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Developers pitch Fulton & Market transformational brownfield plan for Grand Rapids riverfront; project cited at roughly $750M–$800M
Summary
Progressive Companies and Michigan Growth Advisors presented a conceptual plan for the Fulton & Market site (about 6.8 acres) describing a mixed-use redevelopment with roughly 1,900 permanent jobs, hundreds of housing units, and multiple tax-capture revenue streams; presenters outlined a public-review timeline but the commission took no formal action.
Developers and city staff gave an informational briefing on a Fulton & Market transformational brownfield plan that would redevelop roughly 6.8 acres of riverfront surface parking and vacant lots into a dense, mixed-use riverfront project.
Brad Thomas, principal at Progressive Companies, described the site and a mixed-use concept that would place retail and restaurants along a promenade to the river, a 420,000-square-foot office tower atop a parking podium, and a northern podium with residential housing and a hotel. "We cast this vision of something that can be vibrant, mixed-use development, bringing workers and employees and shoppers and visitors to our community," Thomas said.
Joe Gastinelli of Michigan Growth Advisors presented the project's economic context and financing mechanics. He said the team now models the total project investment at "just shy of $800,000,000" and noted geotechnical conditions (the site was historically part of the Grand River) that drive up construction costs. "The site itself was formerly part…
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