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Real Estate/Development

SPONSORED BY MICHIGAN ECONOMIC DEVELOPMENT CORP.

The Michigan Senate passed a package of bills today that would allow municipalities to award a range of tax incentives to developers for affordable housing projects. 

GRAND RAPIDS — City officials expect to purchase riverfront property currently home to the Kent County Road Commission by fall of 2023, setting in motion plans for an amphitheater to be constructed roughly two miles south.

GRAND RAPIDS — Detroit-based Bobcat Bonnie’s restaurant is planning to open its first West Michigan location at the former Houlihan’s Restaurant and Bar in Breton Village.

KALAMAZOO — Prominent businesses and community organizations will soon move into the newly constructed mixed-use Warner Building in downtown Kalamazoo.

State lawmakers have introduced a bill seeking compromise in the ongoing dispute between local governments and real estate advocates over short-term rental property regulations.

WALKER — The city’s Planning Commission will consider a final site plan review on June 16 for the second phase of a proposed development that would allow the Kent County Road Commission to relocate its operations to Walker.

GRAND RAPIDS — Glass fabricator and installer Vos Glass LLC is planning to relocate within the city of Grand Rapids to accommodate growth and expansion.

Proposed changes to the Low Income Housing Tax Credit program administered by the Michigan State Housing Development Authority seek to increase access to the funding tool to communities beyond downtowns and city centers.

WALKER — Two former golf courses in the city of Walker are poised to be redeveloped into large-scale housing projects with a combined total of 757 rental units and 67 single-family homes.

Local officials and affordable housing advocates in Michigan have been vocally opposed to legislation that would make short-term rentals a permitted use in all residential zones.

West Michigan tourism officials are reporting upward trends in travel and hotel stays as COVID-19 restrictions lift, and leaders are optimistic about the local tourism economy for the rest of the summer.

GRAND RAPIDS — A Detroit-based developer recently acquired three properties near downtown Grand Rapids as part of a larger mixed-use plan to redevelop the former Sligh Furniture Co. building.

Municipalities could lose a significant amount of their authority to regulate short-term rental properties under legislation that was approved Tuesday by a state House committee.

The lifting of Michigan’s in-person work restrictions is a light at the end of the tunnel for remote workers eager to get back to the office, while others are hoping flexible work settings will stick long term.

GRAND RAPIDS — The lack of affordable housing supply is increasingly important for members of the Grand Rapids Area Chamber of Commerce, which is now helping lead a legislative effort to give municipalities more tools to advance projects. 

GRAND RAPIDS — A year after starting her boutique real estate law firm, Sara Lachman is moving operations to leased office space in an iconic downtown Grand Rapids building.

Michigan business leaders expect a strong third and fourth quarter this year as vaccinations and federal stimulus funds are deployed, while most companies expect a gradual return to in-person work, according to a survey by a statewide business roundtable.

WALKER — The Walker City Commission has approved plans for a new 285,000-square-foot speculative industrial manufacturing building and the creation of an industrial development district on the property.

GRAND RAPIDS — Construction is expected to start next spring at the historic Sligh Furniture Co. factory near downtown on what would be one of the city’s biggest housing developments in recent years.

Multifamily and industrial are the two hottest commercial real estate markets in West Michigan while the outlook for office and retail is comparatively less optimistic, according to a new first quarter commercial real estate trend report.

GRAND RAPIDS — New York City-based Magnus Capital Partners LLC is proposing to build 47 affordable apartments on the city’s west side. The site plan for the HŌM Flats development at 960 Bristol Ave. NW includes five separate buildings and would be available for households earning wages of 40 percent to 80 percent of the area median income. 

PLAINFIELD TWP. — The Plainfield Charter Township Planning Commission on Tuesday voted in favor of the Reimagine Plainfield Plan, which recommends ways to build vibrant places, encourage green space, and make Plainfield Avenue north of I-96 more of a destination.  

GRAND RAPIDS — The two-year redevelopment of the former Grand Rapids Christian High School building into a variety of uses, including 40 affordable apartment units, is now complete.

While Millennials are the largest generation by population and the largest group of homebuyers, the 25-to 40-year-old demographic also faces some of the steepest challenges to buying a home. 

The Generation Z workforce — once thought of as craving the opportunity to work from home, where they find flexibility and freedom from the watchful eye of a superior — happens to be the demographic that is most eager to return to the office.

GRAND RAPIDS — Conceptual plans for a massive mixed-use redevelopment on the block of the Sligh Furniture Co. building received Grand Rapids Planning Commission approval Thursday. 

WAYLAND — The Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians, or Gun Lake Tribe, will add a hotel and resort amenities as part of a $300 million expansion planned at its Gun Lake Casino, the tribe announced today.

The retail industry was among the hardest hit by COVID-19 restrictions and shutdowns, but West Michigan’s commercial real estate sector is showing signs of recovery and creating optimism among experts.

WALKER — The city’s Planning Commission approved the rezoning of the former Lincoln Country Club Wednesday, the first step in the new owner’s plan of constructing a mixed-use development on the site.

WYOMING — The owners of the Garage Bar & Grill are selling the bar to the owners of India Town, a restaurant located adjacent to the bar along South Division Avenue.

MUSKEGON — Grand Rapids-based RedWater Collection has entered into a purchase agreement to acquire its eighth golf course in West Michigan.

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.