Cutlerville
REAL ESTATE
Owner defaults on loan for 17-story downtown Grand Rapids office tower
The owner of the skyline-defining Bridgewater Place office tower in downtown Grand Rapids has defaulted on a $37.3 million loan after its lender grew concerned when the building’s largest tenant left. Real estate information service CoStar reports that the California-based Hertz Investment Group failed to pay a cash deposit...
Lengthy reviews for state tax credit hamper historic preservation projects
The state’s historic preservation tax credit program is making it increasingly difficult for developers to stay on budget and meet timelines, as an influx of applications and limited staffing causes longer wait times during the approval process. A six-month backlog has developed since lawmakers three years ago reinstated the...
Ottawa Co. approves construction of Terra Station for downtown Hudsonville
The 12-building development proposes 141 rental units along with 4600 square feet of retail space on the first level. Terra Station Ventures LLC requested use of state legislation passed in 2023 that allows for brownfield tax increment financing, or TIF, to be used to reimburse developers for certain housing developments.
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