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joeDowntown

Studio Park - $140 Million Celebration Cinema/mixed use project

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it still has quite a bit to go as it goes all the way to Ottawa and wraps around the parking ramp. But at this rate, it seems like they could get all the steel up in a week? Maybe two? Amazing how fast it’s moving!

Joe

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Great photo!   The speed at which this structure is going up makes me hope that they'll start construction on the 2nd building this year. 

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8 hours ago, joeDowntown said:

Photo from today that shows the whole site. It looks like The elevator shaft is being built, which may slow down the steel for a bit (though the stairwells have gone up fast, so this may move quickly). 
 

96B8ADE2-5F1E-47DB-8AB8-D069B9CAB5AF.jpeg

 

86624126_2982293225135288_5992818991104524288_n.jpg

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25 minutes ago, Khorasaurus1 said:

Is the building going to extend all the way to Ottwa, or is there going to be a plaza/pocket park in the bend in the road?

The building will extend out past where the parking garage ends, all the way to sidewalk on Ottawa.  Not sure how wide sidewalk will be, but don't see that there would be room for a pocket park.   If you look at pic that Joe took, I think you can see where they are working on the foundation along Ottawa.   While the latest rending that Chris posted above is small and hard to see detail,  I still like what I see. 

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1 hour ago, mpchicago said:

The building will extend out past where the parking garage ends, all the way to sidewalk on Ottawa.  Not sure how wide sidewalk will be, but don't see that there would be room for a pocket park.   If you look at pic that Joe took, I think you can see where they are working on the foundation along Ottawa.   While the latest rending that Chris posted above is small and hard to see detail,  I still like what I see. 

Ok, so there's still a lot more steel to go up, in the western portion of the site. 

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1 hour ago, Khorasaurus1 said:

Ok, so there's still a lot more steel to go up, in the western portion of the site. 

It'll go up Ottawa, but it stops at the parking entrance. you can see it in the rendering above. I think the "pocket park" you're referring to (grass next to the parking structure that goes from the parking ramp entrance to Cherry Street) will stay.

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Based on this it gives you an idea of how far past the parking structure it will extend West. I'll see if I can wire frame it. 

 

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Anyone have any new photos? This was on my Instagram feed, and you can see the steel all the way to the parking. Looks like they’ve made a lot of progress since last week

 

2396E56A-D5E9-4E1A-80F2-290107FBF52F.jpeg

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1 minute ago, joeDowntown said:

87402641-C8A1-4EA7-9921-2BA096E13477.jpeg

Nice! Wonder why they started from each end? Must be some science/good practices behind that. 

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Looks like Loeks is closing on 158 Oakes in March, the lot to the West of the Ottawa Avenue extension where Acrisure Phase II is planned.  You usually don't close on a lot that you don't have immediate plans for.

Approved Development Agreement for 158 Oakes Street SW

The Board approved a purchase and development agreement with Loeks Theater, Inc. for DDA-owned land at 158 Oakes Street SW. The 40,000 sq ft property sits immediately adjacent to the Studio Park.

The DDA in May 2019 issued a Request for Proposals to solicit and identify interest in the property. Three proposals were received and considered. The Loeks proposal includes 175,000 square feet of Class A office building and a new parking supply that support the move of several hundred new jobs from outside the City into Downtown Grand Rapids.

With the DDA’s approval, the Executive Director and DDA legal counsel will work to finalize closing the deal for the property in March 2020.

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14 hours ago, GRDadof3 said:

Looks like Loeks is closing on 158 Oakes in March, the lot to the West of the Ottawa Avenue extension where Acrisure Phase II is planned.  You usually don't close on a lot that you don't have immediate plans for.

Approved Development Agreement for 158 Oakes Street SW

The Board approved a purchase and development agreement with Loeks Theater, Inc. for DDA-owned land at 158 Oakes Street SW. The 40,000 sq ft property sits immediately adjacent to the Studio Park.

The DDA in May 2019 issued a Request for Proposals to solicit and identify interest in the property. Three proposals were received and considered. The Loeks proposal includes 175,000 square feet of Class A office building and a new parking supply that support the move of several hundred new jobs from outside the City into Downtown Grand Rapids.

With the DDA’s approval, the Executive Director and DDA legal counsel will work to finalize closing the deal for the property in March 2020.

Very cool to see things continuing to develop In that area.  I certainly hope they are managing their finances carefully.  I imagine this Coronavirus hubbub could have an impact on their core theater business.  I’d hate to see them go all Bob Israels with irrational exuberance impacting their development dreams.

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I'm just gonna keep posting pics because workload is light this week and I know yiu guys could use some distractions.

I'm now thinking they left the middle section last so they could get this concrete pump up in there.

20200317_101641.thumb.jpg.48fc79433e9e7e6286c5b6f39aca263f.jpg

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lol.  I love the scale of this building.  It's going to be pretty awesome once they start the building to the west

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So AMC is supposedly in talks with bankruptcy lawyers.

https://variety.com/2020/film/box-office/amc-theatres-bankruptcy-likely-1234575780/amp/

 

Goodrich Theaters filed for bankruptcy in February too.

https://www.mlive.com/news/2020/02/i-never-anticipated-this-says-owner-of-michigan-theater-chain-now-in-bankruptcy.html

Some analysts predict that most theaters will be closed until August. I’m a little nervous about the timing of the pandemic with this project...

Edited by WMrapids

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9 hours ago, WMrapids said:

So AMC is supposedly in talks with bankruptcy lawyers.

https://variety.com/2020/film/box-office/amc-theatres-bankruptcy-likely-1234575780/amp/

 

Goodrich Theaters field for bankruptcy in February too.

https://www.mlive.com/news/2020/02/i-never-anticipated-this-says-owner-of-michigan-theater-chain-now-in-bankruptcy.html

Some analysts predict that most theaters will be closed until August. I’m a little nervous about the timing of the pandemic with this project...

Yup.  To be allowed to be open is one thing, but if your business relies on a dense crowd on a Friday and Saturday like movie theaters or traditional indoor sit-down restaurants, then that's a whole other thing.  They're completely dependent on significant medical developments.  August seems optimistic.

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2 hours ago, GRain said:

Yup.  To be allowed to be open is one thing, but if your business relies on a dense crowd on a Friday and Saturday like movie theaters or traditional indoor sit-down restaurants, then that's a whole other thing.  They're completely dependent on significant medical developments.  August seems optimistic.

I was just talking about this yesterday with a friend that's a cook at a local brewery and she was thinking August for her place, of course dependent on any significant medical developments.  Even if restaurants/movie theaters/breweries/etc ... open but with severely reduced capacities, at a certain point it might not make sense for certain places to open. 

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Drove past the Acrisure building today and while there wasn’t any activity, they pulled all of the plastic down (which seems like new activity?). Did they figure out a loophole to work on this project?

Also caught a guy peeing on the Wheelhouse entrance. We very awkwardly locked eyes mid stream. He didn’t appear to be homeless, which made. Me want to shout out the window and chastise him. I refrained. :)

Joe

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Not surprised. It was an old-style mall theater that couldn't profit off of complementary neighboring businesses (like Studio C does with the businesses it either leases space to or owns).

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