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Real Estate/Development

SPONSORED BY MICHIGAN ECONOMIC DEVELOPMENT CORP.

As national trends show a rapid decline in the value of shopping malls, West Michigan commercial real estate experts are most worried about the fate of RiverTown Crossings in Grandville.

EAST LANSING — An East Lansing real estate investment firm looks to raise $200 million to invest in industrial logistics facilities in the Midwest and southeastern U.S.

GRAND RAPIDS — The eight-story office tower Spectrum Health plans to build will bring a major new redevelopment and hundreds of employees to the Monroe North neighborhood near downtown Grand Rapids.

Have Mercy, the state-funded shelter for Montcalm and Ionia counties, recently received a $500,000 grant through the Federal Home Loan Bank of Indianapolis as well as $5,000 from Mercantile Bank of Michigan.

GRAND RAPIDS — Four new housing options located in downtown Grand Rapids will be available to first year and transfer Grand Valley State University students in the fall.

GRAND RAPIDS — The Western Michigan University Cooley Law School building in downtown Grand Rapids is on the market for $19.8 million.

GRAND RAPIDS — Wolverine Building Group has expanded its footprint to Southeast Michigan with the acquisition of Brighton-based construction firm Contracting Resources Inc.

GRAND RAPIDS — Two years after it rejected a similar plan, the Grand Rapids Planning Commission has approved a developer’s 30-unit apartment complex over objections from some nearby residents.

WALKER — Developers are planning a 552-unit apartment complex at the English Hills Country Club property in Walker.

KALAMAZOO — Kalamazoo County is determining how to allocate funding from a recently approved housing millage after a failed attempt to turn the vacant Lakeside Academy campus into a much-needed housing development.

First-time homebuyers could save for a down payment or closing costs through new tax-exempt savings accounts under legislation that’s designed to promote home ownership and retain talent in Michigan.

GRAND RAPIDS — The Brix at Midtown Apartments in Grand Rapids has sold for $68.25 million to a New York City-based real estate and development firm, the buyer announced Friday.

State economic development officials on Tuesday approved brownfield incentives and performance based loans for three mixed-use apartment projects in Grand Rapids, Kalamazoo and Middleville. 

GRAND RAPIDS — A Detroit-based real estate development firm plans to renovate the historic Sligh Furniture Co. building to create 753 housing units and 22,647 square feet of ground floor retail space.

ROCKFORD — The owner of prime downtown property along the Rogue River is suing city officials over “unlawful, discriminatory, unreasonable and confiscatory zoning practices” that are allegedly preventing successful developments there.

The COVID-19 vaccine is “the ticket out” of the pandemic and will play a key role in employees’ return to the workplace, state officials said Monday while announcing a workgroup to provide recommendations for office safety.

KALAMAZOO TOWNSHIP — A 280-unit apartment complex near Kalamazoo has sold for $19.65 million to Bender Companies, a Chicago-based multi-family real estate investment firm.

BIG RAPIDS — With recent approval to begin construction on a new facility, Ferris State University will eventually have a new home for a variety of degree programs while helping the school to develop more dynamic and effective methods of online learning.

In a typical year, around 40,000 office workers a day are in downtown Grand Rapids buying coffee or lunch, or sticking around to shop or attend an event. 

The West Michigan lakeshore office market has remained relatively stable during the COVID-19 pandemic compared to larger cities like Grand Rapids, Detroit and Chicago, according to city officials and real estate experts. 

In Michigan’s 24 cities with local income taxes, work from home restrictions this past year that are still largely in place for office workers have caused multi-million-dollar budget gaps.

Workers in Michigan’s 24 cities with local income taxes still need to file a 2020 tax return with the city where their employer is based — even if most of last year was spent working from home.

GRAND RAPIDS — A planned mixed-use development calls for demolishing a former YMCA building on Grand Rapids’ West Side and replacing it with four stories of retail and 119 apartment units.

KALAMAZOO — Construction recently wrapped up on the $14.7 million mixed-use Creamery development in Kalamazoo, which includes 48 apartment units at affordable rates. 

GRAND RAPIDS — One Trick Pony Grill & Taproom and the nearly century-old Cottage Bar and Restaurant have both sold a year after one of the owners announced plans to retire and find a buyer for the businesses.

KALAMAZOO — A new hotel under the REVERB by Hard Rock brand is planned for the former Gibson Mandolin-Guitar Manufacturing Co. building in Kalamazoo.

GRAND RAPIDS — A new conceptual plan from Grand Action 2.0 outlines a host of downtown development possibilities along the Grand River and Market Avenue corridors. 

HOLLAND — A luxury five-story residential and commercial building planned in Holland received approval Tuesday from the Michigan Strategic Fund board for $2.2 million in brownfield incentives. 

GRAND RAPIDS — Rockford Construction Co. Inc. added an executive to oversee the company’s health care division as the Michigan State University Grand Rapids Innovation Park project, which includes the Perrigo North American headquarters relocation, gets underway.

The West Michigan commercial real estate market has been relatively stagnant during the pandemic-induced shift to remote working, but advisers see some room for optimism ahead of a vaccine rollout and with several recent office deals. 

KALAMAZOO — Julie Byrne was recently appointed as president of CSM Group Inc. after working at the construction management firm for 15 years. 

GRAND RAPIDS — Real estate investor Tim Engen has formed a new company that will focus on construction projects in the office, medical, industrial and retail sectors.

HOLLAND — The CityFlatsHotel in Holland is joining the Tapestry Collection by Hilton, with the brand affiliation becoming official on March 15.

HOLLAND TWP. — Harbor Steel & Supply Corp. will be investing $2.4 million into expanding one of the four locations that it operates in West Michigan.

GRAND RAPIDS — The Grand Rapids-Kent County Convention/Arena Authority and the city of Grand Rapids have taken another step to advance plans for an outdoor amphitheater on riverfront property near downtown.

GRAND RAPIDS — City officials have approved United Methodist Community House’s plan to expand its services and construct a new four-story, 93-unit affordable senior apartment facility.

GRAND HAVEN — A planned 124-unit apartment development in Grand Haven has been approved for a Michigan Community Revitalization Program loan for $4.75 million along with $1.38 million in brownfield incentives.

GRAND RAPIDS — The largest privately held insurance brokerage in the world, Lockton Companies Inc., is expanding its Michigan operation by opening an office in downtown Grand Rapids. 

SAND LAKE — The first cannabis dispensary in Sand Lake is opening Friday to sell exclusively recreational cannabis.

GRAND RAPIDS — Five recreational cannabis dispensaries will be operating in the city of Grand Rapids by Friday morning. 

GRAND RAPIDS — In-house food delivery and expanded outdoor capacity are just a few pandemic lessons Rob Schellenberg has learned as he prepares to open a new bar with live music space on Grand Rapids’ West Side.

The COVID-19 pandemic has led to widespread uncertainty about the future of commercial office space, including for the relatively new sector around coworking, or flexible workplaces.

Owners of historic homes and buildings will soon be able to apply for funding through a newly reinstated state tax credit for historic preservation projects that was eliminated in 2011 as part of former Gov. Rick Snyder’s tax reform strategy.

GRAND HAVEN — A 133-unit condominium and apartment project gained unanimous final site plan approval Tuesday from the Grand Haven City Planning Commission.

WALKER — The Walker Planning Commision is set to consider plans for two conjoined hotels totaling 156 rooms just south of I-96.

Real estate experts from Colliers International’s West Michigan office predict the market in 2021 will have pent-up demand with some improvement in most sectors from last year. But that will depend on the rate of COVID-19 cases and how the vaccine is rolled out.

GRAND RAPIDS — Amplify GR and Rockford Construction Co. were awarded about $2.2 million in tax incentives Tuesday to redevelop an industrial site on the city’s south side for a data management company.

GRAND RAPIDS — Finishing touches are being added to the completely renovated building near downtown Grand Rapids that was transformed into the new headquarters for Integrated Architecture LLC.