fbpx

Real Estate/Development

SPONSORED BY MICHIGAN ECONOMIC DEVELOPMENT CORP.

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. 

GRAND RAPIDS — A 240-unit affordable housing complex located on Lake Michigan Drive will be considered for final site plan approval on Thursday by the Grand Rapids Planning Commission. 

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.

GRAND RAPIDS — Spectrum Health has purchased the Brass Works Building on Monroe Avenue north of downtown and is scaling back plans for the construction of a new office building on adjacent land, MiBiz has learned.

CASCADE TOWNSHIP — A group of top leadership staff at Colliers International’s West Michigan office have launched a new commercial real estate brokerage firm. 

MANISTEE — The lakeshore city of just more than 6,000 people is seeing multiple new downtown developments that local officials and investors say are critical for reinvigorating empty storefronts, diversification and emerging better off after the pandemic.

MiBiz will launch a new weekly e-newsletter devoted to the region’s commercial real estate, development and construction sectors.   

Through multiple lockdowns and workplace restrictions, companies have altered the way they think about and use their commercial office space because of the COVID-19 pandemic. 

Recent year-end reports on non-residential construction activity softening and a plunging average project backlog are giving West Michigan construction leaders some reason for concern going into 2021.

Zachary Verhulst started Grand Rapids-based PURE Architects in August, about five months into the COVID-19 pandemic. Verhulst — who was named the 2019 Young Architect of the Year by the American Institute of Architects’ Grand Rapids chapter — believes the pandemic will cause a major shift in architecture and design, while social movements over the past year have underscored the need for more diversity in the industry.

The tourism and hospitality sectors took a major hit in 2020 but are expected to slowly rebound in 2021 with positive news about the COVID-19 vaccine. Experience Grand Rapids Executive Director Doug Small is among industry leaders predicting it will take longer than a year for tourism to return to pre-pandemic levels, but a few larger projects on the horizon could provide Grand Rapids with some momentum in the new year. Hotels hit historically low occupancy rates in 2020, and Kent County hit a low in April with an 18 percent average occupancy rate. Occupancy levels are expected to increase in 2021, but are still expected to fall short of pre-pandemic levels.

Ada-based Erhardt Construction Co. focuses on a variety of market sectors — including industrial, higher education, senior living, places of worship, office and retail — and has intentionally diversified to be better positioned when one market slows down. While CEO Ben Wickstrom is concerned about some industry trends he expects to see in 2021, including a shrinking backlog of projects, he is still mostly optimistic about a gradual rebound starting around midyear. He also hopes the pandemic underscores the value of revenue to municipalities that helps drive construction projects, and plans to closely watch productivity on projects amid new worksite regulations.

GRAND RAPIDS — The former Urban Institute for Contemporary Arts building in downtown Grand Rapids is officially on the market for $8.7 million.

GRAND RAPIDS — Acrisure LLC expects to complete its new global headquarters in downtown Grand Rapids’ Studio Park in the first quarter of 2021.

West Michigan construction firms saw projects in the hospitality and office industries slow down this year because of COVID-19 restrictions, leaving many to get creative and pivot to industrial and residential markets. 

The COVID-19 pandemic has brought ups and downs for West Michigan’s construction industry — activity and competition has increased in areas like school bond projects, while the hospitality and office sectors saw major slowdowns.

K-12 school bond projects have emerged as an increasingly reliable source of work for West Michigan construction and architecture firms, even though some districts opted to delay putting projects to a vote this year because of the pandemic.

State funding uncertainty during the pandemic has been a key factor in the lack of large construction projects this year at community colleges and universities.

The construction industry was one of many that was forced to switch up its workflow and get creative this year with the drastic changes, uncertainties, restrictions and additional safety protocols that were put in place amid the COVID-19 pandemic.

WALKER — Another piece of the puzzle fell into place this week that opens the potential development of a downtown Grand Rapids riverfront amphitheater.

WALKER — After withdrawing its planning application earlier this year to address residents’ concerns, a developer is again pursuing plans for a large scale mixed use housing project at Lincoln Country Club in Walker.

GRAND RAPIDS — Earlier this month, the Grand Rapids City Commission and the Grand Rapids-Kent County Convention/Arena Authority approved a memorandum of understanding that could result in a new 14,000-seat waterfront amphitheater downtown.

Land banks are emerging as an important resource to help fill the affordable housing shortage communities are facing in West Michigan and across the state.

West Michigan’s construction industry has long faced a talent shortage fueled by a worker exodus during the 2008 recession, stigma around going into skilled trades, and firms failing to recruit a diverse workforce. 

GRAND RAPIDS — The owners of the 20 Monroe Live concert venue space and The B.O.B. are looking to sell their downtown real estate as the COVID-19 pandemic continues to ravage the entertainment and hospitality industries, MiBiz has learned.

GRAND RAPIDS — The Grand Rapids-Kent County Convention/Arena Authority has approved plans for a public-private partnership that relocates sewer infrastructure allowing for a waterfront amphitheater downtown.

Integrated Architecture LLC was among several local firms recognized at the Grand Rapids chapter of the American Institute of Architects’ 2020 awards, receiving multiple commendations for its design of the new ADAC Automotive headquarters.