Wealthy Street Mega Thread

[thebeerqueer]

On 10/9/2019 at 4:27 PM, ChevalierNoir said:

I got to tour the mines for work.. really cool, and really tasty. 

I want to go to there

[GR_Urbanist]

Progress on 708:

Height compared to Elk Brewing.

[mpchicago]

I really like the proportions of this new building - the height of the first floor is well done .  The street level will have a nice presence.

[terra firma]

On 9/23/2019 at 8:34 AM, GRDadof3 said:

This building looks just about finished. Any movement on potential tenants @terra firma? Nice addition to the neighborhood. 

Thanks GRD3.   We're happy with how it turned out for sure, our friends at McGraw Construction got it done ahead of schedule and on-budget.

To my amazement, NO tenants yet.   Plenty of prospects, but nothing 'done deal' yet.   

 We also think there could be a market for smaller buyers and so we are going to also list it as two separately available retail condo units.    Sizes approx. 1500 SF.   Perhaps there is an operator out there who would prefer to own than pay rent ?  There's nothing for sale really in the neighborhood, other than un-renovated stuff that is very expensive and requires intensive renovation--- those aren't really ideal for someone trying to run a shop and be a hobbyist-developer at the same time.  

Maybe someone would like a ready-to-go suite they could purchase?     

Let's go test the market.

eric

[mpchicago]

41 minutes ago, terra firma said:

Thanks GRD3.   We're happy with how it turned out for sure, our friends at McGraw Construction got it done ahead of schedule and on-budget.

To my amazement, NO tenants yet.   Plenty of prospects, but nothing 'done deal' yet.   

 We also think there could be a market for smaller buyers and so we are going to also list it as two separately available retail condo units.    Sizes approx. 1500 SF.   Perhaps there is an operator out there who would prefer to own than pay rent ?  There's nothing for sale really in the neighborhood, other than un-renovated stuff that is very expensive and requires intensive renovation--- those aren't really ideal for someone trying to run a shop and be a hobbyist-developer at the same time.  

Maybe someone would like a ready-to-go suite they could purchase?     

Let's go test the market.

eric

Looks a helluva lot better than the vacant lot and run down house that was there before.  Nice work Eric!  Are rents in line with the rest of the block or does the new build mean higher rents?  Just trying to get an understanding of why it may not be filling up as quickly as your other renovated buildings along the stretch.    Look forward to seeing this space filled in coming months.

[Kporter]

It’s too bad investors in the area burned down the old Wild Bunch club house on purpose to get them out and drive up property value! I frequented the club house and it had an amazing stage and could have been a great venue!  Rich people and there gentrifying ways ruining Grand Rapids! 

[Pattmost20]

Mlive's comment section is a great place for conspiracy theories, let's keep discussion here rational.

 

Edited October 22, 2019 by Pattmost20

[joeDowntown]

46 minutes ago, Kporter said:

It’s too bad investors in the area burned down the old Wild Bunch club house on purpose to get them out and drive up property value! I frequented the club house and it had an amazing stage and could have been a great venue!  Rich people and there gentrifying ways ruining Grand Rapids! 

First, welcome Kporter. Second, wild accusations (of criminal intent) are not welcome here. Unless you are about to blow the lid off some conspiracy because you have proof, keep it to yourself. Or, as someone else said, move on to Mlive. 

Looking forward to productive posts. Thanks!

Joe

[GRDadof3]

On 10/22/2019 at 2:37 PM, terra firma said:

Thanks GRD3.   We're happy with how it turned out for sure, our friends at McGraw Construction got it done ahead of schedule and on-budget.

To my amazement, NO tenants yet.   Plenty of prospects, but nothing 'done deal' yet.   

 We also think there could be a market for smaller buyers and so we are going to also list it as two separately available retail condo units.    Sizes approx. 1500 SF.   Perhaps there is an operator out there who would prefer to own than pay rent ?  There's nothing for sale really in the neighborhood, other than un-renovated stuff that is very expensive and requires intensive renovation--- those aren't really ideal for someone trying to run a shop and be a hobbyist-developer at the same time.  

Maybe someone would like a ready-to-go suite they could purchase?     

Let's go test the market.

eric

Thanks for the update Eric. I too am surprised it isn't filled up yet. A purchase option might be the way to go. Good luck! 

Jeff

[grandrollerz]

plenty of places to talk about founders, but wow, just wow! what a terrible legal strategy.

 

ouch

 

 

Sent from my Acer Chromebook R11 (CB5-132T, C738T) using Tapatalk

 

 

 

 

[grandrollerz]

(oops, dupe)

[RegalTDP]

On 9/2/2019 at 7:58 AM, RegalTDP said:

Fair enough, but if it adds any perspective from this side of the country, Founders and Bells are the only two Michigan beers I can get from the supermarkets in my neighborhood.  They carry only a few other brands from east of the Rockies.  Two beers from Michigan out here and both from the West Side.  I ain't ashamed to tell people about them.

^^^ Words I posted a few weeks ago.

So, yeah... Starting to rethink that a little... For one of them anyway.

[GR_Urbanist]

https://www.google.com/maps/@42.9555749,-85.6488989,3a,75y,212.51h,89.38t/data=!3m6!1e1!3m4!1s-RT9jvDuEb8G-326GtNmnQ!2e0!7i13312!8i6656

I have no idea if this is something that has been known for a while, but this building looks like it is finally up for sale!

I'm thinking it will go quickly as it is the last of the smaller boarded-up buildings on Wealthy that has yet to be renovated, and will basically cap-off an almost 15 year effort of renovating the street when it is finally done.

I'm also excited to see what can be done with it. Just taking off those ugly ground floor additions, and restoring the windows, will be worth it alone!

Edited October 26, 2019 by GR_Urbanist

[joeDowntown]

Has anyone read the transcripts from the deposition? What a trainwreck from a PR (and overall company culture) perspective. They even had to close the Founders Detroit taproom “indefinitely”. It’s getting some national coverage as well. I’m sure San Miguel is not pleased. 

I think this article sums it up nicely. This could be used as business class curriculum on “what not to do”:

http://www.deadlinedetroit.com/articles/23560/stamm_founders_shows_what_spills_when_lawyers_call_the_shots

Joe

[egrguy]

Is the sign on the entry door a condemned sign? I remember them doing some exterior roof work a couple of years back. Good news to see it on the market.

On 10/26/2019 at 1:22 PM, GR_Urbanist said:

https://www.google.com/maps/@42.9555749,-85.6488989,3a,75y,212.51h,89.38t/data=!3m6!1e1!3m4!1s-RT9jvDuEb8G-326GtNmnQ!2e0!7i13312!8i6656

I have no idea if this is something that has been known for a while, but this building looks like it is finally up for sale!

I'm thinking it will go quickly as it is the last of the smaller boarded-up buildings on Wealthy that has yet to be renovated, and will basically cap-off an almost 15 year effort of renovating the street when it is finally done.

I'm also excited to see what can be done with it. Just taking off those ugly ground floor additions, and restoring the windows, will be worth it alone!

 

[ModSquad]

Yikes!  They are asking $825,000 for this building.  

[GR_Urbanist]

8 minutes ago, ModSquad said:

Yikes!  They are asking $825,000 for this building.  

Oh good grief.

That is the big reason why I hate that the city never leaned on these guys with at least stricter aesthetic standards years ago. They buy these buildings decades back, board them up, store junk in them, just do the minimum upkeep, and then push on the market when they are ready to flee to Florida for an absurd amount.

This building doesnt really even have off-street parking, and will obviously require a lot of work on the outside, likely inside too.

He may find out soon that it isnt going to be that big of a retirement windfall as he planned when someone tells him that this cost is going to have to come down a little.

If this is really worth that much, then the Tatum building must be worth almost 2 million!

 

[walker]

Something different: my listicle of six different songs all with Wealthy Street in their names found on YouTube written and performed by people with some connection to our Wealthy Street;

Wealthy Street by Big Boss Blues

Wealthy Street by Juano Lippi

Wealthy Street by Drew Nelson

Wealthy Street by Drawing Monsters

Wealthy Street by organissimo

Wealthy Street Rag by RFD Boys

Surprisingly, they are all pretty good.

Are there any others?

Edited December 5, 2019 by walker

[GR_Urbanist]

Blurry 708 Wealthy frontage. These guys got that done quick!

 

[joeDowntown]

35 minutes ago, GR_Urbanist said:

Blurry 708 Wealthy frontage. These guys got that done quick!

 

Looks nice. Does the 2nd story have a balcony (Center)? 
 

Joe

[gunnerdouzi]

Just a little movement/sneak peak at 928 Wealthy  

[EastownLeo]

East West Brewing Company going away?

https://www.grar.com/property/mls/19051539

[Pattmost20]

7 minutes ago, EastownLeo said:

East West Brewing Company going away?

https://www.grar.com/property/mls/19051539

It has been listed for a while. Wouldn't be surprised given the history of restaurants coming and going from that location.

Edited November 18, 2019 by Pattmost20

[Pattmost20]

17 minutes ago, gunnerdouzi said:

Just a little movement/sneak peak at 928 Wealthy  

Heard rumors they were looking on Wealthy street. Glad to see it is actually happening.

[Guest]

 

1 hour ago, EastownLeo said:

East West Brewing Company going away?

https://www.grar.com/property/mls/19051539

 

Only $19 fiddy?

 

 

 

Edited November 18, 2019 by Floyd_Z