Detroit Developer Revamps Plans For Grand Rapids’ Furniture Company Property

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Detroit developer, Sturgeon Bay Partners is revamping its plan for a huge apartment complex southwest of downtown Grand Rapids. The previously announced plan was to convert the historic Sligh Furniture property into a mixed-use development with residential, retail and commercial spaces. The project’s current price tag is at $100 million due to rising construction costs and interest rates. The developer is revising its plans for the concept design and mix of incentives. The original plan was to create a mixed-use devlopment with 753 apartmes, a five-story parking garage and ground-floor retail space.

 

432-Unit High Rise Planned For Grand Rapids

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Spire Investment Properties and Krika Development are proposing 432 market-rate apartments at the southern edge of downtown Grand Rapids. The McConnell is a 10-story, 336,835-square-foot development that covers three lots. The two out-of-state investors hope to build a food hall, microbrewery or distillery, an outdoor lot for food trucks and shipping container-retail  stores. The development would spread over three parcels. They have not disclosed the project’s budget. The developers are seeking special land-use approval from the Grand Rapids Planning Commission to sell alcohol, food and retail at the site.

 

Nonprofit Tackles Grand Rapids’ Homelessness Issue

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Mel Trotter Ministries is targeting Grand Rapids’ homelessness issue. The city planning commission recently granted approval to the nonprofit’s plans to rezone three industrial lots on Garden St. SE into a planned redevelopment district. Mel Trotter Ministries plans to build a mixed-use tiny home development called Hope Village. It will include 16 detached tiny homes and the redevelopment of a vacant two-story industrial building to add 10 workforce apartments upstairs. The ground level will be used for amenities, social services and offices and space for light industrial tenants. They tiny home will be 240 to 480 square feet. They will be available to tenants who make 20 to 40 percent of the area median income. They will also come with a path to ownership.

Grand Rapids Office Market Continues to Sputter

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The Grand Rapids third quarter office market vacancy rate hit 13.1 percent. The vacancy rate has been increasing since the pandemic as employees move between work-from-home and in-office situations. According to the real estate firm JLL, the market will continue its stops and starts for a while to come. Detroit’s General Motors is an example of the trend. The employer requested employees to come in three days a week only to rescind the request when employees pushed back. Grand Rapids suburban and central business district vacancy rates are one of the lowest in the U.S.

 

 

 

Lansing-Based Company Announces Grand Rapids Satellite

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Lansing-based Clark Construction Company announced this week that it will open a Grand Rapids office in McKay Tower. The office will house the company’s West Michigan outpost. The company has done more than $500 million of work in the Grand Rapids area in the past ten years. The outpost is expected to open in the next 1 to 2 months. The company’s Vice President Dan Korte will lead almost 30 West Michigan employees at the new site. Currently, the company is in the middle of the Gun Lake Casino’s Phase Five project.

 

$37 Million Hospice Long-Term Care Facility Coming to Grand Rapids

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Beaumont Health and Spectrum System has begun construction on a $27 million long-term care, hospice and dialysis center in Grand Rapids. The facility will span 94,000-square-feet and is expected to be complete by spring 2024. The facility will include 125 beds, as well as art therapy and other therapeutic programs. The new center is replacing the current continuing care facility located on Fuller Avenue. Currently, the Fuller Avenue facility provides post-acute rehab, including care for accident and stroke victims. Those services will move to another property underway on Leffingwell Avenue NE.  All employees of the Fuller Avenue sub-acute rehab and long-term care facility will have the opportunity to transfer to other locations.

 

 

Three Dispensaries and Processing Facility to Open in Grand Rapids

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Tommy Nafso, former metro Detroit lawyer and state regulator, and Darel Ross, a Grand Rapids entrepreneur, have partnered to open three cannabis dispensaries and a process facility. They will open the first of the three Noxx dispensaries at 2440 28th St. NW in Grand Rapids this month.  A soft launch is planned for Aug. 22, along with a grand opening September 10. The second dispensary will open in late September. The processing and dispensing facility will be Noxx’s main production and will open in mid-November. Noxx’s three dispensaries will be the most operated by one company in Grand Rapids. The partners plan to hire 150 employees across the three locations.

 

$116 Million Amphitheater Approved by Grand Rapids Leaders

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In April, the Grand Rapids City Commission approved a proposal by the Grand Rapids-Ken County Convention/Arena Authority (CAA) to buy over 11 acres of land to build an amphitheater. At its board meeting on Friday, the commission approved a memorandum of understanding with Grand Action 2.0 (GA2.0) that outlines the terms of partnership between CAA and Grand Action 2.0 in developing the amphitheater. The proposed $116 million amphitheater will seat 12,000. It will sit at the southwest edge of downtown Grand Rapids and be slightly smaller than Pine Knob Music Theater in metro Detroit. The CAA is a seven-member board that administers DeVos Place, DeVos Performance Hall and Van Andel Arena. Grand Action 2.0 is an economic development group chaired by Carol Van Andel, Dick DeVos and Tom Welch, Michigan’s regional president of Fifth Third Bank.

 

Inflation Impacts Property Taxes With Highest Increase Since 2007

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Michigan homeowners can expect to see bigger than normal increases in their summer property tax bills. Thanks to this year’s inflation, many need to prepare for even bigger hikes next year. The inflation rate adjustment for this year’s property taxes is 3.3%, the highest it has been in 15 years. The rate is the maximum increase in taxable value that can apply this year to Michigan homes that haven’t changed ownership or seen additions to the property. The multiplier hasn’t been over 3% since 2007. Inflation’s impact on food and gas prices are obvious to consumers, but its impact on property taxes can be unexpected and somewhat hidden.

 

 

Perrigo Hosts Grand Opening At New North American Headquarters

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Perrigo, the Dublin-based producer of self-care products, hosted a grand opening sneak peak of its new North American Corporate headquarters in downtown Grand Rapids. The ceremony included its project partners, Grand Rapids Mayor Rosalynn Bliss  and The Right Place President and CEO Randy Thelen. Located at MSU’s Grand Rapids Innovation Park, the project began construction in April 2021.  The $45 million investment was completed by Health Innovation Partners.