Published on July 24, 2019
GRAND RAPIDS, Mich. – The City of Grand Rapids’ Brownfield Redevelopment Authority has approved a development and reimbursement agreement with Health Innovation Partners LLC for the next phase of development at the Grand Rapids Innovation Park, located at the northeast corner of Michigan Street and Monroe Avenue at the foot of the Medical Mile.
Michigan State University (MSU) completed the first building – the Grand Rapids Research Center – in late 2017. MSU since has entered into a public-private partnership with Health Innovation Partners LLC to facilitate continued development at the roughly 4.2-acre property.
Health Innovation Partners plans to build a 200,000-square-foot medical innovation building to be occupied partially by MSU, with the majority of the space leased to private sector partners. This phase of the project will begin in October and will include a 600-vehicle parking ramp, some of which will be available to the public. The project is estimated to involve private investment of $83 million and result in the creation of 250 to 300 new jobs.
“This is an exciting proposal that expands the capacity and capabilities related to research and innovation at the Grand Rapids Innovation Park,” said Kara Wood, the City’s managing director of economic development services. “The success of the Grand Rapids Research Center has had tremendous impact in our city, and we are grateful for MSU’s and Health Innovation Partners’ work and investment to further the mission and vision for this important property.”
The development and reimbursement agreement provides for reimbursement for eligible activities totaling roughly $29 million and is the last step in the brownfield approval process. The brownfield reimbursement would cover the cost of the parking ramp, site preparation and infrastructure improvements at the property.
In 2015, the Brownfield Redevelopment Authority obtained a $1 million grant from the Michigan Department of Environmental Quality – now Environment, Great Lakes and Energy – to assist in the demolition of the former Grand Rapids Press building at the site and cleanup of contamination in the building and on the property. At the time, the Brownfield Redevelopment Authority also approved a brownfield plan for the future phases of development – anticipated to be completed by private development partners.