nurfle!

Kendall Building to be redeveloped?

57 posts in this topic


Chris Knape is now reporting that the Kendall Building is to be renovated into twelve two-bedroom apartments with ground-level retail.

:shok::shades::yahoo::alc:

Brice seems to have the Midas Touch! If this project goes through, and someone finally fixes up and occupies the JA Building by the time GonF gets finished, I just might weep with joy.

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Godspeed! I've been through that building on multiple occasions. I know what Brice is up against, and it ain't pretty.

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Godspeed! I've been through that building on multiple occasions. I know what Brice is up against, and it ain't pretty.

I will second that emotion.

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There was lots of fire damage wasn't there? I heard it has sat vacant for so long because the owner wasn't concerned about selling, just getting the right price which was really high. It is a great location and I'm glad more and more of these in depth and costly projects (also the project on division at oaks) are finally being undertaken now that many other less involved projects have been completed. Does anyone know anything about the price range on the apartments? And while I'm at it, lets hear it for NEW APARTMENTS!

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Was Azzar visited by the ghosts of developments past, present, and future? (might be mistaken about the owner)

If this is in the works, it will be an 100% happy dance moment for sure!

Edited by GR_Urbanist

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Does anybody know what the asking price was? I'm curious whether Azzar got his inflated* price for it, or if he was actually negotiated down.

*According to many people here, I have little knowledge of market prices for downtown property.

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Does anybody know what the asking price was? I'm curious whether Azzar got his inflated* price for it, or if he was actually negotiated down.

*According to many people here, I have little knowledge of market prices for downtown property.

According to CARWM, he still has the $750,000 asking price. There is some fire damage, but a lot of it is just decay and rot, with a lot of holes in the floors. Apparently Azzar had some guys do some demolition about 7 or 8 years ago, but they didn't get very far. If anyone saw Fox Lofts prior to demolition, it was in much of the same shape (maybe worse).

It has some great views:

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Some interior shots:

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The back is pretty cool (demolition chute from previous work can be seen):

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Doesn't Azzar have a history of changing the rules after he agrees to something? Asking for more money at the closing table? Let's not count our chickens here. A tiger does not change his spots...

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Doesn't Azzar have a history of changing the rules after he agrees to something? Asking for more money at the closing table? Let's not count our chickens here. A tiger does not change his spots...

I think that was only one situation (that I know of). But you're right, hopefully the closing happens in March. I think too that the DDA planned to rebuild that portion of the sidewalk once they got the areaway filled in.

(btw: great to have you back Brian :hi: )

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Lord hear our prayer.

Where they gonna park??

38 Commerce ramp? Pioneer is getting it ready for construction. I'll post some pictures that I took today in that thread.

~John

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One of my favorite buildings downtown. Now, if we could just get Reynold's & Sons to do the same... The park and sidewalks around the Civil War Monument are in need of a re-do but what a location - I'd live there in a minute.

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This is great, though I'm definitely riding the cautiously optimistic bandwagon. I have visions of Azzar pulling the paper off the table as Brice tries to sign, yelling *sike*. But I also imagine Azzar with giant shackles and a dusty robe like Scrooge so I may be a bit dillusional. ;)

Joe

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I think that was only one situation (that I know of). But you're right, hopefully the closing happens in March. I think too that the DDA planned to rebuild that portion of the sidewalk once they got the areaway filled in.

(btw: great to have you back Brian :hi: )

Not sure which time you are referring to Dad, but that is what happened at the park Lighthouse was trying to buy in the summer of 07. Then when we tried to get the courts to enforce the buy sell he litigated us to death. We finally gave up. Imagine that, having to take someone to court to sell you a property for 5 times its worth only to lose. Just hearing the name Azar gives me hives.

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I really hope this redevelopment goes through. Based on Chris's article, it appears a lot of the redevelopment cost was going to be defrayed though tax credits.

Recently a redevelopment on 630(ish) Wealthy St was not granted Renaissance tax credit extensions for the residential portion of the project, which was 1/2 the project, and extended for the ground floor retail. The developer scuddled the plans and the building continues to sit vacant. Since 4/5ths of this project is residential, will it truly go forward if the tax credit isn't there? And if it is extended for this project, is there a double standard?

Edited by plee30

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I really hope this redevelopment goes through. Based on Chris's article, it appears a lot of the redevelopment cost was going to be defrayed though tax credits.

Recently a redevelopment on 630(ish) Wealthy St was not granted Renaissance tax credit extensions for the residential portion of the project, which was 1/2 the project, and extended for the ground floor retail. The developer scuddled the plans and the building continues to sit vacant. Since 4/5ths of this project is residential, will it truly go forward if the tax credit isn't there? And if it is extended for this project, is there a double standard?

I think they are weighing the projects on an individual basis. I think that the Wealthy project wasn't seen as a good trade off for lost tax revenue, this one might.

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I really hope this redevelopment goes through. Based on Chris's article, it appears a lot of the redevelopment cost was going to be defrayed though tax credits.

Recently a redevelopment on 630(ish) Wealthy St was not granted Renaissance tax credit extensions for the residential portion of the project, which was 1/2 the project, and extended for the ground floor retail. The developer scuddled the plans and the building continues to sit vacant. Since 4/5ths of this project is residential, will it truly go forward if the tax credit isn't there? And if it is extended for this project, is there a double standard?

That won't be an issue, because the Kendall Building is not in a Renaissance Zone, so it's not eligible for a Ren Zone extension (AFAIK). It did receive Brownfield Tax Credit approval from the city though (and then on to the State for approval). I think that's worth about 10% of how much you plan to invest, so in this case it might be as much as $400,000. It's also eligible for a few credits/grants from the DDA (according to the article).

They're also going to make the project LEED Certified, according to the City.

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I hope they re-use some of the historical doors and trim. There are some cool art deco features as well as some beautiful old wood.

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I hope they re-use some of the historical doors and trim. There are some cool art deco features as well as some beautiful old wood.

Well, if they are going for LEED certification, I'm pretty sure they get points for that. I really love that LEED is so well used in this city. Sure, it's not a perfect system (see the single bicycle rack located at the ass of the new art museum by the loading dock at Ottawa and Louis that I'm guessing they claimed for points), but it sets a great example for communities around us and all over the country.

Edited by fotoman311

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I hope they re-use some of the historical doors and trim. There are some cool art deco features as well as some beautiful old wood.

It's interesting that with the high ceilings, many of the solid wood doors have windows above them (you can see one example in my pictures above). I think a couple of the windows had printing on them of who the occupant was (Dentist office or something). But a lot of it looked beyond salvageable. There's a lot of water damage in the upper floors if I remember correctly.

The reuse of this building and others like 101 S. Division is really something that Grand Rapids should be very proud of. These buildings have been totally written off by multiple generations. And when you mention projects like this to most people, especially those in the construction trades, they think you're crazy.

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I say the city pony's up whatever any developer needs on any property currently owned by Azzar. I'm really happy to hear about the Kendall Building. I hope the Keeler Building is next!

Joe

That won't be an issue, because the Kendall Building is not in a Renaissance Zone, so it's not eligible for a Ren Zone extension (AFAIK). It did receive Brownfield Tax Credit approval from the city though (and then on to the State for approval). I think that's worth about 10% of how much you plan to invest, so in this case it might be as much as $400,000. It's also eligible for a few credits/grants from the DDA (according to the article).

They're also going to make the project LEED Certified, according to the City.

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