An innovative public/private partnership between a Grand Rapids development company and the city has inched forward with the promise of the project’s first office tenant and negotiations for a restaurant underway.
According to excerpts from the story:
Locus Development is making progress on Thirty-Eight: a $26 million, mixed-use, two-building project going up at 38 Commerce Ave. SW in partnership with the city of Grand Rapids. The development features 68,000 square feet of office, retail and residential space that will be built into the two structures. Residences will go into the Commerce Avenue building, while offices will go into the one on Weston Street.
Then the two “liner buildings” will come together at the intersection. John Green, who formed Locus Development with Andy Winkle last spring, said they have their first office tenant lined up and should be closing on that lease within a month. The tenant remains anonymous at this time. But Green did confirm that the company will be moving into the building from a suburban address, which will mean new jobs and new income-tax revenue for the city.
Read the complete story here.
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