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


joeDowntown

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21 hours ago, joeDowntown said:

I love this rendering (from the Studio Park site):

 

SPT+3.png

 

And depending on the size, I agree, $500k seems a little low. Especially with housing prices what they are now (and I assume these will have some pretty nice finishes!).

I like this one from their website. 

SPT+1.png?format=2500w

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  • 3 weeks later...
5 minutes ago, whitemice said:

Is the studio park residential tower Grand Rapid's first air-rights build?  If not it is the first one in a long time. I can't recall any structures added atop existing structures.

I think McKay Tower would hold that title (at least for buildings still standing). 

I’m super excited to see this project go vertical  

Joe

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3 hours ago, whitemice said:

Is the studio park residential tower Grand Rapid's first air-rights build?  If not it is the first one in a long time. I can't recall any structures added atop existing structures.

I think you're going to start seeing this more. GR knows it needs to build up. It knows it needs more residential units downtown. But the current economics of it make it hard to build now. So I think you'll see ramps get built with air rights. From what I've heard, a ramp at the library would likely follow this. 

 

So projects built in phases.

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3 minutes ago, Cookin_peacocks said:

I think you're going to start seeing this more. GR knows it needs to build up. It knows it needs more residential units downtown. But the current economics of it make it hard to build now. So I think you'll see ramps get built with air rights. From what I've heard, a ramp at the library would likely follow this. 

 

So projects built in phases.

I would hope this would be the case for any new parking ramps.  Ideally with linear buildings.

Speaking of parking ramps, aren't there some ramps that are nearing the end of their usable life?  I know Louis Campau is one of them.  I would think Amway's ramp would be close too, but I think they just did some work to extend it's life.  Maybe they could work out some kind of deal to combine the two with a tower on top or possibly coordinate replacing one at a time.

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16 minutes ago, Jonesey said:

I would hope this would be the case for any new parking ramps.  Ideally with linear buildings.

Speaking of parking ramps, aren't there some ramps that are nearing the end of their usable life?  I know Louis Campau is one of them.  I would think Amway's ramp would be close too, but I think they just did some work to extend it's life.  Maybe they could work out some kind of deal to combine the two with a tower on top or possibly coordinate replacing one at a time.

I worked at the Amway for a while. That ramp was ROUGH. they poured money into it, but it's kinda like how they put in a new scoreboard at the Palace of Auburn Hills 3 years before they closed it. It's a temporary solution. 

 

How temporary, I don't know. AFAIK, there are no plans to replace it, but I'd have to imagine it's on their long term radar. And I'd have to imagine, with AHC wanting a stronger foothold in the city, they'll do more than just a ramp. 

 

Though! If the convention center hotel ever gets built, and if AHC runs it, what are the odds they build a new ramp for that? And could it be built for both hotels?

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  • 4 weeks later...

An article in GRBJ shows a photo from the top of the parking ramp:

https://grbj.com/news/real-estate/studio-park-building-out-fifth-tallest-tower-in-city/?utm_medium=social&utm_source=linkedin&utm_term=grand+rapids+business+journal&utm_content=939d7aa8-39b6-4bdc-aad5-8239aa8a98fa

BTW, I like the way Loeks does business. They just went for it (as is mentioned in this article). Not typical of what we're hearing from other developers these days. 

Joe

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6 hours ago, joeDowntown said:

An article in GRBJ shows a photo from the top of the parking ramp:

https://grbj.com/news/real-estate/studio-park-building-out-fifth-tallest-tower-in-city/?utm_medium=social&utm_source=linkedin&utm_term=grand+rapids+business+journal&utm_content=939d7aa8-39b6-4bdc-aad5-8239aa8a98fa

BTW, I like the way Loeks does business. They just went for it (as is mentioned in this article). Not typical of what we're hearing from other developers these days. 

Joe

Agreed. I can never figure out where the disconnect is between what the city is seeing and asking for and what the developers are seeing. Even at the height of market demand pre-Covid, the tallest building in the city was scaled down to 12 stories - completely scrapping the housing portion - due to a supposed lack of demand. Yet, we have this being built as well as a 10 story building. 

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4 hours ago, joeDowntown said:

The article also said Loels is ready to go if Acrisure pulls the trigger on the tower. It’s just up to them. 

will be interesting to see if RDV tries to lure Acrisure to whatever they develop on the Fulton/Market lot. 

I think (I spoke to someone who knows someone) that Acrisure may be doing their homework on a more prominent location to build. 

 

That said, I wondered a few things if that tower gets built. Will it have parking underneath? Will they build a bridge to connect the two Acrisure locations? And given the demand for housing, will the tower be altered to include residential units?

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14 minutes ago, Cookin_peacocks said:

I think (I spoke to someone who knows someone) that Acrisure may be doing their homework on a more prominent location to build. 

 

That said, I wondered a few things if that tower gets built. Will it have parking underneath? Will they build a bridge to connect the two Acrisure locations? And given the demand for housing, will the tower be altered to include residential units?

Prominent as in within GR? Or prominent as in another city?

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11 minutes ago, demhem said:

Prominent as in within GR? Or prominent as in another city?

Within the city. I think closer to the River. Which makes me wonder if they choose a location away from the current location, if they would leave their current location and consolidate at the new location.

 

Also, for you sickos out there with a crane fetish 

 

 

 

 

 

IMG20221026105946.jpg

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Acrisure can make the corner of Ottawa and Oakes a "prominent location" simply by building there. Studio Park, Founders, Van Andel Arena, etc are already close by, as well as hotels, other major white collar employers (Miller Johnson, Meritage, etc), and a whole bunch of housing, restaurants, entertainment, etc.

They can make that area one of the economic cores of the City! Leave the riverfront for housing. 

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2 hours ago, Cookin_peacocks said:

I think (I spoke to someone who knows someone) that Acrisure may be doing their homework on a more prominent location to build. 

 

That said, I wondered a few things if that tower gets built. Will it have parking underneath? Will they build a bridge to connect the two Acrisure locations? And given the demand for housing, will the tower be altered to include residential units?

ooooo... Could we finally get a large corporate headquarters building in GR?

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1 hour ago, Jonesey said:

ooooo... Could we finally get a large corporate headquarters building in GR?

This topic was months ago. I'm sure the information I got is not necessarily the updated information. 

 

I also wonder if Loeks would just toss that tidbit out of the blue. I kinda feel like it was perhaps a hint that the tower is a go down the line, without saying it's a go. 

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30 minutes ago, GRLaker said:

At 16 stories, I’d hate to see them build on the empty lot south of Plaza Towers. They’re better off logistically, financially, and visually at Studio Park. 

That lot is going to be something big. A 16 floor tower may be part of it, but it would be a small part of it. 

 

Also, with the housing demand, I have to wonder, as I've already asked, if it will be altered to include residential.

 

Why not?

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