rss icon

Nick Manes

Nick Manes

Staff writer

[email protected]

The American Institute of Architects (AIA) publishes the quarterly Architectural Billings Index (ABI), which is generally viewed as a leading indicator for the construction industry. While the data fluctuated throughout the year, architects’ billings have been largely positive, according to the Washington, D.C. trade association. Heading into 2018, AIA Chief Economist Kermit Baker generally expects more of the same, albeit with some uncertainty surrounding national policy issues.

Sam Cummings will be the first to acknowledge that he’s got a lot of office and retail space to fill in downtown Grand Rapids next year, with redevelopment work underway at 50 Monroe Ave. NW and unspecified plans in the coming years for the downtown Fifth Third Bank campus, which has been dubbed Vandenberg Center. Cummings says CWD plans to work diligently over the next year to attract large corporate users, bring more activity to ground-floor spaces and focus on the fundamentals of real estate development.

The Great Recession might be years in the past, but commercial real estate executives haven’t forgotten the lessons learned from that time. Rick DeKam, principal with Midwest Realty Group, a Portage-based full-service real estate firm, has spent the last several years building up the company’s cash reserves to prepare for an eventual downturn. But beyond external factors such as “national and global issues related to the country’s presidency and the fact that our county continues to become more and more divided,” he believes the overall business climate continues to look positive.

Brian Walker continues to believe the overall fundamentals of the economy remain strong, but the ongoing wave of nationalism and demonstrations of military might cause him some degree of concern. The president and CEO of Zeeland-based office furniture manufacturer Herman Miller Inc. (Nasdaq: MLHR) counts on free and open access for the trading of goods for his company’s continued success. Meanwhile, the continued “geopolitical noise” from external events like Brexit only creates uncertainty, he told MiBiz at the recent Business Leaders for Michigan CEO Summit in Detroit.

The developers of a mixed-use project on Michigan Street have received an added $1 million in state incentives to offset unforeseen costs and finish the project.

GRAND RAPIDS –– After a largely procedural vote striking down a resolution to boost the inventory of public parking in Grand Rapids, city commissioners will likely reconsider the idea now that it’s gone through the proper channels.

Elected officials in Grand Rapids likely will consider developing and building a new parking structure in the city’s central business district.

Page 9 of 87

Breaking News

April 2018
S M T W T F S
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

Follow MiBiz