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East Beltline Developments


GRDadof3

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On 6/18/2019 at 12:13 PM, EEKris said:

The businesses were owned by the Koukios brothers.  Jim owned Red Hot while Matthew owned Gus'.  Both properties appear to be owned by the same business entity though.

https://www.grbj.com/articles/93601-longtime-diner-closing-doors

https://www.grbj.com/articles/93602-east-beltline-restaurant-closing

 

Looks like Priority Health is buying these properties. 

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54 minutes ago, MJLO said:

Looks like Priority Health is buying these properties. 

Haha. You are SUPER late to the party (click back a page). :) 

There's an article in MiBiz that says Priority acquired the properties for $6 million. Sounds like an offer they couldn't refuse. 

Joe

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  • 2 weeks later...

Apparently Knapp's corner Meijer sells more booze than anywhere else in Michigan according to Mlive.   In typical Mlive hackery they list it as East Beltline NW, when no part of the EBL goes anywhere near the NW quadrant.  

https://expo.mlive.com/news/g66l-2019/07/49f2e9c77e5551/retailer-venue-with-most-2018-liquor-sales-for-each-michigan-county.html

48307463047_e413b15910_b.jpg

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2 hours ago, MJLO said:

Apparently Knapp's corner Meijer sells more booze than anywhere else in Michigan according to Mlive.   In typical Mlive hackery they list it as East Beltline NW, when no part of the EBL goes anywhere near the NW quadrant.  

https://expo.mlive.com/news/g66l-2019/07/49f2e9c77e5551/retailer-venue-with-most-2018-liquor-sales-for-each-michigan-county.html

48307463047_e413b15910_b.jpg

It surpassed TC, I'm pretty sure they were #1 last year. 

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4 hours ago, MJLO said:

Apparently Knapp's corner Meijer sells more booze than anywhere else in Michigan according to Mlive.   In typical Mlive hackery they list it as East Beltline NW, when no part of the EBL goes anywhere near the NW quadrant.  

https://expo.mlive.com/news/g66l-2019/07/49f2e9c77e5551/retailer-venue-with-most-2018-liquor-sales-for-each-michigan-county.html

48307463047_e413b15910_b.jpg

And this is just high proof spirits. Doesn't count beer, wine, or low proof. One out of every ten bottles of high proof booze sold in the state goes through a Meijer store.

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  • 1 month later...

Cornerstone University's Christian radio station, WCSG  will vacate the former Grand Rapids Township fire station they've occupied for decades.   Construction is underway the former Reformed Baptist Church building on the NW corner of Bradford and the Beltline.    Wonder if they will try to sell the old fire station property that fronts a prime spot right on the Beltline or reuse?   My guess is they will retain the property. 

https://www.mlive.com/news/grand-rapids/2019/09/cornerstone-university-breaks-ground-on-new-57m-wcsg-radio-station.html

PQVKUOY53BG4TOWZF43GGSOYG4 (1).jpeg

Edited by mpchicago
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35 minutes ago, mpchicago said:

Wonder if they will try to sell the old fire station property that fronts a prime spot right on the Beltline or reuse?   My guess is they will retain the property. 

 

I know they have owned the corner lot (where the gas station is) for many years.  (unless they sold it prior to the recent rebuild)  I would expect they'll retain ownership of the 'fire station' building.

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3 hours ago, mpchicago said:

Cornerstone University's Christian radio station, WCSG  will vacate the former Grand Rapids Township fire station they've occupied for decades.   Construction is underway the former Reformed Baptist Church building on the NW corner of Bradford and the Beltline.    Wonder if they will try to sell the old fire station property that fronts a prime spot right on the Beltline or reuse?   My guess is they will retain the property. 

https://www.mlive.com/news/grand-rapids/2019/09/cornerstone-university-breaks-ground-on-new-57m-wcsg-radio-station.html

PQVKUOY53BG4TOWZF43GGSOYG4 (1).jpeg

Finally! That church was such an eyesore. 

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  • 2 weeks later...
11 hours ago, joeDowntown said:

That was in the original plan years ago. Has there been recent news? Can you provide more details?

Joe

Pretty average suburban hotel, just north of the theater, Holiday Inn Express, four stories.   Not sure on start date, but I would think it would be soon.

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  • 1 month later...
6 hours ago, Raildude's dad said:

North of the theater. Same developer is working on a hotel at 942 Front , Stellar Hospitality Jimmy Asmar

Boring, don’t they realize there’s already like 5 or 6 holiday inns (and expresses) in the area and the brand is kind of dying? There’s plenty of brands not tepresented or under represented in the market at similar price points. 

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8 hours ago, GR8scott said:

Boring, don’t they realize there’s already like 5 or 6 holiday inns (and expresses) in the area and the brand is kind of dying? There’s plenty of brands not tepresented or under represented in the market at similar price points. 

I would assume they do market research? :) The north end is somewhat underserved (compared to other areas). I'm still amazed at how many hotels you see popping up wherever you go (locally and out of state). Did we all sleep in our cars or in the bushes before all of these hotels came online? :) 

Are people really traveling that much more? Again, they do the market research, so people must be choosing to travel / stay overnight a lot more. Or people don't want their in-laws staying with them? haha

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24 minutes ago, joeDowntown said:

I would assume they do market research? :) The north end is somewhat underserved (compared to other areas). I'm still amazed at how many hotels you see popping up wherever you go (locally and out of state). Did we all sleep in our cars or in the bushes before all of these hotels came online? :) 

Are people really traveling that much more? Again, they do the market research, so people must be choosing to travel / stay overnight a lot more. Or people don't want their in-laws staying with them? haha

Even though it doesn’t make any sense, I read someplace (maybe here) that it may be because it is easier to get financing right now to build a hotel than to build an apartment or office building because lenders require commitments from future tenants for those before financing, particularly for office buildings.  When you’re a builder you build what you can finance.  Of course, the first things that get cut from budgets in an economic downturn is vacations and business travel so we’ll see how that works out.

Edited by walker
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Agreed there are tons of these 100 sor so room, express type hotels going in and yet still no flagships brands in the entire metro area! Not that this location should be a larger flagship but My issue was The brand. There’s actually already 7 holiday inn properties in the area already and I believe another one under construction by the airport bringing the total to 9. Meanwhile there are zero la quinta, cambria or several Marriott brands such as aloft, element or 4points. Many people especially “Marriott people” stay for the brand and if the economy dictated these kinds of hotels close I’m sure one of the 9 holiday inns would be almost the first to close

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1 hour ago, GRDadof3 said:

Did I read here or somewhere else that the Crown Plaza in Cascade on 28th is going to close? That place is a dinosaur. 

I don’t think it will close.  From what I read It might be going into recievership.  It needs like $15 million in capital upgrades to bring it to Crown Plaza brand requirements.  It was sold to a California investor in 2015 who’s been using it as a cash cow, and doesn’t have the means to secure that level of financing.  Worst case scenario IHG yanks their affiliation and it turns into the “Cascade Plaza Hotel” or something awful like that.

Hopefully a sale will be forced and ownership with means for proper investment steps in.  That area is still prime for a hotel that size, and an upscale brand.

Quote

The operators of Crowne Plaza Grand Rapids, a 320-room hotel near the Gerald R. Ford International Airport, have filed for Chapter 11 bankruptcy. Two related companies that operate the hotel, California-based Chhatrala Grand Rapids LLC and Bhogal Enterprises LLC, made separate bankruptcy filings on Sept. 16 in the U.S. Bankruptcy Court for the Western District of Michigan. In the filings, they claim their financial issues are related to the cost of improvements required by the hotel’s franchisor, England-based InterContinental Hotels Group PLC. In court filings, Chhatrala estimated it has between $0 and $50,000 in assets, but $10 million to $50 million in liabilities, while Bhogal said it had between $0 and $50,000 in assets and $100,001 and $500,000 in liabilities. 

 

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