DeVos Family Headquarters (Old 5/3 building)

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I apologize for the quality, but looks like they are adding the floor. 

 

 

[MJLO]

https://www.mlive.com/news/grand-rapids/2019/11/restaurant-retail-space-being-added-along-lyon-street-in-grand-rapids.html

Article is just a recap of the conversation regarding the addition of retail to the street level. 

My question is regarding the overall renovation of the 5/3rd center.  Sam Cummings said it’s going to cost almost $140 million to renovate the 5/3rd center.  Since they technically sold 200 Ottawa to RDV is the current work being done on that building included in the price?  Sounds like they have plans for the bigger building as well.  Have  they already been announced and I just missed that detail per usual?

[joeDowntown]

1 hour ago, MJLO said:

https://www.mlive.com/news/grand-rapids/2019/11/restaurant-retail-space-being-added-along-lyon-street-in-grand-rapids.html

Article is just a recap of the conversation regarding the addition of retail to the street level. 

My question is regarding the overall renovation of the 5/3rd center.  Sam Cummings said it’s going to cost almost $140 million to renovate the 5/3rd center.  Since they technically sold 200 Ottawa to RDV is the current work being done on that building included in the price?  Sounds like they have plans for the bigger building as well.  Have  they already been announced and I just missed that detail per usual?

I thought the same thing. $137M is a lot of $$$. The Lyon Street work will be $6M. So could we expect a new facade on the 5/3 building? A new building on the parking lot next to it? Excited to hear the details. 
 

I like that they are adding a snow melt system to Lyon Street as part of the Lyon Street work. 
 

Joe

[kwl]

Crazy if true, JW Marriott was only a $100MM build (~$127MM adjusted for inflation)/.

[GRDadof3]

8 hours ago, joeDowntown said:

I thought the same thing. $137M is a lot of $$$. The Lyon Street work will be $6M. So could we expect a new facade on the 5/3 building? A new building on the parking lot next to it? Excited to hear the details. 
 

I like that they are adding a snow melt system to Lyon Street as part of the Lyon Street work. 
 

Joe

I can't fathom that you'd ever get your money back in leases by dumping $137Million into the 5/3 building, unless you're adding 12 floors.  I wonder if they are adding on to it into the parking lot. 

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[GRDadof3]

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[Chisox]

Is there a height restriction covering this property?

[Allison Slater]

20 hours ago, ironyisadeadscene said:

When did they paint the back walls of the Pantlind? That was unexpected.

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1 hour ago, tSlater said:

When did they paint the back walls of the Pantlind? That was unexpected.

No idea. 

[mpchicago]

On 12/8/2019 at 12:00 PM, tSlater said:

When did they paint the back walls of the Pantlind? That was unexpected.

That's been painted for as long as I can recall.   Maybe it's been repainted recently, but been painted for a long while.

 

 

[kevin8gr]

Progress

[walker]

Someone's bound to post the link to the story about the Brazilian steakhouse that's going to take the place of the crane on Lyon.  It might as well be me:

MLIVE: brazilian-steakhouse-planned 

[MJLO]

Wow Texas de Brazil is pretty good.  Grand Rapids will be one of the smaller markets for the chain, but not the smallest.

[GRDadof3]

They've started taking the ugly stone facade off. This project came faster than expected. 

 

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Looks like they are starting to close it in.

 

 

[mpchicago]

I don't think I've seen this angle before. 

[GRDadof3]

How about this angle? They're going to town on the retail portion on Lyon. 

 

[Guest]

6 hours ago, GRDadof3 said:

How about this angle? They're going to town on the retail portion on Lyon. 

 

it's going to be a great transformation with some nice ground level retail... with an ugly-ass pig behind it...

[mpchicago]

On 3/13/2020 at 7:09 PM, Floyd_Z said:

it's going to be a great transformation with some nice ground level retail... with an ugly-ass pig behind it...

I'm going to respectfully disagree.   I've grown to really like the Fifth/Third Building.  I used to hate it, but its really grown on me.  

[GRDadof3]

I took pics today! Seriously urban walks are great for social distancing!

 

 

 

[Dj Augustine]

I believe the 5th 3rd building will get reskinned with glass.