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

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On 5/2/2016 at 10:48 AM, GR_Urbanist said:

A wake up call for everyone that desires a downtown with these types of assets to SUPPORT it. We already blew it with the bookstore. This fish is far too big for us to not put in the effort to utilize it as much as possible.

Consider every movie you see to be an investment in the downtown area.

 

Ummm, I don't think Loeks wants everyone to go to the downtown theater who would otherwise go to Celebration North or South. That's called cannibalizing your own business. Perhaps maybe go to a movie more often, whether it be downtown or any other Loeks property? 

Plus, if it's part of a complex that offers entertainment options for before or after a movie, that will help. Especially if it doesn't have a bunch of unruly punks hanging around on weekends. :P

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I plan on going to this theater for as many movies as I can instead of driving 15 minutes to all of the current theaters.   For people that live near downtown this will be a great resource.  It'll also be great, as GRDadof3 mentioned, for people to do before or after events downtown.  Convention goers can catch a movie before going out to dinner and drinks at night.  Until we have a nice retail selection downtown there is a limit to what you can do during the day, beyond drinking...

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More details in this article about the background of this. It's interesting how Studio 28 prevented the idea of a downtown theater for some time. I also realized that the tower would be 16 stories with the 10 for residential and 6 for parking, must've missed that in the hype.

https://mibiz.com/news/design-build/item/23578-downtown-grand-rapids-theater-project-requires-developers-to-think-bigger

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Good.  Last I had heard they hit some major obstacles.  Glad to hear it's still tentatively on track...  A complex like this with some decent chain restaurants and shops would really be a missing link.  Not that the one-off restaurants and shops aren't great for some local flare, but no one has ever built a great downtown (other than a tourist trap) on the sort of stuff currently populating downtown.  Fingers crossed.  

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9 hours ago, WMrapids said:

Really? Two of these today? :lol:

Just taking them for a spin. :) 

I think we may hear an update on this in Q1 2017. 

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Latest info I have is that they are planning to break ground in the Spring, but they have to relocate the road (I'm assuming they meant BUS 131, the extended off-ramp thing) and build the parking ramp first before they start on the actual theater building.

Edited by Pattmost20
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5 hours ago, Pattmost20 said:

Latest info I have is that they are planning to break ground in the Spring, but they have to relocate the road (I'm assuming they meant BUS 131, the extended off-ramp thing) and build the parking ramp first before they start on the actual theater building.

 I was thinking it would be really cool if they coordinated this with arena improvements and relocated the road directly underground and had it for vanAndel access only, for trucks Headed for the loading docks and for new parking ramp

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16 hours ago, ironyisadeadscene said:

The tower portion is a second phase down the road,  correct?

Yes, the residential tower is suppose to be second phase.

Edited by mpchicago
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1 hour ago, GR8scott said:

 I was thinking it would be really cool if they coordinated this with arena improvements and relocated the road directly underground and had it for vanAndel access only, for trucks Headed for the loading docks and for new parking ramp

There's not going to be a parking ramp behind the arena. That idea was killed for financial reasons.

Studio C will have a 900 car ramp though. 

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6 minutes ago, WMrapids said:

Alamo Drafthouse is closing in the Kalamazoo theater this April. Wonder if this will change any ideas for here.

Alamo is being "forced" out because the landlord/building owner has secured another movie theater to take the space. I was nervous at first when I saw the headline but have since been relieved to see the entire story. 

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43 minutes ago, GVSUChris said:

Alamo is being "forced" out because the landlord/building owner has secured another movie theater to take the space. I was nervous at first when I saw the headline but have since been relieved to see the entire story. 

Celebration has been testing the Studio C! brand in Okemos which seems to be doing well, possibly they are going to take over the space Alamo left. Between the Okemos location and Celebration North starting to serve alcohol, it seems like Celebration is pretty committed to this idea.

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54 minutes ago, Pattmost20 said:

Celebration has been testing the Studio C! brand in Okemos which seems to be doing well, possibly they are going to take over the space Alamo left. Between the Okemos location and Celebration North starting to serve alcohol, it seems like Celebration is pretty committed to this idea.

Truthfully my first thought was that maybe it is Celebration/Studio C taking over the Alamo spot, as well. 

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A few updates. I don't know anything about the office portion, though I hope that brings more wow to the project! I have been kept abreast about the hotel portion as well as some of the anchor retail. One idea that I've heard tossed around is the possibility of a new Children's Museum there, though I don't know how "real" that pitch has gotten.

https://mibiz.com/news/real-estate/item/24661-sources-office-tower,-hotel-proposed-for-downtown-gr-movie-theater-district

 

 

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6 hours ago, GVSUChris said:

A few updates. I don't know anything about the office portion, though I hope that brings more wow to the project! I have been kept abreast about the hotel portion as well as some of the anchor retail. One idea that I've heard tossed around is the possibility of a new Children's Museum there, though I don't know how "real" that pitch has gotten.

https://mibiz.com/news/real-estate/item/24661-sources-office-tower,-hotel-proposed-for-downtown-gr-movie-theater-district

 

 

So the whole project is expanding, but the apartments are being reduced due to the market and being changed to condos?

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On 4/2/2017 at 1:52 PM, WMrapids said:

So the whole project is expanding, but the apartments are being reduced due to the market and being changed to condos?

It's old news that the apartments on this project are being scaled back.  I'm pretty sure the lenders are getting nervous at this point.  Even if the people behind these projects are very solvent, you still don't want to lend money to something that isn't a good idea.  Nor, for that matter, are the smart builders building more of this stuff in the first place.  Checking vacancies over at Morton again, it's still bleeding.  Orion hasn't been silly enough to list each vacancy individually for Arena Place, but AFAIK it isn't exactly waitlisted.  

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8 hours ago, x99 said:

Orion hasn't been silly enough to list each vacancy individually for Arena Place, but AFAIK it isn't exactly waitlisted.  

Well when it's falling apart in high winds...

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