Partnership Looks to Grow Greenspace

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A partnership between the city of Grand Rapids and Kent County Drain Commissioner Ken Yonker is focused on developing some much needed greenspace on the city’s Southeast Side. Located at 1516 S Division Ave., the property and an adjacent parcel are two of 11 properties the Grand Rapids City Commission will move forward on. The other nine properties are along Carrier Creek on the city’s Northeast Side. The city plans to turn them into park spaces, while maintaining the storm water management functions that are in place. The parks will focus on recreation opportunities like walking trails, overlooks and benches.

 

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Slow Pace Continues for Hudson Site Project

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Dan Gilbert’s Hudson site project broke ground in December 2017. The original plan intended the tower to be taller than the RenCen, but even after the downsizing of its planned tower, it’s a long way from being complete. According to experts, it takes about four to five years to build big skyscrapers in the U.S., yet the Hudson site development is moving slower than recent projects in Chicago with higher towers. The pandemic’s negative impact on the demand for office space, more hotel rooms and more luxury apartments may be factors in the slow pace of construction. According to Mayor Mike Duggan, people who have office buildings are rethinking the amount of office space they’re using. Convention business has also been impacted. Downtown hotel occupancy was 36% in September, 34% drop from the previous year. The $900 million-plus project had an original completion date of summer 2022. 

 

Metro Detroit Housing Market Still Heated

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Metro Detroit’s housing market is still hot for sellers and confounding for buyers, although not as intense as in spring and early summer. The median sales price for houses and condos was up over 7% in October from a year earlier, according to Realcomp multiple-listing service. That figure includes Oakland, Wayne, Macomb and Livingston counties. The amount of on-market listings was down almost 13%, and the average days on the market decreased by 7 days when compared with October 2020. The numbers show that sellers are still benefitting, even though the market has cooled a bit from earlier in the year.

 

Amway Grand Plaza’s Renovation Completed

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The $40 million renovation of the Amway Grand Plaza’s 29-story tower is complete. Renovations began in January 2019 and outfitted the tower with new glass that provides guest rooms and the restaurant, MDRD, with floor-to-ceiling views of the city. Prior to the renovations, the 285 tower rooms had windows that started at knee level. According to the chairman and CEO of Van Andel Institute, the tower’s original glass was at the end of its useful life. The new glass is expected to save 10% in energy costs. The tower’s crown was outfitted with new LED lighting. The hotel was received new metal cladding, a backlit crown logo, and updated balcony rooms.

 

Bedrock Gives Tour of Book Tower Progress

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 On Thursday, Bedrock gave a tour of its renovation progress on the historic Book Tower. The renovations include restoration of the original limestone and masonry facade,  replacing 2,400 period accurate windows, and repurposing former office space into 229 residential units. It will also offer retail, hotel and office space when completed. The $313 million project also includes the 13-story Book Building structure. The development will include retail in the basement and first floor, office space on the second and third floors, and the ROOST Apartment Hotel will occupy floors four to eight, featuring 118 studio, one and two-bedroom units. A rooftop bar and outdoor terrace space are also in the plans.

Sugar Loaf Resort Demolition Is Underway

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Excavators have begun demolition of Sugar Loaf Resort in Leelanau County. The demolition should be completed by early January, but questions continue to loom. Who is financing the demolition, and what’s on the horizon for the site? The resort operated from the early 1960s until it closed in 2000 and was a premier winter destination. It had two golf courses, a 144,000-square-foot lodge and hotel, a restaurant, two pools, a 3.500-foot paved airstrip, indoor tennis, 72 townhouses, five chairlifts and a wastewater treatment plant. Ross Satterwhite is a local real estate adviser and the spokesperson for the unknown owners.

 

 

Livingston County is Commercial Building Dead Zone

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More than 7.5 million square feet is under construction in the Southeast Michigan region to fulfill the need for industrial, warehouse and distribution center buildings. But in Livingston County? Not so much, although it appears to be perfect for new construction. It has low vacancy, outdated inventory and rising rents. Only one new 40,000-square-foot industrial building has been constructed within the county’s 585 square miles in the last four years. Effectively, the market is full. Available workforce and infrastructure also contribute to new industrial space not coming into the county.

Downtown Birmingham Bright Spot for Retailers

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Downtown Birmingham is bustling with at least 8 retailers and 4 new food establishments that have opened, expanded or made plans to open in recent months. Retailers are rebounding in sales numbers and downtown Birmingham office space is at pre-pandemic levels of demand. According to real estate insiders, a popular retailer may be opening a new store at Maple and Old Woodward. In addition, downtown Birmingham opened its second luxury hotel. The 151-room Daxton hotel opened in April.

 

 

 

Michigan Township Vetoes Solar Farms

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Invenergy, a multinational energy company, has offered Washtenaw County farmers $1,100 a year for each acre of land utilized for solar panels. Landowners agreed to the deal, but the township didn’t. Some residents fear electromagnetic radiation. Township officials are disenchanted with the company’s sign up efforts before consulting local government. They’re also skeptical about Invenergy’s promises of boosted tax revenue. Others worry about the aesthetics of the panels and their infringement on hunting land. Bridgewater landowners feel that the deal was turned down based on assumptions and misinformation.

High Demand and Low Supply Drive Livingston County Market

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A more affluent and green space is a combination that is bringing a lot of people to Livingston County.  According to Census data, the county saw a 7 percent growth rate from 2010 to 2020. It’s one of the fastest growing counties in the state with a population of more than 193,000 people. Home prices continue to rise, although areas like Fowlerville remain more affordable than surrounding areas. Even with the area’s historical reputation for Ku Klux Klan activity and racial intolerance, there is still more demand for housing than there is supply.