Jump to content

38 Commerce Development

mgreven

By mgreven
in Grand Rapids

Recommended Posts

GaryP Burg

GaryP

Posted
Posted

^ 140 new apartments on commerce is significant! Hopefully some of the storefronts will start to fill in, maybe even with something other than restaurants/bars.

RapidGrowth has a story about it today

- 39 lofts for rent, from efficiencies to work/live and penthouse lofts

- Exposed brick and beams (I wonder if this will be replicated in the new portion?)

- Community skydeck

- Neighborhood cafe providing breakfast, lunch and catering (they're hiring btw)

- Move-ins by the end of November (this one is going to go fast!)

Link to comment
Share on other sites
  • 3 months later...

  • Replies 349
  • Created
  • Last Reply
GRDadof3 Ecumenopolis

GRDadof3

Posted
Posted

The city took up the issue of entering into a Purchase and Development Agreement with 38 Commerce yesterday at the Commission meeting. Anyone find out the result? The Committee As a Whole was recommending going ahead with the contract. They had originally set a date of March 31st, but it could not be met, so they tried again this week.

Link to comment
Share on other sites
RenZone Whistle-Stop

RenZone

Posted
Posted
The city took up the issue of entering into a Purchase and Development Agreement with 38 Commerce yesterday at the Commission meeting. Anyone find out the result? The Committee As a Whole was recommending going ahead with the contract. They had originally set a date of March 31st, but it could not be met, so they tried again this week.
Link to comment
Share on other sites
  • 5 weeks later...
  • 1 month later...
GRDadof3 Ecumenopolis

GRDadof3

Posted
Posted

Locus Development now has the purchase agreement in hand from the city (for the ramp) and financing lined up from Mercantile Bank. And since it will be 35 apartments, no pre-sold requirements need to be met to break ground. They're ready to go! In addition to apartments, two condos, retail and office, it will have a rooftop open-air bar for 150 patrons. Construction should start this Fall, and last about 15 months (late 2009 opening). Will we actually be treated to construction here and at Gallery on Fulton at the same time?

The article is in the Biz Journal, but they don't have it on their online version yet. Snail mail beat the internet??

The rendering looks about the same, except the top two floors have a different facade (instead of just the top floor in this rendering):

1895317518_edfceaaa33_o.jpg

Here, like this, only bigger:

small_20080505-38commerce.jpg

Link to comment
Share on other sites
GRDadof3 Ecumenopolis

GRDadof3

Posted
Posted

More from the Press

Couple of extra details:

) They plan to lease 4200 sf of the ground floor retail to a restaurant, which will be offered use of the elevator in the lease to gain access to the rooftop seating

) With the parking ramp being surrounded with the development, negating the need to add a Class A facade, they have lowered the cost of the ramp to about $28,000/space instead of the cost of about $36,000/space on recent ramps.

As mentioned in this thread, it probably won't work for every parcel due to size constraints, but it's definitely a model the city should replicate.

Link to comment
Share on other sites
GRGridGirl Hamlet

GRGridGirl

Posted
Posted

Glad to see this project is a go.

Patio-lovers at Rockwells and Republic need to soak up the love now because.... this building will block the amazing view of downtown from Rockwells deck and its not fun to sit on a patio with major construction going on in the backyard.

I love the energy on Commerce, its turning out to be quite the avenue.

Link to comment
Share on other sites
plee30 Whistle-Stop

plee30

Posted
Posted
Glad to see this project is a go.

Patio-lovers at Rockwells and Republic need to soak up the love now because.... this building will block the amazing view of downtown from Rockwells deck and its not fun to sit on a patio with major construction going on in the backyard.

I love the energy on Commerce, its turning out to be quite the avenue.

Link to comment
Share on other sites
GRDadof3 Ecumenopolis

GRDadof3

Posted
Posted
I wondered about this as well, since it sounds like the new place will have its own rooftop establishment.

But this brings up a unique situation for a developer, tenant, and neighboring property owners. Who owns the air (or view) rights? I understand that Grand Rapids doesn't have many buildings over 10 stories, or a lack of space to build out, but as we stress density in new developments, are there legal rights of neighboring property owner if someone decides to build and it blocks all of your views? Aren't there similar legal battles in NYC, where new building developments have been held up in courts because blocked views of Central Park? If I'm not mistaken, I believe Grooters had to overcome some of these hurdles with Riverhouse, before they could break ground....and I couldn't imagine a more difficult tenant to negotiate with.

Link to comment
Share on other sites
  • 2 weeks later...
  • 1 month later...

Archived

This topic is now archived and is closed to further replies.

Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.