numstead

New Embassy Suites - Monroe North

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They began demolishing the WAM building for the Monroe North Hotel. If you recall back, the developer was working on a hotel in Bay City/Midland area and that took up a lot of his time. He said looking back, he wishes he would have built the Monroe North hotel before the one in Bay City/Midland. It is projected to be completed in 18 months.

Edited by gvstudent

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They began demolishing the WAM building for the Monroe North Hotel. If you recall back, the developer was working on a hotel in Bay City/Midland area and that took up a lot of his time. He said looking back, he wishes he would have built the Monroe North hotel before the one in Bay City/Midland. It is projected to be completed in 18 months.

Seriously? They're going forward?

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It says no date for construction has been set in the article, so basically, all they are doing is tearing the existing building down.

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It says no date for construction has been set in the article, so basically, all they are doing is tearing the existing building down.

One good aspect is that the Rockford hotel company now owns the parcels involved. That's usually a good sign (usually).

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Bump.

I think they may be seeking an extension on the Ren Zone status of this (better than a cancellation of the project).

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Hopefully this is somewhat familiar to the UICA project- that had delay after delay but finally got done. Hopefully, with the economy slowly making a recovery this project can get off the ground.

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Bump.

I think they may be seeking an extension on the Ren Zone status of this (better than a cancellation of the project).

I thought, with a few exceptions that snyder got rid of all the tax credits. I didn't think that ren zone tax breaks were going to be available.

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I thought, with a few exceptions that snyder got rid of all the tax credits. I didn't think that ren zone tax breaks were going to be available.

Ren zones are primarily property tax breaks given by the City and County. I'm not sure how they would be affected by state decisions, but possibly not at all.

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Bump.

I think they may be seeking an extension on the Ren Zone status of this (better than a cancellation of the project).

Hotels in GR seem to be doing very well this year, which should still give some hope to this project.

Here is an article from USA Today earlier this week which in the 2nd to last paragraph speaks to GR's recovery... not sure I understand the quote though, 2 concerts don't cause a 24% increase in year-over-year rate. (and how is Vegas' 23% more than our 24%?)

http://travel.usatoday.com/hotels/post/2011/07/hotel-rates-fall-in-santa-fe-as-wildfire-scare-lingers-/176858/1

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Ren zones are primarily property tax breaks given by the City and County. I'm not sure how they would be affected by state decisions, but possibly not at all.

They also affect state tax liabilities. The state is honoring the tax credits that were awarded "by project," so I believe that's what the Hotel group is seeking, is another extension.

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Developers are downsizing the plans from $37.2 Million to $18 Million, and 238 rooms/235 car parking ramp to 160-180 rooms/175 car parking ramp. Asking for a 2 year extension on the development agreement. No images, unless someone happens to go to the City Commission meeting today.

$18 Million isn't bad, about the scale of Icon on Bond.

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Developers are downsizing the plans from $37.2 Million to $18 Million, and 238 rooms/235 car parking ramp to 160-180 rooms/175 car parking ramp. Asking for a 2 year extension on the development agreement. No images, unless someone happens to go to the City Commission meeting today.

$18 Million isn't bad, about the scale of Icon on Bond.

That is a 50% cut in the scope of this, which is how we ended up with a Icon on Bond.

In 2 years we will get a Motor Lodge and a 100 space parking lot.

I wouldn't give them an extension. Hasn't that lot been empty for 2 years already?

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That is a 50% cut in the scope of this, which is how we ended up with a Icon on Bond.

In 2 years we will get a Motor Lodge and a 100 space parking lot.

I wouldn't give them an extension. Hasn't that lot been empty for 2 years already?

At least two years. So....you don't give them the extension...then what? If there's not a market for a hotel right now, there's not a market for a hotel right now. And Suburban Inns owns the property, so they can sit on it and do nothing for as long as they want.

And what's wrong with Icon on Bond? Other than the wall could have been done better, it's a great project IMO (and it's full). The original Icon plan was ridiculous and never would have been built in GR.

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At least two years. So....you don't give them the extension...then what? If there's not a market for a hotel right now, there's not a market for a hotel right now. And Suburban Inns owns the property, so they can sit on it and do nothing for as long as they want.

And what's wrong with Icon on Bond? Other than the wall could have been done better, it's a great project IMO (and it's full). The original Icon plan was ridiculous and never would have been built in GR.

Wasn't Icon on Bond a failed condo development that was turned into high priced (by Grand Rapids standards) apartments?

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At least two years. So....you don't give them the extension...then what? If there's not a market for a hotel right now, there's not a market for a hotel right now. And Suburban Inns owns the property, so they can sit on it and do nothing for as long as they want.

And what's wrong with Icon on Bond? Other than the wall could have been done better, it's a great project IMO (and it's full). The original Icon plan was ridiculous and never would have been built in GR.

They were given tax-free renaissance zone status for the original plan, not something half the size years later.

So now they keep the credit and do nothing. 2 years from now they will be back looking for it again. Keep feeding us that credit and we might do something....maybe.

When they start turning dirt, then they can have renaissance zone status.

Icon on Bond is a similar bait-and-switch project. Two great buildings turned into one squat thing with a blank wall on the ground floor.

But they did something, so let's all have a cookie and celebrate.

For once it would be nice for developers to promise a modest development and actually over-deliver.

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They were given tax-free renaissance zone status for the original plan, not something half the size years later.

So now they keep the credit and do nothing. 2 years from now they will be back looking for it again. Keep feeding us that credit and we might do something....maybe.

When they start turning dirt, then they can have renaissance zone status.

Icon on Bond is a similar bait-and-switch project. Two great buildings turned into one squat thing with a blank wall on the ground floor.

But they did something, so let's all have a cookie and celebrate.

For once it would be nice for developers to promise a modest development and actually over-deliver.

If they don't extend the Ren Zone status, it's gone for good. New Ren Zones aren't available anymore. Besides, a Ren Zone status doesn't cost the city a dime until dirt is turned. It's just a filing status.

Icon wasn't two great buildings before. It was two ridiculous Miami Vice buildings that looked completely out of place. The finished product looks way better and is much more to scale to the Monroe North neighborhood. I haven't heard anyone complain about the wall lately. I've seen way worse in other cities, even in nice areas of downtown Chicago.

Wasn't Icon on Bond a failed condo development that was turned into high priced (by Grand Rapids standards) apartments?

It was a failed condo project. It's now a successful apartment project, which was probably what they should've done in the first place. But 5- 6 years ago, everyone thought the condo market was better and the housing market looked a lot different. Now apartments are going gang-busters downtown. Almost all of the new ones are full (38, Gallery).

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If they don't extend the Ren Zone status, it's gone for good. New Ren Zones aren't available anymore. Besides, a Ren Zone status doesn't cost the city a dime until dirt is turned. It's just a filing status.

Icon wasn't two great buildings before. It was two ridiculous Miami Vice buildings that looked completely out of place. The finished product looks way better and is much more to scale to the Monroe North neighborhood. I haven't heard anyone complain about the wall lately. I've seen way worse in other cities, even in nice areas of downtown Chicago.

So we are going to just string this along for however long they keep asking? Since the credit disappears for good if it is yanked, then there is no incentive to do anything within 2 or 7 years. The city can just keep granting extensions to keep the credit alive and then these developers can just put a Family Dollar there in 2023.

What's to stop them?

They got the credit for Plan A, now it's cut back (for whatever reason), and they get the extension to boot! So stand-by for the next scale-back and extension #3.

And as I remember no one here was complaining about the original Icon development plans as being silly or out of place. Everyone here was totally geeked for it. I don't recall any posts asking for something more modest or lamenting some out of place design.

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