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Macatawa/Custer Building

Yankee Fan

By Yankee Fan
in Grand Rapids

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Prankster Burg

Prankster

Posted
Posted

since everyone is talking about 400+ ft towers in Grand Rapids I thought I would ask why was the Lyon and Ottawa tower cancelled?...

From what I heard, they were courting Varnum and Bank One, but both tenants decided to re-up their leases at their current locations. It's been so long, though, that my memory could be a wrong. Us old folks tend to get that way. :D

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snoogit Town

snoogit

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From what I heard, they were courting Varnum and Bank One, but both tenants decided to re-up their leases at their current locations. It's been so long, though, that my memory could be a wrong. Us old folks tend to get that way. :D

You are correct, L&O lost two key tenants, although I dont know if the second was Bank One, I do know however that the first one was Varnum Riddering and Schmidt. (Attorneys, who now have VARNUM on Bridgewater Place)

L&O still could be built, but the timescales are suggesting its architecture might be getting a little bit stale. I think if we ever see L&O again, its not going to look like the old L&O.

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Prankster Burg

Prankster

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L&O still could be built, but the timescales are suggesting its architecture might be getting a little bit stale. I think if we ever see L&O again, its not going to look like the old L&O.

You're right about the design, it is definately more post modern. All the new buildings being built now seem to be more of a transparent Mies Van Der Rohe type.

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mpchicago Burg

mpchicago

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It is slow for sure. If I was the rockford / pepper team, having to daily witness the pace at the new Amway tower, I'd be s uper embarrassed.

The Amway boys are holding a clinic over there on how to put up a beatiful tower at a crazy fast pace. I am sincerely impressed.

The funny thing is that Rockford/Pepper is working on both. The GRAM is apparently a pretty complicated design.

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GRDadof3 Ecumenopolis

GRDadof3

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Yep, but I wouldn't think it's any more complicated than a huge hotel tower..... maybe the difference is better management at the Amway job than GRAM ?

It's the same construction company. Same execs, same management team, just different individual project managers (as far as we all know). Personally I thought it was a pretty long year and half watching the hotel go up step by step (from my vantage point).

The Burj Dubai went from about 400 ft to its current height of about 1510 ft in the same time period, with floors getting progressively smaller as they went up (of course, using slave labor). :lol:

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Raildudes dad Hamlet

Raildudes dad

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It's the same construction company. Same execs, same management team, just different individual project managers (as far as we all know). Personally I thought it was a pretty long year and half watching the hotel go up step by step (from my vantage point).

IIRC, didn't the construction on the museum stop for a while due to "funding" issues? No funding problems for the hotel owners :whistling:

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BigPlayJ Unincorporated Area

BigPlayJ

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A client of mine was a sub on both projects. He told me it was a combination of the two. The concrete work on GRAM was much more complicated than on the JW. The JW was managed better. I guess they had trouble getting plans on time, etc. on GRAM. So the combination created the perfect storm so to speak.

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GRDadof3 Ecumenopolis

GRDadof3

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The old Custer Office building is up for sale:

http://blog.mlive.com/knapescorner/2009/05...ouldbe_dow.html

It sure would be nice to see something done with that corner. What an eyesore.

AccessKent has the SEV at $982,000, Taxable value as $853,000.

Asking price: $5 Million

Let's see, if we're just talking about the value of the parcel, the site is 132 x 131, or about 17,292 sf, or .396 acres. That means they want $12.6 Million per acre. :shok: I'd have to check, but I think that's 5x the amount Gilmore is paying for the lot on the other side of 50 Monroe. If you include the building in the equation, then the building is about 12,000 square feet (2 floors at about 6000 sf/each). So they want $833 per square foot for a building that's probably obsolete. There are buildings for sale downtown for $50 a square foot, or less, that aren't moving (Keeler Bldg).

3595368846_d5f523de37.jpg

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GRDadof3 Ecumenopolis

GRDadof3

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Pretty ridiculous in this market. It's prime property but in comparison, didn't Gilmore get a much bigger lot around the corner for ~$2.5 million? Maybe the price will come down during asset liquidation (just kidding :))?

Joe

I think Gilmore ended up buying for $1.9 Million, for just under an acre. That $5 Million has to be an error. Those are midtown Manhattan prices.

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GRDadof3 Ecumenopolis

GRDadof3

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that is prime real estate. you never know.

Why is it prime real estate? Is it worth more than the parking lot on the other side of 50 Monroe? (5x more?) Is it worth more than any other parking lot in the CBD? It's a very cramped lot, with not a lot of flexibility, that overlooks the loading docks of the art museum.

Just imagine if someone put up a house for sale in your neighborhood asking 5x the market value. You and your neighbors would be howling with laughter (or at least I would).

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