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Any updates on the former Marie Catribs? I thought we we would have heard an announcement by now. But the place just sits . . . Dark, lonely, with all the chairs on the tables Sent from my iPhone using Tapatalk

Mbiz recently moved some of their offices to wealthy st. Sent from my iPhone using Tapatalk

Yeah, but since the last purchase, there has been tons of work done to the main floor and apartments upstairs. The sale includes all the equipment and the liquor license. I’m guessing he has about 1.5m into it already Sent from my iPhone using Tapatalk

yeah but only Repolite sells Repcolite paint no more driving to the edges of town i'm thrilled!

Offer already pending on the place after a few days. Agree that it’s crazy, but doesn’t seem to be slowing down Sent from my iPhone using Tapatalk

Things are changing. Take a look at this listing. I think this sold for less than 10k a few years ago. I know the place next door last sold for 8k https://www.grar.com/property/mls/18023177 Sent from my iPhone using Tapatalk

I ride my bike downtown to work every day. But I know that’s not for everyone. Sent from my iPhone using Tapatalk

Hard to say Houses in the same block and a couple blocks in one direction sell for under 100k. Two blocks in the other direction things are going to 200-300k. I'm guessing it would sell for mid to high 100k I should say, that this house is a very atypical situation. The seller had gutted it, made it into an open floor plan, new roof, windows and siding and then bank foreclosed on it. As far as being part of the problem . . . i'd rather have someone local own and manage it than someone out of state or a private equity first.

It not a fantasy in my experience as a rental property owner . And i'm guessing its not for a lot of others who bought in the aftermath of the 2008 ish crash. For example: We paid 20k for a 3 bedroom house in 2010. Put 50K into it. Almost everything in it is new other that the foundation and the studs. It rents for about $1350 a month. Taxes are about $1400 a month. I think insurance is around $1000 a year for $200k of coverage . It may cost more to build it new, but i never have had an insurance agent nervous when we have asked for a lower insurance amount than the rebuild cost. There are still deals more recent than that - About two years ago, we bought a 3 bedroom house for 30k. It had been a land bank house that had sold for 10k. The person we bought it from flipped it in a month putting at best 10k into it in a somewhat sloppy redo. We spent an additional 5k in improvement. While it not not very fancy, and still looks a bit rough on the outside, it rents at substantially below market rate to a family was previously living on someones couch. The property doesn't make a lot of profit but still beats most mutual funds. I have several more examples. i think there are still opportunities like this out there. There are just fewer than 7-8 years ago. I see that land bank has properties that sale is restricted to people with certain income levels. What those same homes could be sold to an investor who would agree to rent to people below certain income levels?

Hmmm I guess you can have your opinion on where humans should live, but there are some empty lots within a few blocks of my house. There are not many, but all the people living around them don't seem to mind the neighborhood.

Hmmm Clearing out Everything in the old Gaia place is up on Craigslist https://grandrapids.craigslist.org/bfs/5944005601.html

That heating and cooling business is still in business.

Or maybe the other building at wealthy and Charles that is for sale . . .

Wow I remember that. So much in 10 years

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Agreed. As someone who lives very close to this, i also like to see a three story building built out the street too, but i'm guessing this was done to appease the HPC. I dont think this is a final drawing and there are details that still need to be worked out. Green Cane/IA is on the agenda for the next HPC meeting Oct 7. It will be interesting to see what come from that.

Does anyone know if this got approved?

nevermind

I think there are new plans for 1059 Wealthy (the former McDonalds), same owner - but Orion is out.

I think the owner is still working on a plan that will meet the expectations of the neighborhood and the historical preservation commission. I think something new is coming. He has said that, in the meantime, the rents are paying the bills.

That addition isn't even 20 years old. The original building went up in 1976 and the "strip mall" addition went up in 2000, after much debate. I don't think the building has ever been filled since the addition was added.

What i have heard second hand so far is demo for new mixed used development with 5000-8000 sq ft retail space and 20-30 apartments. No mention of parking ramp (? yet). I'm guessing there are others here listening who might know more. I have some historical photos/pictures of the site that i can post once i figure out how to attach pictures. (my first attempt failed).

Yes, that is is the building.