$200K expected to spur Burton Heights business district

By: Deborah Johnson Wood

Macatawa Bank Corporation and Neighborhood Ventures recently announced a partnership to make $200,000 available to business owners in Grand Rapids’ Burton Heights district. Both organizations hope the investments will create jobs and spur business growth by improving the business district and attracting new businesses to the area.

This spring, Macatawa Bank contributed $40,000 to Neighborhood Ventures to help revitalize Burton Heights, and committed an additional $100,000—or more, if needed, says bank CEO Phil Koning—for micro-loans to business owners. Neighborhood Ventures will invest another $60,000 for facade improvements and marketing.

The project also provides a number of growth opportunities:

• Bi-lingual assistance through in-depth business training.
• A branding campaign to market the attributes of the neighborhood.
• Beautification and the implementation of 'green' principles.
• Design clinics and pro bono architect services to help with restoration and rehabilitation projects.
• Reimbursement grants to help restore old buildings.
• Recruitment of businesses to fill storefront vacancies.

"It may take some time," Koning says, "but you have to get a certain amount of businesses and successful restaurants going, and once you get some you get more and more and more."

Kimberly Van Dyk, executive director of Neighborhood Ventures, has been involved with revitalization efforts in several neighborhood business districts. She believes vitality and economic growth are on the way for Burton Heights.

"As with many communities," Van Dyk says, "the more traditional business districts have declined as shopping, dining and services have moved out to the suburbs. But in the last decade, urban has become cool again."
 
Source: Phil Koning and Kenia Villarreal, Macatawa Bank; Kim Van Dyk, Neighborhood Ventures

Kim Van Dyk of Neighborhood Ventures (Photo by Brian Kelly)

Deborah Johnson Wood is development news editor for Rapid Growth Media. She can be contacted at [email protected].