Displaying items by tag: Gun Lake Investments
GRAND RAPIDS — The CEO of Gun Lake Investments — the economic development arm of the Match-E-Be-Nash-She-Wish Band of Potawatomi Indians, or Gun Lake Tribe — has resigned after six years in the position.
As the COVID-19 pandemic wreaked havoc on tribal casino gaming revenue, officials with the non-gaming economic development arms of several Michigan tribes say their flow of capital and projects largely held steady.
The seeds for the joint purchase of the iconic McKay Tower building in downtown Grand Rapids took root years ago when the CEOs at Waséyabek Development Co. LLC and Gun Lake Investments started talking about doing deals together.
In mid March of this year, all 24 of Michigan’s tribally operated casinos fell silent, their more than 22,280 slot machines spitting out their final paydays for lucky patrons or taking one last injection of cash for the house.
GRAND RAPIDS — A federal contracting firm owned by Waséyabek Development Co. LLC has begun work on a five-year, $161 million contract with the Department of Energy to provide site operations and support services at three National Energy Technology Laboratory locations.
Call it the six stages of COVID-19 coping: Experiencing shock. Assessing. Recalibrating. Cash Flowing. Helping. Imagining. That seems to sum up an emotional and intellectual path many West Michigan business owners have travelled recently as their companies faced extraordinary circumstances brought on by the spread of coronavirus.
More than a decade ago, Grand Rapids business leaders lobbied hard to block the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians, known locally as the Gun Lake Tribe, from opening a casino near Wayland.
Groups like 23 is Enough and MichGO drove the narrative that any casino development south of Grand Rapids would “siphon off” jobs and investment from the city’s then-rebuilding downtown, limiting growth in entertainment options and economic opportunity alike. They cited a study commissioned by the Grand Rapids Area Chamber of Commerce in the early 2000s that estimated $880 million of “economic hemorrhaging” in the surrounding counties if Gun Lake Casino were ever allowed to move forward.
Looking around downtown Grand Rapids today, it’s hard to find evidence that their worst fears were in any way realized.
GRAND RAPIDS — Tribally owned Gun Lake Investments and Waséyabek Development Co. have jointly acquired McKay Tower in downtown Grand Rapids, MiBiz has learned.
ROUNDTABLE: The M&A market ended 2019 in good shape and professionals who work in the field expect dealmaking to remain strong in the new year.
GRAND RAPIDS — Tribally-owned Gun Lake Investments is making an active push into the West Michigan commercial real estate market with an investment in a high-profile redevelopment and three property acquisitions so far this year, MiBiz has learned.