2 East Fulton

[Prankster]

Just a little update on this building. While going through the agenda for the City Commission for next week, I noticed an amendment proposal for 2 East Fulton. Tol is now requesting permission to add 4 floors to the existing building. I'm not sure if this is in addition to the 14 story condo tower that he was proposing to add on to it, but it sounds like to me that he is looking to scale back the project big time. Hopefully that isn't the case. Anyone with any inside info care to shed some light on this latest turn of events?

[Josh]

I really hope that the 14 story tower proposal is still in place. That surface parking lot needs to be filled in with this high density project. Hopefully the requested 6 story addition is in addition to the condo tower. I hope this project isn't scaled back too much, because this would be a fantastic addition to the Division/Fulton area!

[superNOVA]

Actually, anything that would rehab the JA building (or remove it) and that corner in general is fine with me. I would like to see a 14 storey building, but I could care less at this point.

[joeDowntown]

It was built to be larger, so it could handle the load. I agree, If they can do the JA building up nice, Park Place can come later (or some other project). That lot WILL get developed, it is just a matter of time.

Joe

[GRDadof3]

Just a little update on this building.  While going through the agenda for the City Commission for next week, I noticed an amendment proposal for 2 East Fulton.  Tol is now requesting permission to add 4 floors to the existing building.  I'm not sure if this is in addition to the 14 story condo tower that he was proposing to add on to it, but it sounds like to me that he is looking to scale back the project big time.  Hopefully that isn't the case.  Anyone with any inside info care to shed some light on this latest turn of events?

<{POST_SNAPBACK}>

Did anyone go to this meeting and can report back anything? I believe it was this morning:

http://www.ci.grand-rapids.mi.us/meeting.p...387&type=agenda

[mgreven]

Doesn't look like the 14 stories are coming soon, but at least something is.

Date: June 22, 2005

Enclosed is a resolution for the City Commission to schedule a public hearing on July 26, 2005

at 7:00 p.m. regarding an amendment to the Brownfield Plan to add property at 2 East Fulton

(the former J.A. Building). Owner Bob Tol is planning to rehabilitate this long vacant two-story

building and add four stories. It will be used for retail, commercial and residential space and

can house from 20 to 50 employees. The building is functionally obsolete and is in general

disrepair. It has been a blight on this prominent corner of downtown Grand Rapids.

The developer expects to invest $4.6 million. They are requesting TIF reimbursement of

$130,000 for demolition to remove outdated mechanical, electrical, plumbing,

telecommunications, walls and exterior materials. Twenty percent of the tax increment will be

captured for administrative costs and $1,000,000 plus interest is dedicated for replacement of

Division Avenue from Fulton to Weston.

YOUR COMMUNITY DEVELOPMENT COMMITTEE recommends the adoption of the

following resolution setting a public hearing on an amendment to the Brownfield Plan of the

City of Grand Rapids Brownfield Redevelopment Authority related to the 2 East Fulton, LLC

The Amendment applies to property located at 2 East Fulton (the former J.A. Building),

Grand Rapids, Michigan. The Project described in the Amendment includes rehabilitating this

long vacant two-story building and adding four stories for retail, commercial and residential

use. The developer expects to invest $4.6 million and can house 20-50 employees.

All information related to the Project and the Amendment, including maps and a description

of the Project and the Amendment is available for public inspection at the City's Economic

Development Office, 9th Floor, City Hall, 300 Monroe Avenue, N.W., Grand Rapids, Michigan,

between the hours of 8:00 a.m. and 5:00 p.m. weekdays.

[Prankster]

Doesn't look like the 14 stories are coming soon, but at least something is.

Date: June 22, 2005

Enclosed is a resolution for the City Commission to schedule a public hearing on July 26, 2005

at 7:00 p.m. regarding an amendment to the Brownfield Plan to add property at 2 East Fulton

(the former J.A. Building). Owner Bob Tol is planning to rehabilitate this long vacant two-story

building and add four stories. It will be used for retail, commercial and residential space and

can house from 20 to 50 employees. The building is functionally obsolete and is in general

disrepair. It has been a blight on this prominent corner of downtown Grand Rapids.

The developer expects to invest $4.6 million. They are requesting TIF reimbursement of

$130,000 for demolition to remove outdated mechanical, electrical, plumbing,

telecommunications, walls and exterior materials. Twenty percent of the tax increment will be

captured for administrative costs and $1,000,000 plus interest is dedicated for replacement of

Division Avenue from Fulton to Weston.

YOUR COMMUNITY DEVELOPMENT COMMITTEE recommends the adoption of the

following resolution setting a public hearing on an amendment to the Brownfield Plan of the

City of Grand Rapids Brownfield Redevelopment Authority related to the 2 East Fulton, LLC

The Amendment applies to property located at 2 East Fulton (the former J.A. Building),

Grand Rapids, Michigan. The Project described in the Amendment includes rehabilitating this

long vacant two-story building and adding four stories for retail, commercial and residential

use. The developer expects to invest $4.6 million and can house 20-50 employees.

All information related to the Project and the Amendment, including maps and a description

of the Project and the Amendment is available for public inspection at the City's Economic

Development Office, 9th Floor, City Hall, 300 Monroe Avenue, N.W., Grand Rapids, Michigan,

between the hours of 8:00 a.m. and 5:00 p.m. weekdays.

<{POST_SNAPBACK}>

Good catch mgreven. This answers the question on what is being done. Hopefully the large parking lot on the east side of the building will not be there for very long. It is too prime of a piece of real estate to waste another surface lot.