Real Estate/Development
GRAND RAPIDS — State and local housing leaders are beginning to collaborate on ways to accomplish goals established in Gov. Gretchen Whitmer’s Statewide Housing Plan.
GRAND RAPIDS — DeVries Jewelers plans to tear down the abandoned Lannings’ restaurant on Grand Rapids’ west side to make way for a new storefront for the fourth-generation, family-owned jewelry retailer.
Housing developer seeks to replace units at Grand Rapids project with daycare center
Written by Kate CarlsonGRAND RAPIDS — The developer behind a Grand Rapids workforce housing project that recently broke ground seeks to replace 10 ground-floor apartments with a daycare center to help address the widespread shortage of child care options.
$8.5M Grand Rapids spending plan calls for affordable housing, neighborhood investments
Written by Kate CarlsonGRAND RAPIDS — City officials have released a plan for spending $8.5 million in federal funding primarily on repairing or building hundreds of affordable housing units and creating homeownership opportunities.
Metro Detroit investor buys Grand Rapids luxury development
By Rachel Watson, Crain’s Detroit BusinessGRAND RAPIDS — A metro Detroit investor has acquired a 320-unit luxury apartment community in West Michigan less than a year after it was finished.
Grand Rapids neighborhood rebounds from failed developments with new sense of optimism
Written by Kate CarlsonGRAND RAPIDS — Less than a decade ago, the Creston Neighborhood was positioned to be “that next hot spot” in the city of Grand Rapids. A developer planned two mixed-use housing projects in the neighborhood’s business district, spurring other businesses to plan for expansion or relocating to the neighborhood.
FROM OUR ADVERTISERS
Grand Rapids amphitheater design progresses, will appeal to ‘younger generation’
Written by Kate CarlsonGRAND RAPIDS — Developers are making progress on the design and overall vision for a Grand Rapids riverfront amphitheater, which they call “the largest proposed redevelopment of a riverfront in the nation at this point.”
West Michigan firm working to reverse trend of ‘too few minorities in construction’
Written by Kate CarlsonA portfolio of West Michigan businesses has tapped a longtime statewide policy advocate to help lead its strategy to bring more people of color into construction and related sectors.
The DeVos family last month sold the Peninsular Club building in downtown Grand Rapids after previously making extensive renovations to the nearly 110-year-old building.
DeVos family sells historic Peninsular Club building in downtown GR for $6.4M; University Club moving in
Written by Kate CarlsonGRAND RAPIDS — A DeVos-owned building with a “long, storied history” in downtown Grand Rapids recently sold for nearly $6.4 million, and is set to once again house a private social club.
GRAND RAPIDS — Nonprofit disability service provider Hope Network is set to break ground this spring on a $40 million affordable housing project after overcoming pandemic- and financing-related delays.
PARK TWP. — The owners of the Ottawa Beach General Store, a community staple along Lake Macatawa near Holland State Park, plan to rebuild the facility and maintain its vintage design in time for the 2024 season.
Apartments to replace vacant commercial space at 15-story Exchange Building in Kalamazoo
Written by Kate CarlsonKALAMAZOO — The developer of a 15-story mixed-use project in downtown Kalamazoo will now fill one floor with 21 apartments instead of initially planned commercial space, which became “extremely challenging” to fill as a result of the COVID-19 pandemic.
Magnus Capital Partners navigates financial obstacles to deliver workforce housing project
Written by Kate CarlsonDespite construction cost escalations and a range of delays, real estate development and investment firm Magnus Capital Partners broke ground in December on a 240-unit, $51.5 million multifamily housing project in Grand Rapids.
Neighborhood, planning concerns stall affordable housing project in Belknap Lookout
Written by Kate CarlsonGRAND RAPIDS — A 52-unit affordable housing development proposed in Grand Rapids’ Belknap Lookout neighborhood faces opposition from nearby residents and a city planning board about whether the project fits in the surrounding area.
Honeycrisp Ventures closes on Zeeland property to add nearly 1M square feet of industrial space
Written by Kate CarlsonZEELAND — Ada-based developer Honeycrisp Ventures LLC recently closed on a former 45-acre agricultural site in Zeeland that will be converted into nearly 1 million square feet of much-needed industrial space.
Retailer Tuesday Morning to close Grand Rapids, Portage locations amid bankruptcy filing
Written by Kate CarlsonDiscount home goods retailer Tuesday Morning plans to close more than half of its U.S. stores, including locations in Grand Rapids and Portage, after the company filed for Chapter 11 bankruptcy on Tuesday.
The next hurdle for Grand Rapids’ growing population: suburban zoning
By Rachel Watson, Crain’s Detroit BusinessGRAND RAPIDS — As Kent County's housing shortfall grows, community leaders are targeting zoning reform as a tool to increase housing density.
MUSKEGON — The Muskegon City Commission approved amendments on Tuesday that will pave the way for construction to begin on the $250 million Adelaide Pointe development along Muskegon Lake.
State housing exec focuses on first-time buyers, rejuvenating neighborhoods
By Nick Manes, Crain’s Detroit BusinessThe Michigan State Housing Development Authority is on the frontlines of the state’s efforts to add more housing supply, from urban centers like Detroit and Grand Rapids to rural parts of the Upper Peninsula and in the far southwest corner of the state.
Affordable housing developers plan second 52-unit project in GR’s Belknap Lookout neighborhood
Written by Kate CarlsonGRAND RAPIDS — A group of affordable housing developers plan to construct a three-story, 52-unit apartment building next to the Union Suites on Coit housing project that is currently under construction in Grand Rapids’ Belknap Lookout neighborhood.
Grand Rapids area housing gap grew 59 percent during pandemic — and it’s projected to worsen
By RACHEL WATSON, CRAIN’S DETROIT BUSINESSGRAND RAPIDS — A study released Monday shows the housing shortage in greater Grand Rapids soared during the pandemic as more young people moved to West Michigan amid sluggish new housing starts.
New financing tools available as developers, investors contend with housing challenges
By ANDREW DEHANWhile local housing officials expect last year’s spike in housing prices and interest rates to cool off in 2023, high demand and low inventory are still creating difficulties for renters and homebuyers.
West Michigan downtowns show signs of resilience, despite lagging office market
Written by Kate CarlsonWith the exception of a shaky office market, business leaders in West Michigan are reporting largely healthy downtown city centers with increased visitors, an influx of businesses opening and new projects under construction.
State invests $275M to create new tools for housing projects, blight elimination
Written by Kate CarlsonAdvocates are awaiting details on how to access $275 million in new funding programs to address the state’s housing shortage.
Northern Michigan developer plans Grand Rapids’ first permanent food truck court
By Rachel Watson, Crain’s Detroit BusinessGRAND RAPIDS — The owner of a pair of food truck courts in northern Michigan is proposing a similar concept at a long-vacant grocery store on Grand Rapids’ burgeoning West Side.
‘We come in peace’: Rezoning OK’d for $150M GR development over concerns from industrial neighbor
Written by Kate CarlsonGRAND RAPIDS — The city Planning Commission has signed off on rezoning key parcels to facilitate a $150 million mixed-use redevelopment, despite concerns from a nearby business about whether the project conforms to surrounding industrial uses.
Developers pitch ambitious 375-unit housing project at former WWII parachute factory
By Rachel Watson, Crain’s Detroit BusinessGRAND RAPIDS — A group of metro Detroit developers is eyeing a massive West Michigan industrial site that has for years resisted new construction.
Arena board OK’s new agreement to examine amphitheater-adjacent properties; venue design nears completion
Written by Kate CarlsonGRAND RAPIDS — The Grand Rapids-Kent County Convention/Arena Authority has authorized an agreement with a private sector partner to examine development opportunities on several properties near a proposed riverfront amphitheater.
GR auto service center expanding with proceeds from building sale to Corewell Health
Written by Andy BalaskovitzGRAND RAPIDS — A second Grand Rapids business owner is investing the proceeds from the sale of its Monroe North property to Corewell Health for further expansion.
Developer plans 2-story, mixed-use project on Wealthy Street where historic building burned down
Written by Kate CarlsonGRAND RAPIDS — A local development firm plans to build a two-story, mixed-use project on a vacant lot in Grand Rapids’ East Hills neighborhood where a historic structure burned down last year.
MiBiz on WOOD-TV8: Developer plans $220M project at former Shaw Walker Furniture building in Muskegon
Written by MiBiz StaffDeveloper Jon Rooks’ Parkland Properties has closed on the purchase of a large former furniture factory in Muskegon, and plans a $220 million mixed-use investment in the site.
BETTING ON MUSKEGON: Parkland Properties plans ‘flagship’ project at Watermark Center
Written by Kate CarlsonMUSKEGON — Parkland Properties President Jon Rooks felt a sense of obligation to purchase the former Shaw Walker Furniture Co. building in Muskegon, where the company now plans a $220 million redevelopment.
Lambert & Co. founder acquires downtown GR building for $3M to support growth
Written by Kate CarlsonGRAND RAPIDS — The founder of public relations and investor relations firm Lambert & Co. has acquired a downtown Grand Rapids building to accommodate growth as well as the formation of a tech and marketing hub.
Fishbeck boosts environmental practice in deal for SW Michigan-based Envirologic
Written by Kate CarlsonCASCADE TWP. — Architecture and engineering firm Fishbeck is growing its environmental practice with the acquisition of Southwest Michigan’s Envirologic Technologies Inc.
Homeowner assistance toolbox to help expand housing options in Charlevoix County
Written by Kate CarlsonCHARLEVOIX — Charlevoix County is exploring accessory dwelling units as a pathway to expand housing options, and will offer homeowners a step-by-step guide to consider creating such units on their property.
Mixed-use building, adjacent properties in GR’s Monroe North district sell for $22.6M
Written by Kate CarlsonGRAND RAPIDS — A large mixed-use development in Grand Rapids’ active Monroe North business district, along with an adjacent parcel and nearby parking lot open for future development, sold for $22.6 million at the end of 2022.
Housing projects in Grand Rapids, Kalamazoo, Traverse City, Spring Lake and Three Rivers received nearly $6.1 million in the latest round of Low Income Housing Tax Credits administered by the state.
Sip Shine tasting room, restaurant, rooftop bar OK’d for Grand Rapids’ west side
Written by Kate CarlsonGRAND RAPIDS — Moonshine and canned cocktail marketer Sip Shine LLC plans to bring a new nightlife experience to Grand Rapids’ west side this spring at the former Harmony Hall building.
COMSTOCK PARK — West Michigan Whitecaps executives have announced a five-year, multi-phase plan to upgrade their home facilities at LMCU Ballpark.
Dwelling Place set to break ground on 42-unit community land trust housing project
Written by Kate CarlsonGRAND RAPIDS — Nonprofit housing developer Dwelling Place plans to break ground this spring on a years-long project to build 42 homes in Grand Rapids’ Garfield Park Neighborhood.
GR developer plans 10-story, riverside mixed-use project with 140 residential units
Written by Kate CarlsonGRAND RAPIDS — A 10-story, mixed-use building with 140 residential units would replace two mostly vacant office buildings along the Grand River as part of a developer’s plan to add housing and public river access to a former industrial part of the city.
Developer seeks to cut hundreds of housing units from original Sligh building redevelopment plan
Written by Kate CarlsonGRAND RAPIDS — The Detroit-based company proposing a massive redevelopment of the former Sligh Furniture factory in Grand Rapids wants to cut more than 300 housing units from the original proposal and add a self-storage component, among other changes.
CWD buys Creston neighborhood eatery, taps Essence Restaurant Group to take over Lucy’s cafe
Written by Kate CarlsonGRAND RAPIDS — Restaurant operator Essence Restaurant Group LLC, which owns The Green Well, Bistro Bella Vita and Grove in Grand Rapids, is now taking over Lucy’s, a breakfast, brunch and coffee bar concept in the Creston neighborhood.
Multifamily investment firm buys multiple Calvin Seminary student housing buildings for $5.6M
Written by Kate CarlsonGRAND RAPIDS — Multifamily investment and property management firm Trillium Investments LLC recently purchased 62 student housing units from Calvin Theological Seminary for $5.6 million.
Commercial real estate executives largely share the view that more answers about the future of the West Michigan office market will emerge in the next year or two as more office leases come up for renewal.
Housing, industrial segments buoy West Michigan construction outlook for 2023
Written by Joe BoomgaardDespite a confluence of factors that could challenge project timelines and pro formas, architecture and construction industry insiders remain confident that the fundamentals of the market will continue to drive new activity into the new year.
West Mich. housing organizations awarded $4.2M from state Missing Middle Housing Program
Written by Kate CarlsonFour West Michigan housing nonprofits will receive $4.2 million in state grant funding to construct or upgrade 71 homes and rental units.
