Development news, link to original article here.
Tag Archive for: Grand
“The Rapid public-transit system is paying HDR Inc. $293,895 to refine the 2008 study, updating what an electric streetcar line would cost and how the money could come together. An advisory committee started meeting last month.
“‘We’re going to build on that (2008 study),’ said John Logie, a former Grand Rapids mayor who is chairman of the committee. ‘We think the timing is right. The economy is coming back.'”
Forbes recently ranked US cities based on current market prices as compared to what Local Market Monitor deemed an “Equilibrium Price:”
“choices were ranked primarily on four factors: population, home prices, and the local jobs economy. Each of our Best Buy Cities have high population and job growth, relatively low home prices, and are still considered under-valued…
“The key to coming up with this list is a proprietary measure that Local Market Monitor dubs the “Equilibrium Home Price.” Basically, it tracks what the average price for a market should be, if speculation, weird distortions in local income, and other factors (like the housing collapse) weren’t present in the market. The measure presumes that prices will eventually return to this level. When homes are far under the equilibrium price, investors are getting a good buy and can expect to make a good return. The other important consideration for investors is, of course, a healthy local economy. After all, there is zero point in purchasing a home in a market where the population is fleeing. That’s why Best Buy Cities are places where opportunities are growing.
Some 400,000 people will pay a visit to downtown Grand Rapids over the next month. It’s hard to avoid Art Prize Fever, especially with the “Ninkasi, Goddess of Beer” installation (by Kolenda) at the new Founders Tap Room! I don’t have any more 2013 spoilers for you, but here are some links to a few national and local ArtPrize articles, as well as a few of my favorite photos from 2012.
“Ninkasi, Goddess of Beer”
at Founders Brewing, 2013
Art Prize Articles
The Rapidian: Some of the Best ArtPrize Coverage, Written by Citizen Journalists
MLIVE: Art Prize by the Numbers
Grand Rapids Press: Archive
Time Magazine: Five Festive Events You Won’t Want to Miss in 2013
GQ: So You Think You Can Paint
Wall Street Journal: Critical Mass
New York Times: West of Chelsea: A Local ArtPrize?
BBC: Oil Painting Wins $250,000 Prize
MLIVE: Is Music Art?
Examiner: Synopsis
Washington Post: Travel
Markdahle: Tips for Visiting ArtPrize
Here are some photos I took in 2012
Farmers Insurance Study Ranks Grand Rapids MI Second Most Secure Large City in US
Full article at ClaimsJournal.com
excerpt:
“In this year’s large city category of the ‘Most Secure Places to Live in the U.S.’ study, Farmers Insurance Group has rated Bethesda, Md., Grand Rapids, Mich., and Pittsburgh, Pa., as the most secure large metropolitan areas (population of 500,000 or greater).
“Farmers annually ranks hundreds of U.S. communities based on safety and security. The study of large metropolitan areas, compiled by researchers at Sperling’s BestPlaces, took into consideration a number of criteria, including economic stability, crime statistics, extreme weather, risk of natural disasters, housing depreciation, foreclosures, air quality, environmental hazards, life expectancy, motor vehicle fatalities, and employment numbers.
“Grand Rapids made the Farmers Insurance top 20 for the first time, while this is the sixth consecutive year that Pittsburgh has appeared in the annual Farmers rankings.”
Large Metro Areas (500,000 or more residents)
| 1. | Bethesda–Gaithersburg–Frederick, Md. |
| 2. | Grand Rapids–Wyoming, Mich. |
| 3. | Pittsburgh, Pa. |
| 4. | Austin–Round Rock, Texas |
| 5. | Cambridge–Newton–Framingham, Mass. |
| 6. | Omaha, Neb.–Council Bluffs, Iowa |
| 7. | San Jose–Sunnyvale–Santa Clara, Calif. |
| 8. | San Francisco–San Mateo–Redwood City, Calif. |
| 9. | Portland–Beaverton, Ore.–Vancouver, Wash. |
| 10. | Dallas–Plano–Irving, Texas |
| 11. | Boise City–Nampa, Idaho |
| 12. | Madison, Wis. |
| 13. | Minneapolis–St. Paul–Bloomington, Minn. |
| 14. | Raleigh–Cary, N.C. |
| 15. | Portland–South Portland–Biddeford, Maine |
| 16. | Essex County, Mass. |
| 17. | El Paso, Texas |
| 18. | Honolulu, Hawaii |
| 19. | Santa Ana–Anaheim–Irvine, Calif. |
| 20. | Des Moines–West Des Moines, Iowa |
With the Spring Market well underway in Grand Rapids, its time to look back and see if the ecomonists favorable yet conservative predictions from 2012 have come true. After the big and constant decline over the past few years, I’m happy to say that Real Estate is trending upward, probably faster than we were expecting.
Comparing January-April 2012-2013, the numbers are looking great. Here are a few facts that point to a recovering market:
Heritage Hill & surrounding historic district, Grand Rapids:
In 2012, 42 homes in the surveyed downtown area were sold from the beginning of the year through April, as compared to 43 homes sold during that same period in 2013. The average sale price was $189,000 in 2012, and $215,000 in 2013. That is a healthy increase of around 14% from last year to this year.
Other neighborhoods of note:
Grand Rapids Downtown Historic District: up 14%
Grand Rapids Northeast: up 11%
Walker: up 15%
Northwest Neighborhoods: up 17-27%
Northeast Side: up 5-38%
East Grand Rapids: up 20%
Southeast Areas: up 2-23%
Wyoming: up 15-23%
Grandville: up 9%
Kentwood Neighborhoods: up 9-13
West Side: up 8%
Grand Rapids Township: up 26%
Cascade: up 25%
Overall, the Greater Grand Rapids area has had a similar number of listings and sales in Spring 2013 as compared to Spring 2012, but the average sale price this year is $132,688 as compared to least year’s Spring average of $114, 626. That’s an almost 16% increase across the Greater Grand Rapids area.
Right now, consumer confidence is up and foreclosure listings are down. Over the next 2-3 years, the banks will be selling the rest of their Shadow Inventory, which are the foreclosures that remain from the dark period we just experienced. Still, there are far fewer foreclosure listings now than there have been in recent years, and the confidence of home sellers continues to grow along with sale prices.
With inventory this low and lots of buyers out there, the market seems to favor the seller. Still, there are some foreclosure listings in the mix, which jostle the recent memory of a heavily-weighted buyers market. Right now, it is a great time to engage in this Real Estate market, whether you plan buy or to sell. Buyers are faced with historically low interest rates coupled with low prices. Sellers are experiencing the most success since prior to 2008. These are good times.
—
All statistics courtesy of Grand Rapids Association of Realtors
Full Article Link HERE
According to Forbes Magazine, Grand Rapids is one of the best places in the US in which to find employment.
Recently, Forbes also named Grand Rapids the #1 Best City for Raising a Family.
FULL ARTICLE HERE AT MLIVE.COM
An Ohio developer plans in January 2014 to start building riverfront housing on a former Ryder Truck property at the end of 10th Street NW.
Grand Rapids Planning Commission has approved a site plan by The Woda Group for a residential complex on the west side of the Grand River at 936 Front Ave. NW. The GrandView Place would be the city’s first housing redevelopment between U.S. 131 and the river, aside from the Riverhouse condominiums downtown.
The housing would include up to 93 housing units, 80 of them offered at subsidized rents…
GRAND RAPIDS, MI – After more than a year of negotiating, the city and the prospective developer of a parking lot at the corner of Fulton Street and Ionia Avenue NW are ready to proceed with a deal that could yield an 8-story building.
Grand Rapids City Commission on Jan. 22 is expected to consider a three-year option for CWD Real Estate to purchase the property adjacent to the Ottawa-Fulton parking ramp and across Fulton from Van Andel Arena….