Despite political uncertainty and fears of an impending economic slowdown, commercial real estate and construction stakeholders have faith in the fundamentals of the industry in West Michigan.
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.
West Michigan’s commercial real estate industry is capping off a banner year for 2016. Developers, architects and contractors have all reported success across multiple sectors, including retail, industrial and health care. And while some divisions have started to emerge about just how strong all those sectors truly are, executives across the region agree the boom in apartment development — and the corresponding need for design and construction for those projects — is real and makes for significant business opportunity. In separate interviews, MiBiz spoke with three industry stakeholders to get their take on where one segment in particular — the multifamily market — stands and where it’s going.
Large amounts of new office space, particularly for medical uses, will come online in suburban Grand Rapids in the near future, and it’s not expected to last long on the market.
GRAND RAPIDS — A recent Grand Rapids Planning Commission decision underscores its long-term development goals for the high-traffic area near the intersection of Knapp Street and East Beltline Avenue.
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.
As the 2016 version of ArtPrize enters its final week, it might seem like local artists are living in a golden age.
GRAND RAPIDS — BarFly Ventures LLC, the parent company that operates the growing HopCat craft beer bar chain, has secured a new $5 million investment to further its expansion in the Midwest, MiBiz has learned.
GRAND RAPIDS — Restoring the Grand River to its former state and encouraging more recreational uses of the waterway in downtown Grand Rapids may be part of the long game of economic development, but a variety of companies have started banking on the notion that improvements will occur.
WYOMING — Stu Kingma often fields multiple phone calls per month from people interested in redeveloping Site 36, one of West Michigan’s most storied former industrial sites.
MUSKEGON — A group of a dozen investors wants to bring a world-class mixed-use development to a mile-long section of the Muskegon Lake shoreline that has been an industrial site for more than a century.
Stakeholders in West Michigan’s commercial real estate industry continue to express cautious optimism for the foreseeable future, despite the emergence of some headwinds.
GRAND RAPIDS — From an undisclosed $100 million foreign-backed fund to local real estate agents, investors of all kinds are staking their bets on the Grand Rapids housing market.
GRAND RAPIDS — When it comes to the possibility of redesigning one of Grand Rapids’ oldest downtown plazas, there’s a common refrain from people around the city: Something should be done.
New commercial real estate projects continue to pop up around West Michigan at a frantic pace.