Displaying items by tag: real estate development

WAYLAND — Gun Lake Casino today officially broke ground on its $300 million expansion that includes a 15-story hotel and multi-purpose “aquadome” enclosed pool space that will double as a nightlife venue.

CertifID LLC, a Grand Rapids company that developed software to protect money wire transfers in real estate transactions, has closed on $12.5 million in growth capital.

A Chicago-based property management firm sees long-term opportunity in the Grand Rapids market following a pair of apartment building acquisitions in the past six months totaling more than $17 million in investment.

GRAND RAPIDS — Bazzani Building Co. has sold its recently constructed, all-electric Bradford Station apartment building in Grand Rapids for $4.65 million to a Chicago-based property management firm.

DOWAGIAC — Mno-Bmadsen, the non-gaming investment arm of the Pokagon Band of Potawatomi Indians, has co-invested in a mixed-use property that aims to play a role in the revitalization of a Southwest Michigan city.

A group of business owners and environmental and housing advocates are calling on the state to invest $1.65 billion in affordable, energy efficient homes as the Whitmer administration also pursues a statewide housing plan.

Two entrepreneurs and a construction industry veteran are launching a new Grand Rapids-based construction management firm.

GRAND RAPIDS — When Richard App started his role as retail retention and attraction specialist at the Grand Rapids Area Chamber of Commerce in January 2020, Gazelle Sports was on his list of retailers he hoped to bring downtown.

GRAND RAPIDS — The Rowe, a downtown Grand Rapids mixed-use building formerly owned by the DeVos family office, recently sold for $19.6 million to a California-based real estate firm.

The Grand Rapids Gold is working with downtown entertainment officials to see whether Van Andel Arena could be the minor league basketball team’s new venue, according to a team executive.

GRAND RAPIDS — City officials have approved a 12-year Neighborhood Enterprise Zone tax incentive for the $52 million second construction phase of the Studio Park development downtown.

KALAMAZOO — The developer planning a 52-unit, mixed-use project at a former industrial site north of downtown Kalamazoo will receive $1.2 million in additional state loans as construction costs escalate.

GRAND RAPIDS — The developer proposing a massive redesign of a former Grand Rapids furniture factory recently acquired the sprawling building, brought on a partnering development firm and received a six-month zoning-related extension from city planners.

Former executives at Colliers International’s West Michigan office that left the real estate group in January 2021 to start their own firm breached non-solicitation obligations in the process, according to an arbitration resolution announced this week. 

WALKER — An Illinois developer is seeking final site plan approval for a 250-unit apartment complex at the former Lincoln Country Club that would greenlight the first phase of what’s been a multi-year process stalled by neighborhood concerns and the COVID-19 pandemic.

GRAND RAPIDS — Sturgeon Bay Partners is seeking an extension involving plans to redevelop the former Sligh Furniture Co. factory in Grand Rapids into a 753-unit apartment project.

HOLLAND — Nonprofit housing organization Dwelling Place is partnering with First United Methodist Church and Hope Church to develop a 46-unit, affordable apartment development in downtown Holland.

The Fair Housing Center of West Michigan is one of 20 housing organizations across the country preparing to distribute funds from a landmark $53 million settlement that the National Fair Housing Alliance reached with Fannie Mae.

GRAND RAPIDS — The public authority that administers three major downtown Grand Rapids venues could expand its portfolio in the coming years with a new riverfront amphitheater and a popular downtown music venue.

GRAND RAPIDS — Local entertainment and development officials say a planned $116 million outdoor amphitheater is modeled off the success of Van Andel Arena and could serve as an even stronger catalyst for further downtown development.

GRAND RAPIDS — Downtown Grand Rapids Inc. will receive $55 million to connect trails along the Grand River as part of a $4.7 billion infrastructure plan Gov. Gretchen Whitmer signed today.

GRAND RAPIDS — The Grand Rapids-Kent County Convention/Arena Authority has approved plans to purchase Grand River waterfront property to develop an amphitheater and also will further consider leasing and operating GLC Live at 20 Monroe.

GRAND RAPIDS — The public authority that operates Van Andel Arena, DeVos Place and DeVos Performance Hall could add GLC Live at 20 Monroe to its portfolio of venues.

GRAND RAPIDS — The Grand Rapids City Commission is set to vote on selling downtown waterfront property to make way for an outdoor amphitheater.

Peter Beukema saw an opportunity during the pandemic to start a new role in the hospitality industry, stepping down as CEO of Suburban Inns late last year. He is still one of the owners of the family-owned business, but he has formed his own third-party hotel management company called 6PM Hospitality Partners LLC. 

Hospitality executives see positive signs of leisure travel activity increasing across West Michigan, though corporate travel still lags pre-pandemic levels.

GRAND RAPIDS — Synia Jordan is unimpressed with a Michigan Department of Transportation online survey that’s gathering public feedback about potentially changing US-131 between 28th Street and Wealthy Street. 

As companies take varied approaches to in-person and remote work, commercial real estate experts generally agree that office square footage needs will likely shrink with the adoption of more hybrid workspaces.

GRAND RAPIDS — Acrisure LLC opened its new $33 million office in downtown Grand Rapids in August 2021, and expects it will need more space by the end of this year as the company grows its workforce.

Commercial real estate experts have struggled to predict the future of the office market since the COVID-19 pandemic started, though they expect demand for high-quality office spaces to remain strong.