A project to construct townhomes in the city’s Michigan Oaks neighborhood gained financial support from the state on Tuesday.
Hotel development in West Michigan remains on a torrid pace for 2019. Developers have plans to add more than 800 new rooms this year, with developments popping up in downtown Grand Rapids and in suburban areas surrounding the city. At the same time, although annual hotel occupancy dipped slightly for 2018, hotel revenue actually increased, a reflection of record room bookings.
A new effort aims to find ways to kickstart economic growth along The Rapid’s Silver Line bus route from Grand Rapids though southern Kent County.
Van Wyk Risk Solutions has signed a lease to occupy Class A office space in the new Warner Building downtown.
GRAND RAPIDS — With minimal “velocity” in the West Michigan office market, Franklin Partners LLC has backed away from plans to construct a $30 million, 100,000-square-foot glass and steel office project on the south end of downtown.
Here is the MiBiz Growth Report for March 5, 2018:
• M&A: After nearly doubling the business over the last two and a half years, the private equity owners of Action Fabricators Inc. decided the market timing was right to find a partner to take the company to the next level. Last week, Chattanooga, Tenn.-based River Associates Investments LLC announced it had sold the Grand Rapids-based manufacturer of adhesive-backed products for the automotive and medical device industry to Boyd Corp. of Modesto, Calif. Terms of the deal were not disclosed. Action Fabricators grew revenues from around $45 million in 2015 to nearly $80 million at the time of the sale. President and CEO Jon Rudolph and the rest of the management team will stay on with the new owners. Boyd is a portfolio company of San Francisco-based Genstar Capital. Milwaukee, Wis.-based Robert W. Baird & Co. represented Action Fabricators in the deal.
Retailers have started to open up shop in the new Fulton Square mixed-use development in Grand Rapids’ Fulton Heights neighborhood.
GRAND RAPIDS — Citing demand for more diverse housing products, developers cautiously have started exploring whether to market new condominiums for sale in Grand Rapids’ downtown district.
Here is the MiBiz Growth Report for June 26, 2017: