The phrase “building boom” describes Grand Rapids’ past decade, and it seems it’s an apt sentiment for the near future as well. Major developments announced in recent days garnered financial and collaborative support from economic decision makers.
According to excerpts from the story:
GRAND RAPIDS -- The Downtown Development Authority gave three major development projects a financial boost this morning. All told, the incentives and development agreement approved could help spur investments of up to $35 million. The largest deal addressed was the planned $22 million to $26 million Cambria Suites hotel near Van Andel Arena.
The property's owners, who had planned condominiums on the site when they bought it from the DDA, were able to have their development agreement adapted to allow the property to be sold to the hotel's developer. Fort Wayne, Ind.-based GT RIDMG Inc. is planning a 129-room hotel with a full-service restaurant, indoor pool, integrated parking and a potential skywalk link to Van Andel Arena. The lot, 45 Ionia SW, sits in the heart of the city's entertainment district.
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