MSU innovation building gets cleanup funding from city COURTESY RENDERING

MSU innovation building gets cleanup funding from city

BY Wednesday, July 24, 2019 11:32am

GRAND RAPIDS — The second phase of Michigan State University’s downtown medical innovation campus received its final approval from the city of Grand Rapids.

The city’s Brownfield Redevelopment Authority has approved a development and reimbursement agreement with Health Innovation Partners LLC for the next phase of development at the Grand Rapids Innovation Park, located at the northeast corner of Michigan Street and Monroe Avenue.

Health Innovation Partners plans to build a 200,000-square-foot building to be partially occupied by MSU, with the majority of the space leased to private-sector partners. This phase of the project, which started with the adjacent Grand Rapids Research Center completed in 2017, will begin in October and includes a 600-vehicle parking ramp, which is necessary to meet city parking requirements. Some of the spaces will be available to the public.

“This is an exciting proposal that expands the capacity and capabilities related to research and innovation at the Grand Rapids Innovation Park,” said Kara Wood, the city’s managing director of economic development services, in a statement. 

The latest agreement provides for reimbursement for eligible activities totaling about $29 million. The brownfield reimbursement covers the cost of the parking ramp, site preparation and infrastructure improvements on the property.

The project is estimated to involve $83 million in private investment and result in the creation of 250-300 jobs. 

The public-private partnership between MSU and Health Innovation Partners — a joint venue of Chicago-based MB Real Estate, Chicago-based Walsh Construction/Walsh Investors and Rockford Construction Co. Inc. — will continue to facilitate development on the 4.2-acre property. A site map shows another possible building at Monroe Avenue and Michigan Street in a future phase.

The university plans to complete construction on the current phase of the project in 2021.

MSU’s $88.1 million Grand Rapids Research Center opened downtown in 2017, and added a western anchor to Medical Mile at 400 Monroe Ave. NW, the site of the former Grand Rapids Press headquarters. The latest proposal creates a plan for the second phase of build-out at the site.

In 2015, the city’s Brownfield Redevelopment Authority obtained a $1 million grant from the Michigan Department of Environmental Quality to assist in the demolition of the former Grand Rapids Press headquarters and clean up contamination on the property. At that time, the authority also approved a brownfield plan for future development on that site, which was to be completed by private developers.

Read 2002 times Last modified on Wednesday, 24 July 2019 11:41
SUBSCRIBE TO MIBIZ TODAY FOR WEST MICHIGAN’S FINEST BUSINESS NEWS REPORTING >