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38 Commerce Development


mgreven

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GRBJ Breaking News:

Parking commissioners will learn about a potential new downtown development Thursday morning that proposes to combine a pair of mixed-use projects in two buildings with a city-built parking ramp in the Heartside Business District.The development has been pegged for Commerce Avenue and Weston Street, just south of Fulton Street and near the Van Andel Arena............The property is owned by a group of investors doing business as 38 Commerce LLC and is managed by Kelwin Properties, a local development company.

http://www.grbj.com/GRBJ/Nav/Login.htm?Art...9-1FEE3610AE60}

Anyone know any more? Seven story ramp = possible big project! The city seems to be jumping on board fast.

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Fixed the link. I don't have a subscription, but does it include the entire block there all the way to Oakes? There was a rumor here on UP a LONG time ago that the old Maxies Bldg was going to be torn down and a parking ramp was going to go somewhere there along Commerce. I'll have to see if I can dig it up.

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This has been in the works for a while, and I spent a lot of time working on it last Spring (design and presentation graphics). I've been out of the loop on this since I left for school back in August, so it's nice to finally see some news.

All I'll say at this point is that this is a project that all of you UPers can get behind. Its going to be a very urban solution to the parking ramp problem. The concept presents mixed-use liner buildings, forming an inverted "L", around the North and West sides of the parking structure. You'll only see the parking structure from the south and from the alley to the east.

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This has been in the works for a while, and I spent a lot of time working on it last Spring (design and presentation graphics). I've been out of the loop on this since I left for school back in August, so it's nice to finally see some news.

All I'll say at this point is that this is a project that all of you UPers can get behind. Its going to be a very urban solution to the parking ramp problem. The concept presents mixed-use liner buildings, forming an inverted "L", around the North and West sides of the parking structure. You'll only see the parking structure from the south and from the alley to the east.

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Some more info from the Parking Commissions packet:

) Parking ramp shall be designed and constructed, to accommodate a future

proposed elevated walkway to the east of the parking ramp. Such

accommodation is at the expense of Sandbox 45, LLC

) 38 Commerce also anticipates that the Liner Buildings within this project will be

developed according to LEED standards.

) City agrees to provide the Developer or its assignees at market rate up to 72

parking passes in the Parking Ramp at designated spaces adjacent to the liner

building entrances, and allocated approximately evenly among the ramp

levels

) City agrees to provide at market rate, Corl-Knott Building up to 18 parking

passes

From the proposed contract language:

20. It is recognized that the Developer

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This would be one of the best things to happen to Commerce Ave. yet! I don't even have anything to cry poopy pants about! The building looks nice and should compliment the ramp at cherry and commerce well. I'm more geeked about the fact that yes the Cherry/Commerce ramp will be public accessible, and not just for Cooley students (yes!) Now all commerce needs is a fresh coat of pavement. (Oh I just had to mention that one really.)

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I'm surprised more people haven't weighed in on this. What does everyone think of the design?

I'm pretty optimistic that the city will approve this deal. They're covered if the developer defaults, and the parking ramp breaks even midway through year 3 based on their conservative pro-forma, and then starts making a pretty good profit after that.

They may raise concerns about the residential portion and the current housing market, but at 34,000 feet for the residential portion, that's not even half the size of Tall House and 240 Ionia, and it looks like it's only 35 units (counting balconies on the rendering). Let's hope they got the memo about making them "affordable". :) (scratch that, looks like it's only 28 residential units. Much more manageable).

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