Displaying items tagged: Michigan Strategic Fund

For the fourth time since 2014, the Grand Rapids Downtown Market has asked permission to keep paying only the interest on its loans tied to a state economic development incentive as it seeks to restructure its debt load.

Here is the MiBiz Growth Report for Jan. 22, 2018: 

• M&A: Bridgman-based Kruger Plastic Products has been acquired by Chicago-based private equity firm HC Private Investments, according to a statement. Kruger President Pat Brandstatter and VP of Engineering Dirk Kruger retained “significant stakes” in the custom injection molding company. Terms of the deal were not disclosed. Grand Rapids-based Varnum LLP served as legal counsel to Kruger, which was advised on the transaction by BlueWater Partners LLC, a Grand Rapids-based investment banking and consulting firm.

GRAND RAPIDS — After running into challenges with leasing retail space at a prominent downtown redevelopment, a DeVos-held entity got permission from the state to delay its incentive loan repayments.

GRAND RAPIDS — The developers of a mixed-use project being built on the southwest side of downtown just completed an $8.7 million capital raise to finalize a construction loan.

An affiliate entity of Rockford Construction Company Inc. today received approvals and state Brownfield funds from the board of the Michigan Strategic Fund to move forward with its proposed “superblock” on Grand Rapids’ west side.

Legislation that passed the state Senate last Thursday seeks to level the playing field for economic development organizations trying to attract companies to Michigan’s border communities.

The downtown Muskegon area could soon see its first new market rate apartments in years.

Developers of an apartment project along the Grand River north of downtown Grand Rapids secured state backing.

WEST MICHIGAN — 2016 has featured a flurry of commercial real estate news, in a year that’s been defined by dwindling vacancies for developers and rising costs for end users. 

LANSING — The Michigan Economic Development Corp. could expand its toolbox of incentives under a proposed payroll tax abatement program.

GRAND RAPIDS — The largest bank headquartered in Michigan wants to increase its profile in downtown Grand Rapids in the years ahead. 

Mike VanGessel likes to talk about the “why” behind his company’s decision to invest in the long-neglected west side neighborhood of Grand Rapids.

GRAND RAPIDS — Facing a dearth of high-amenity space in the downtown Grand Rapids market, commercial real estate stakeholders hope developers can soon begin to add Class A office inventory.

To help make Michigan more attractive for large-scale real estate developments, lawmakers want to give developers new options to help fund their projects.

Third Coast Development LLC’s plans to construct additional apartments and retail along the burgeoning Michigan Street corridor took a step forward today.

Global advertising firm McCann Erickson and sister company Weber Shandwick won nearly $35 million in new contracts today from the Michigan Strategic Fund. 

Here is the MiBiz Growth Report for Aug. 8, 2016. 

• M&A: Grand Rapids-based architecture firm Progressive AE Inc. has acquired Charlotte, N.C.-based AI Design Group Inc., according to a statement. The new company will be headquartered in Grand Rapids and leadership will remain the same, according to a statement. AI Design will now be referred to as a Progressive AE company. Terms of the deal were not disclosed. 

Plans to build a reported 63-unit, mixed-use development in Grand Rapids’ West Side neighborhood moved forward today with backing from the state.

Construction management firm The CSM Group Inc. will be the anchor tenant in The Foundry, a new commercial office redevelopment that broke ground today on the north side of downtown Kalamazoo.

Backed by state incentives, developers could bring a new 52,000-square-foot mixed-use project to the north side of downtown Kalamazoo.

Kent County and other stakeholders plan “two firsts” in providing abatements for Switch Ltd.’s colocated data center in Gaines Charter Township.

The Michigan Economic Development Corp. plans to “re-evaluate” a gap financing mechanism that commercial real estate professionals say has played a crucial role in the redevelopment of key corridors across West Michigan.