Sydney Smith

Sydney Smith

Staff Writer, covers real estate and economic development
Twitter: @BizSyd
Email: [email protected]

NORTON SHORES — A company that moved out of Norton Shores before its tax abatements expired is now suing the lakeshore community and fighting the city’s demands for repayment of nearly $1 million.

Federal tax reform means multiple benefits to the real estate industry, although some further guidance is needed for investors to fully understand what that means. After President Donald Trump signed into law the most sweeping changes to the U.S. federal tax code since 1986 with the Tax Cuts and Jobs Act, experts pointed to the real estate sector as one of the winners with the reforms.

Western Michigan University Professor David Karowe, Ph.D. has dire predictions for what will happen if people across the globe fail to take swift action to replace fossil fuels with green energy. While climate change affects systems globally, it will have real effects on the West Michigan region and its economy, according to Karowe’s predictions, which are informed by his years of research on the effects of rising atmospheric carbon dioxide in plants.

GRAND RAPIDS — Developers relied on low-income tax credits to add nearly 2,000 units of affordable housing in the city over the last five years. While the credits provide key gap financing to affordable housing developers, officials who administer the funding say the program is consistently “oversubscribed,” leading to delays for new projects.

Sunday, 20 January 2019 23:54

New housing boom comes to Walker

WALKER — With a massive amount of new housing in the works, the city of Walker hopes to further define its identity. Developers have planned and the city has approved more than 400 housing units for the Grand Rapids suburb, including 206 single-family units and up to 221 multifamily residences.

Van Wyk Risk Solutions has signed a lease to occupy Class A office space in the new Warner Building downtown.

Allegiant Travel Co. is expanding its footprint at the Gerald R. Ford International Airport with the opening of a $42.8 million base.

Kingma’s Market will close its store in Ada almost 18 months after opening the second location.

GRAND RAPIDS — The construction industry, both nationally and statewide, continues to express persistent concerns related to a labor shortage and escalating construction costs in the year ahead. 

NORTON SHORES — A lakeshore community is asking a manufacturer Wacker Neuson Corp. to pay back lost tax revenue after the company left town before fulfilling the obligations of its tax abatement. Wacker Neuson, a manufacturer of construction equipment that had been located in Norton Shores since 2007, closed its facility at 1300 E. Mount Garfield Road in August 2018, two and a half years before the expiration of one of six tax abatements it received.

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