This property is at the intersection of two major roads across the street from Grand Rapids largest future transitional development on the Grand River. Corner of Market (west entrance to city) and Wealthy (south entrance to city). Historically, the location was used as Grand Rapids only train station. All possible utilities in place, along with being in an opportunity zone make this not only a key location, but a tax protected investment.
City approves riverfront land sale for affordable housing despite criticism - February 12, 2025
- The city of Grand Rapids has approved an option agreement to sell
prime riverfront property for affordable housing
- The project site includes 10 parcels of vacant land and surface parking across 6.9 acres along the Grand River downtown.
- The developer is planning a five-story apartment project on the site that would include at least 75 units of mixed-income housing, including at least 24 affordable units.
- The city’s master plan, GR Forward and the River for All plans all have long envisioned mixed-use redevelopment of this stretch of the river.
- As proposed, P.S. Equities and Dwelling Place’s project calls for some ground-floor covered parking spaces, along with residential uses like a
mail room and lobby. It also includes a surface parking lot between the building and the river.
Grand Rapids board advances $565M incentives plan for massive riverfront project - October 17, 2024
- The Grand Rapids Brownfield Redevelopment Authority board
approved an incentive package expected to total about $565.5 million
- The project site includes 10 parcels of vacant land and surface parking
across 6.9 acres along the Grand River downtown.
- The project, referred to as Fulton & Market, would also include two
parking decks with a total of 2,500 parking spaces.
- With the Brownfield Redevelopment Authority Board’s unanimous
approval of the project’s Transformational Brownfield Plan (TBP)
Wednesday morning, the Grand Rapids City Commission is set to hold
a public hearing about the funding tool on Nov. 12
- “At this point, there is nothing being presented today that causes
concerns of not being able to meet the zoning ordinance,” Turkelson
said at the meeting. “It’s on a good path from a site plan perspective.”
Fulton & Market riverfront towers project nabs first incentive plan approvals - October 9, 2024
- The DeVos and Van Andel development team planning three riverfront
towers on the former Charley’s Crab site received its first step of
approval for incentives to help fund the nearly $800 million project.
- The Grand Rapids Downtown Development Authority voted this
morning to approve a 75% pass-through of its capture of tax
increment financing for the project site to the Grand Rapids Brownfield
Redevelopment Authority.
- It is set to include
three high rise towers on 10 parcels of land with 420,000 square feet
of office space for a single user, 130 hotel rooms, 76 condominium
units, 595 apartment units, a 2,500-space parking deck, shops and
restaurants.
- The Grand Rapids Brownfield Redevelopment Authority will consider
an $543.5 million incentive package at its Oct. 16 meeting that
includes transformational brownfield and traditional brownfield
incentives.
- The DDA also approved an agreement with the development team for
a 30-foot easement on the property along the Grand River to add
public trail access as part of the Grand River Greenway project.
Firm proposes trio of riverfront towers for Grand Rapids' skyline - September 20, 2024
- new proposal for the former Charley’s Crab site may continue the redevelopment of downtown Grand Rapids with a “very significant” design set to redefine the skyline.
- the project would turn “six-plus acres of asphalt” into three high-rises — a hotel and condos, a residential building, and an office building
- “This would be a skyline-defining project,”
- Progressive Companies called the redevelopment “an extension of the Grand Vision for one of the largest active riverfront revitalization projects in the country.”
- construction could begin in fall 2025 and conclude in fall 2028 or spring 2029.
See how the riverfront near Grand Rapids amphitheater will be transformed - August 11, 2024
- “We’re building ambitious assets on the waterfront for our community to gather, enjoy and benefit from the Grand River,”
- Construction is expected to start next spring and cost between $15 million and $17 million.
- DGRI is using the dollars for a series of park and trail improvements along the Grand River in the Grand Rapids-area. The trail will provide not only an entrance to the venue, but also riverfront access for residents who live in neighborhoods near the venue.
Grand Rapids pays $3.3M to upgrade industrial riverfront property - June 13, 2024
- The city bought 501 Market Ave. SW for $2.4 million and 489 Market Ave. SW for $176,400 on May 30 from Gelock Heavy Movers
- The acquisitions were part of the city’s larger $3.3 million deal with Gelock to gain access to 489 Market to separate storm and sanitary sewer infrastructure, and ultimately convert the industrial site to greenspace.
- the two properties sit about halfway between the proposed Acrisure Amphitheater and Factory Yards, a 15.5-acre, $147 million mixed-use renovation of a former factory about a half-mile south at 655 Godfrey Ave. SW.
- When Gelock’s lease with the city expires in 2026, Burkman anticipates the property will be turned into a greenspace, although that ultimately will be a decision for the Grand Rapids Parks and Recreation department.
Demolition underway for Acrisure Amphitheater - May 6, 2024
- Crews began tearing down the first of several buildings Monday at the site on Market Avenue south of Cherry Street to make room for the 12,000-seat Acrisure Amphitheater.
- Crain’s Grand Rapids reports that negotiations are underway to make the venue’s principal booker for events Live Nation.
- Kent County voters will be asked in the August election if the hotel tax should be raised from 5% to 8%, which could be used to help fund projects like the amphitheater or a soccer stadium.
New agreement stipulates how $30M Grand Rapids amphitheater grant will be doled out - May 07, 2023
- The agreement sets up a framework for Grand Action 2.0, a private economic development group, to be reimbursed for eligible architecture and construction costs by the Grand Rapids-Kent County Convention/Arena Authority (CAA).
- The CAA, Grand Action, the city of Grand Rapids and others are working to build the 12,000-capacity amphitheater at 201 Market Ave. SW along the Grand River.
- Hope to have the venue open by 2025 but more likely 2026.
- Estimates have put the venue’s price tag at $116 million.
- The amphitheater is one component of a planned redevelopment of a 31-acre stretch along Market Avenue between Fulton and Wealthy Streets.
CAA OKs ‘exciting next step’ for Grand Rapids amphitheater - August 5, 2023
- Grand Action 2.0 will work on developing, assisting and raising funds for the project and the CAA will handle events and operations of the venue when it’s complete.
- One CAA member called it a “very important step in the amphitheater project.”
- The next steps include continuing to work toward an acquisition agreement between the city and CAA for 11.6 acres of the 15.8-acre property where the amphitheater will sit.
- That property, labeled 201 Market, currently belongs to the city of Grand Rapids, which has been trying to redevelop it for 15 years.
- “We’re trying to create a very, very unique experience right on the river, and I think time will show that people will absolutely want to be there. It’s going to be a gorgeous environment, it’s going to be a gorgeous location and it’s going to still be within the city and all of the positive vibe that the city currently has,” MacKeigan said.
Grand Rapids advances relocation plan to clear path for downtown amphitheater - March 28,2023
- City officials have approved a $2.2 million contract with the architect designing a new public services facility
- Grand Rapids City Commission on Tuesday night approved the design contract with Bergmann Associates Inc.
- The next steps include continuing to work toward an acquisition agreement between the city and CAA for 11.6 acres of the 15.8-acre property where the amphitheater will sit.
- Relocate various city services from 201 Market Ave. to 1500 Scribner Ave. NW on the city’s north side.
- Relocation also has been the primary barrier for the Grand Rapids-Kent County Convention/Arena Authority (CAA) to exercise a $24.3 million option agreement with the city of Grand Rapids to purchase the 201 Market property.
Agreement to develop property near Grand Rapids amphitheater approved by arena board
- February 3, 2023
- The public authority leading the charge to build a 12,000-capacity riverfront amphitheater in Grand Rapids approved an agreement
- Hope to have the amphitheater open by 2025.
- The amphitheater is one component of a planned redevelopment of a 31-acre stretch along Market Avenue between Fulton and Wealthy Streets.
- The vision for the area, developed by Grand Action in partnership with the city and others, includes up to 1,750 apartments, ground-floor retail space, and parks and greenspace. It’s designed to tie-into and complement efforts to revitalize and restore the Grand River’s rapids in downtown Grand Rapids.
Grand Rapids officials back plan to redesign Wealthy Street, U.S.-131 interchange
- May 9, 2022
- City officials are backing plans that would redesign the Wealthy Street interchange at U.S.-131 to bring the street to grade level while elevating the highway.
- Grand Rapids City Engineer Tim Burkman told MiBiz that an at-grade Wealthy Street and elevated U.S.-131 would align with the city’sgoals. Wealthy Street is currently elevated above U.S.-131.
- Though a project redesign is not final, city officials hope to improve the interchange from an operational and safety standpoint while also
making the area more connected for alternative transit options and pedestrians, Burkman said.
- “The interchange created this divide from the east and west side of the city,” Burkman said. “We believe by bringing it to an at-grade
level, that will create a more cohesive connection between the areas on the east and west side.”
2024 Downtown Development Authority (DDA) Updates
Downtown Grand Rapids Inc. (DGRI) is the organization responsible for city building and place-management in the urban core of the City of Grand Rapids. DGRI’s work is guided by GR Forward – the community plan and investment strategy that was approved unanimously by the Grand Rapids City Commission in December 2015.
The Grand Rapids Downtown Development Authority (DDA) is updating its Development and Tax Increment Finance Plan (the Plan). This technical document establishes the purposes and practices that guide how the DDA collects and uses revenues to catalyze investment in its district.
More information can be found at: downtowngr.org
Property Details:
PPN # 41-13-25-383-004
0.61 Acres
School District: City of Grand Rapids
Survey: 431 Wealthy St SW Survey
Phase I: 431 Wealthy St SW Phase I
BEA: 431 Wealthy St SW BEA
DCCA: 431 Wealthy St SW DCCA
City of Grand Rapids is a very progressive government open to many uses at this location.
ESRI Community Profile Showing Population Summary, Housing Summary, Household Income, Home Values, Median Age, Income, Housing Values, Population by Race/Ethnicity, Education, Marital Status and Consumer Spending : Community Profile
ESRI Demographics and Income Profile Showing Population Census Trends, Household Income Trends, Population by Age Trends, Race and Ethnicity Trends within' 1 mile, 3 mile and 5 mile radius : Demographic and Income Profile
Building Details:
This 1,280 sq ft Building is located at the Busy Intersection of Wealthy St SW and Market St SW.
City Center Zoning (click to see allowable uses)
Zoning Map
DH-2a Height Overlay (minimum 3 story and maximum 10 story building)
Parking Lot - The original parking lot consist of 45 plus 2 Handicap parking spots, add more spaces to the space highlighted in yellow.
HVAC - Central Gas Furnace with AC - HVAC has been inspected maintained and functional. Electric heaters in restrooms.
Electric (Consumers Energy) - 240v Single Phase Power
Building Materials - Stick build with wood shake exterior.
Roof - Metal Roof. Roof inspected, no leaks, superior condition.
Interior -
Ingress/Egress Doors - 3 Man Doors
Ceiling Heights -8ft Ceilings
Owner - Underground Building Maintenance LLC
Access - Keyed Entrance
Local Utilities:
Water/Sewer: City of Grand Rapids
Gas: DTE
Electric: Consumers Energy
Telephone: AT&T
Internet: ATT/123.net/Granite Telecommunications/Comcast
