Great Recession. It reemerged in late 2018, when state lawmakers approved a $5 million grant for the idea. It’s continued to gain traction ever since, including with the formation in 2020 of Grand Action 2.0 and the selection of 201 Market Ave. SW as the site for the project. Grand Action 2.0 is the successor of Grand Action, a group that disbanded in 2017 and helped foster the public-private partnerships that led to the creation of Van Andel Arena, DeVos Place and Michigan State University’s Secchia Center.

Dick DeVos, co-chair of Grand Action 2.0, likened the amphitheater to “another building block” for Grand Rapids.

“There’s no one project that makes a community great,” he said. “It’s going to be continued like a cement wall. It’s brick upon brick upon brick, and this is another really important brick that distinguishes our community and sets it apart.”

With the groundbreaking completed, officials are continuing to focus on other project elements such as fundraising and construction.

https://www.mlive.com/news/grand-rap...nerations.html

[deja vu]

Here is an interesting little update on the work at / around the Public Museum & riverfront (link).

It is a directly-embedded LinkedIn video, so I'm not sure if this link will work for all.

More info, including two live construction cameras, can be found here.

Renderings from the website (some of these may have been posted before) -

















Camera #1 - facing west (admittedly, not much to see yet) -

Source: grpm.org/expansion

[DetroitMan]

Vacant grocery store could be demolished, turned into 150 apartments

A long-vacant grocery store on Bridge Street NW would be demolished and replaced with a five-story apartment building containing 150 units and ground-floor commercial space under a plan being pitched by a metro Detroit developer.

Ryan Talbot, owner of Talbot Development, said he has secured an agreement to purchase the former Duthler’s Family Food store, 648 Bridge St. NW, and is seeking state and local incentives to help fund the project. The grocery store, a fixture in the West Side neighborhood for two decades, closed in 2017. Located amid a bustling stretch of Bridge Street, where a host of apartments, bars, restaurants and more have opened over the past decade, Talbot called the location a perfect fit for high-density, multi-family housing.

“The housing shortage in GR is unbelievable,” he said. “What I’m trying to do is put as many units on the site as I can.”

Rental rates for the 150 apartments, 95 of which would be studio apartments, have not been finalized. But the units would be priced at the market rate, Talbot said. In addition to the 95 studios, there would be eight two-bedroom units, and the remainder would be one-bedroom apartments.

https://www.mlive.com/news/grand-rap...partments.html

[DetroitMan]

After 50 years, landmark Grand Rapids restaurant to be demolished

After 50 years, the landmark Brann’s Steakhouse & Grille on Leonard Street NW in Grand Rapids is expected to be demolished and replaced with a new, 4-5 story mixed-use building containing up to 102 apartments, retail, and a concept restaurant.

To prepare for construction, the restaurant is temporarily suspending operations at 10 p.m. Friday, June 7.

Johnny Brann Sr., who opened the restaurant at 401 Leonard St. NW in 1974, made the announcement in a news release Thursday afternoon. He will be the owner of the new building, and the Brann family has been working with Rockford Construction and Hendrickson Architecture to create conceptual designs for the structure. “The journey of Brann’s Steakhouse & Grille on Leonard has been a labor of love and dedication,” Brann Sr. said in a statement. “I am immensely proud of the relationships my wife and I have built, the memories we’ve created and the community we’ve served. I’m excited to work alongside my son to craft a future that reflects our commitment to the Westside and the legacy we hold dear.”

The projected cost of the new development is $25 million to $45 million.

John Helmholdt, president of SeyferthPR, a Grand Rapids-based public relations firm that works with Brann’s, said in an email that “the plan is to demolish the building.”

“They are still working through the timeline but hope to start demolition in the next 6 months,” he said.

https://www.mlive.com/news/grand-rap...emolished.html

[DetroitMan]

Glad to see the project brought back after almost 20 years...

Massive residential, commercial development eyed for East Grand Rapids

The plans, being pitched by Gaslight Investors, formerly known as Jade Pig Ventures, are scheduled to be reviewed and discussed by the East Grand Rapids Planning Commission on Tuesday, June 11 at 5:30 p.m. Jade Pig developed two commercial buildings and Bagley Plaza in Gaslight Village in 2006 to 2007, activating the area with retailers, restaurants and more.

In addition to the other features, the proposed development would contain 166 new residential units, 55,000 square feet of new commercial space, and a new internal road with snow-melted sidewalks connecting Wealthy Street to Lakeside Drive.

“This district has become a community gathering place, enhancing the charm of Gaslight Village and helping make this a truly wonderful place to shop, dine, work and visit,” Gaslight Investors partner Scott Wierda said in a news release.

“We see tremendous potential to build on that success, bringing in distinctive residential properties and expanding retail, restaurants and service offerings right here in our community.”

The planning commission meeting is taking place at East Grand Rapids City Hall, 750 Lakeside Dr. SE.

“We’re excited to see positive momentum,” said East Grand Rapids Deputy City Manager Doug LaFave. “This site is the last large development site that remains in East Grand Rapids. We’re excited for the momentum, for the site to meet its potential for the community.” If completed, the project would be one of the biggest developments in the area in “decades,” he added.

Elements of the project, as described in a news release, include:

• A new internal road will connect Wealthy Street to Lakeside.
• New snow-melted sidewalks, site lighting, landscaping, and art will be installed to provide an enhanced pedestrian aesthetic experience.
• Five new multi-story street lined buildings will be constructed along the internal road, including three to four mixed-use buildings containing commercial and residential uses.
• One new building will be dedicated to commercial and professional uses.
• Fourteen new three-story townhomes with private garages will be built along Lakeside.
• Removal of the existing parking deck would make way for the new buildings and the internal road. Current onsite parking will be replaced with a new parking deck as well as increased onsite street parking. Total parking would include 583 spaces.

https://www.mlive.com/news/grand-rap...nd-rapids.html

[DetroitMan]

Five story building, 181 apartments planned for vacant lot in Grand Rapids

Sun Title Company owns the property where the building is planned, and the project is being done in a partnership between Sun Title and Pinnacle Construction Group.

With an estimated $35 million price tag, the building would include 86 studio apartments, 91 one-bedroom units and four two-bedroom units. “We started investing in Creston in 2003, and since then have been continuing to find way to come alongside other community members to improve the neighborhood,” said Tom Cronkright, co-owner of Sun Title. “This project is just another extension of the reinvestment in Creston, but also the huge need that we have in housing.”

Sun Title’s headquarters is located next to the vacant lot where the housing development is planned.

James Lewis, director of real estate development at Pinnacle Construction Group, said the majority of the apartments in the building would be priced at the market rate.

However, he said his firm plans to seek brownfield tax incentives for the project. If the city of Grand Rapids approves the incentives, the project would be required to reserve 20% of its units for households earning up to 120% of Kent County’s area median income (AMI).

https://www.mlive.com/news/grand-rap...nd-rapids.html

[deja vu]

Cascade Township -

Check out these progress photos of a major milestone in the works (in the form of a massive concrete pour) for the terminal expansion project at Gerald R Ford Int'l Airport. Kent Concrete calls their crew "the big red machine" - and from these images, it's easy to understand why!










Source: LinkedIn | Kent Concrete