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Just the scale of Faust's project compared to Plaza Towers and the AGP always cracked me up.

News coming relatively soon on this. I will TRY and break some news here first, if possible.  

Ummmm, guys...       http://www.mlive.com/news/grand-rapids/index.ssf/2017/12/see_the_201_market_proposal.html

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2 hours ago, GRLaker said:

Good lord...I can't believe it has been a year since I posted the last post on this thread regarding this project. I find it crazy that we haven't heard any news one way or the other.

I think the market nationally for large residential projects is cooling tremendously. Even in large "hot" cities there's a lot of absorption of inventory that needs to take place. And 201 was a lot of residential. Would love to see it though. Someday. 

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  • 5 months later...
2 hours ago, WMrapids said:

Looks like the city and Kent County are arranging an agreement to move city public works equipment from 201 Market to the county’s 1500 Scribner Avenue location.

https://www.mlive.com/news/grand-rapids/2020/01/grand-rapids-gets-option-to-purchase-14-acre-property-on-grand-river.html

 

Aren't they just going to be in the same position a few years down the road when that part of the river becomes a desirable area?  They need to move the city public works to a non-riverside location.   

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5 hours ago, sfloria said:

Aren't they just going to be in the same position a few years down the road when that part of the river becomes a desirable area?  They need to move the city public works to a non-riverside location.   

I think it will be quite a while until the county property becomes a desirable residential area.  The area west of North Monroe only has one residential development and a possible hotel.  It's kinda like the are north of NoMo, not much activity now, but once NoMo gets built out development will spread.

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8 hours ago, sfloria said:

Aren't they just going to be in the same position a few years down the road when that part of the river becomes a desirable area?  They need to move the city public works to a non-riverside location.   

I think it's almost impossible to find land in the city of that size any more.  At 14 acres and $7.75 million though, that's about $500,000/acre. Not as expensive as downtown, but a lot more expensive than what you'd pay way out on Alpine or other retail corridors. 

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18 hours ago, sfloria said:

Aren't they just going to be in the same position a few years down the road when that part of the river becomes a desirable area?  They need to move the city public works to a non-riverside location.   

I think it would be quite a while, maybe decades before redevelopment demand went that far up the river.  Even if it does only kick the can down the road I think it's a great strategic move to free up land that is currently much more valuable to the city  to redevelop now,  The 201 Market properties can bridge a gap between downtown and the all of the cool ass warehouses south of Wealthy.  The County property is  walled off by the railroad behind it, at the end of a mile long stretch of industrial properties, at the elbow of Richmond and Scribner that leads to miles of working class west side housing stock.  It's nowhere near the point of desirability to worry about potential gentrification. 

10 hours ago, GRDadof3 said:

I think it's almost impossible to find land in the city of that size any more.  At 14 acres and $7.75 million though, that's about $500,000/acre. Not as expensive as downtown, but a lot more expensive than what you'd pay way out on Alpine or other retail corridors. 

Does that take into account that the property already contains the infrastructure they need to move?

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4 hours ago, MJLO said:

I think it would be quite a while, maybe decades before redevelopment demand went that far up the river.  Even if it does only kick the can down the road I think it's a great strategic move to free up land that is currently much more valuable to the city  to redevelop now,  The 201 Market properties can bridge a gap between downtown and the all of the cool ass warehouses south of Wealthy.  The County property is  walled off by the railroad behind it, at the end of a mile long stretch of industrial properties, at the elbow of Richmond and Scribner that leads to miles of working class west side housing stock.  It's nowhere near the point of desirability to worry about potential gentrification. 

Does that take into account that the property already contains the infrastructure they need to move?

That I don't know. But they could use the county land for their facilities and still leave a portion of the riverfront as parkland. And there is something in the article about the lamprey barrier. Maybe they want to control the land where the barrier touches on each side. Is the barrier electric? I can't recall. 

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1 hour ago, joeDowntown said:

Still kicking the idea around. Flaherty and Collins has been really active over the midwest over the last couple of years. I wonder if they still have any interest in this project?

https://mibiz.com/sections/real-estate-development/grand-rapids-hires-firm-to-study-feasibility-of-relocating-from-201-market

Joe

Nothing will happen on this site until the City has moved off the site.

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2 hours ago, Ted said:

Nothing will happen on this site until the City has moved off the site.

I get that (unless they start digging around them. Haha). My thought was is is Flaherty and Collins even interested anymore, or should is it really more “someday, maybe, the city will put this site up for sale. And if they do, there will be a bidding process all over again). 
 

I’d honestly rather see more development in the core, west side and north Monroe before this, so I’m not anxiously awaiting for them to move on it. 
 

Seems like a 10-15 years down the road project. 
 

Joe

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  • 2 weeks later...
On 8/4/2020 at 3:14 PM, joeDowntown said:

Still kicking the idea around. Flaherty and Collins has been really active over the midwest over the last couple of years. I wonder if they still have any interest in this project?

https://mibiz.com/sections/real-estate-development/grand-rapids-hires-firm-to-study-feasibility-of-relocating-from-201-market

Joe

According to MIBIZ Flaherty and Collins, are out:

MIBIZ: gr-officials-pivot-after-lack-of-incentives-infrastructure-challenges-doom-development

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  • 2 months later...

Very interesting. Looks like Amway Hotel Corporation and 63 Market Avenue Holdings (owned by DeVos) are chipping in to push the Amphitheater project forward at 201 Market. I assume it would help the redevelopment of the parking lot on Fulton, and the Charley's Crab property. 

https://www.mlive.com/news/grand-rapids/2020/11/public-private-partnership-clears-hurdle-to-redevelop-land-eyed-for-14000-seat-grand-rapids-amphitheater.html

Joe

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18 hours ago, joeDowntown said:

Very interesting. Looks like Amway Hotel Corporation and 63 Market Avenue Holdings (owned by DeVos) are chipping in to push the Amphitheater project forward at 201 Market. I assume it would help the redevelopment of the parking lot on Fulton, and the Charley's Crab property. 

https://www.mlive.com/news/grand-rapids/2020/11/public-private-partnership-clears-hurdle-to-redevelop-land-eyed-for-14000-seat-grand-rapids-amphitheater.html

Joe

With the DeVos family getting behind this, it makes me all the more curious what they have planned for Charley's Crab and the parking lot. Hopefully something that will really draw people to the riverfront year round.

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Infrastructure work has been approved:

https://www.mlive.com/news/grand-rapids/2020/11/convention-arena-authority-approves-infrastructure-work-that-could-spur-development-of14000-seat-grand-rapids-amphitheater.html

it will be interesting to see what happens with the site. If they do build an Amphitheater, it still sounds like there will be developable land on the southern portion of property (another RFP coming at some point?).

Joe

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