Massive Riverfront Project

[torgo]

Hmm...

Newsradio Wood 1300 claimed that the only way that this development will work is if it has free parking.

Now compare that mode of thought to our "High Cost of Free Parking" thread...

Wasn't this the same station that six months ago claimed that downtown was dead and there was nothing to do?

[AlexPKeaton]

What would be more beneficial to the area? A massive office / research development bringing in high wage earners or a regional entertainment / retail development bringing in lower paying jobs and visitors / money from outside the area.

I would have to imagine the office/research scenario would be more beneficial. Grand Rapids is not a tourist destination and I doubt this project would turn it into one. While it could draw some outside money I don't think it would be a significant amount.

-nb

[HolidayInnExpress]

One of the things that I cannot reconcile is the

[localtalent]

Hi, new viewer/user of this site, but this issue brings us all out from under our rocks.

I think it's nice that there is a group of passionate Grand Rapids people cheerleading things along here. And I don't think there's a whole lot of harm in the speculation; going public isn't going to increase the values these guys are paying on the options. I'm sure those property owners had already discussed the situation over a few beers as soon as the brokers made their first pass through the neighborhood.

However, I do think you guys should take regular "reality check" breaks. The amount of development going on downtown is exciting, but this riverfront project isn't anything near what you all are making it out to be.

It's not close to being a done deal, despite what Geha says, and even if the optioning gets worked out, the end result doesn't have the national splash some of you think. It's just another development deal. Cool, no doubt...but not billions of dollars and not thousands of jobs.

Anyway, keep up the fun discussions. This is a great site.

[twoshort]

but this riverfront project isn't anything near what you all are making it out to be.

It's not close to being a done deal, despite what Geha says, and even if the optioning gets worked out, the end result doesn't have the national splash some of you think. It's just another development deal. Cool, no doubt...but not billions of dollars and not thousands of jobs.

Are you basing these statements on your personal knowledge, or are you just guessing?

[localtalent]

Are you basing these statements on your personal knowledge, or are you just guessing?

I'll let you draw your own conclusions on that based on the totality of my post.

[jayblogger]

Hi, new viewer/user of this site, but this issue brings us all out from under our rocks.

I think it's nice that there is a group of passionate Grand Rapids people cheerleading things along here. And I don't think there's a whole lot of harm in the speculation; going public isn't going to increase the values these guys are paying on the options. I'm sure those property owners had already discussed the situation over a few beers as soon as the brokers made their first pass through the neighborhood.

However, I do think you guys should take regular "reality check" breaks. The amount of development going on downtown is exciting, but this riverfront project isn't anything near what you all are making it out to be.

It's not close to being a done deal, despite what Geha says, and even if the optioning gets worked out, the end result doesn't have the national splash some of you think. It's just another development deal. Cool, no doubt...but not billions of dollars and not thousands of jobs.

Anyway, keep up the fun discussions. This is a great site.

Welcome!

So when do you think there will be a public announcement on this? I think it will be in about 10 days or so. I had to throw a few darts at the wall to come up with that estimate =;-)

[twoshort]

I'll let you draw your own conclusions on that based on the totality of my post.

Well everyone is allowed a guess!

[localtalent]

Welcome!

So when do you think there will be a public announcement on this? I think it will be in about 10 days or so. I had to throw a few darts at the wall to come up with that estimate =;-)

Heh, well....I suspect they'll want to get on top of the information flow pretty quickly now that everyone's gotten so lathered up about it. There are going to be some serious expectation management challenges with the way the press has blown this up.

But I couldn't say specifically when.

[JDrew]

It's just another development deal. Cool, no doubt...but not billions of dollars and not thousands of jobs.

that was an interesting post local. not sure if i should assume that you know exactly what this project is, but in the Geha interview, she asked Shurlow if it was indeed a "one or 2-3 billion dollar" development as rumors are saying, and shurlow acknowleged that as an accurate statment as far as i could tell.

[torgo]

Yah local, your the first one who has thrown a big bucket of icy cold water on us . But is interesting nonetheless, because it makes you think, if only for a second, if all the hype is just that -- hype, or is it really as big as they say it is? I guess no one really knows for sure.

[localtalent]

that was an interesting post local. not sure if i should assume that you know exactly what this project is, but in the Geha interview, she asked Shurlow if it was indeed a "one or 2-3 billion dollar" development as rumors are saying, and shurlow acknowleged that as an accurate statment as far as i could tell.

Well, one frequently reads into a situation that which is most beneficial to oneself.

You may have heard her "acknowledge" that, but I didn't hear her "acknowledge" much of anything.

But it doesn't matter what you or I say; there will be real info for everyone to chew on soon enough.

[twoshort]

and shurlow acknowleged that as an accurate statment as far as i could tell.

She also acknowledges that the project 'could' have national significance.

[downhill-racer]

that was an interesting post local. not sure if i should assume that you know exactly what this project is, but in the Geha interview, she asked Shurlow if it was indeed a "one or 2-3 billion dollar" development as rumors are saying, and shurlow acknowleged that as an accurate statment as far as i could tell.

the things i hear

"THE SOUND OF MUSIC"

grandrapids= music city

a world class media company record div.

and i hear things

[twoshort]

You may have heard her "acknowledge" that, but I didn't hear her "acknowledge" much of anything.

Geha: 'We have heard the cost of the project could bea billion, two billion, three billion. Is that right"

Shurlow: "that's accurate."

If what you say is true, it sounds like there will be a LOT of expectation management to be done

[Rizzo]

Maybe thats why they will hire their own PR firm? I would say that if Shurlow was putting all this effort into helping the deal why would she toss it all away with a little hype?

[localtalent]

Maybe thats why they will hire their own PR firm? I would say that if Shurlow was putting all this effort into helping the deal why would she toss it all away with a little hype?

I'm sure the developer already has PR resources in place.

And no one said Shurlow was tossing it away by hyping it.

She's just trying to do her job without making people upset; she's a broker. You don't talk your deal down. Ever.

And even then, she's not exactly the firestarter here.

[Rizzo]

^Yah, but you have to atleast say that some people would say shes putting her reputation on the line by acknowledging some potentially controversial figures. Hype can be quite the powerful thing implied or subtle, no matter how its delivered its still powerful.

[JDrew]

I'm sure the developer already has PR resources in place.

And no one said Shurlow was tossing it away by hyping it.

She's just trying to do her job without making people upset; she's a broker. You don't talk your deal down. Ever.

And even then, she's not exactly the firestarter here.

I completely agree that you never talk your deal down, but you also dont talk your deal UP to billions of dollars if its nowhere close to that. That would be even worse in my opinion. Billions talk generates outrageous expectations and speculation, as we have seen in this thread already. I mean, she has her reputation on the line as well by the statements she made. I find it hard to believe she would affirm those numbers if there wasnt some kind of truth to it.

What do you think?

[localtalent]

I completely agree that you never talk your deal down, but you also dont talk your deal UP to billions of dollars if its nowhere close to that. That would be even worse in my opinion. Billions talk generates outrageous expectations and speculation, as we have seen in this thread already. I mean, she has her reputation on the line as well by the statements she made. I find it hard to believe she would affirm those numbers if there wasnt some kind of truth to it.

What do you think?

What element of her reputation as a commercial broker is on the line when she talks to a reporter?

No one considering her services is going to care whether she answered questions correctly, incorrectly, directly or obliquely. They'll care whether she got the deal done.

You guys might be disappointed in her, but the folks she makes a living off of will know what to look for.

[PBJ]

I completely agree that you never talk your deal down, but you also dont talk your deal UP to billions of dollars if its nowhere close to that. That would be even worse in my opinion. Billions talk generates outrageous expectations and speculation, as we have seen in this thread already. I mean, she has her reputation on the line as well by the statements she made. I find it hard to believe she would affirm those numbers if there wasnt some kind of truth to it.

What do you think?

Kinda my thoughts as well.. as we've said about others over hyping their projects, they'd be run out of town. Nobody wants to look like the moron who got everyone excited for nothing. When you throw those numbers out, people are going to get excited, and you know it.

[twoshort]

[HolidayInnExpress]

I'm sure the developer already has PR resources in place.

And no one said Shurlow was tossing it away by hyping it.

She's just trying to do her job without making people upset; she's a broker. You don't talk your deal down. Ever.

And even then, she's not exactly the firestarter here.

I think LT could have a valid point given that this will be a "Phased" development. The time frame of the phases could be 10 or 15 years. The first phase is the true meat and potatoes and that investment that will likely be based upon current market demand, while the future phases will be contingent upon future market and demographic realities...assuming that this will be an entertainment/retail/office project.

[Rizzo]

^^I second that A+ for context!

NBA-NHL keep saying it in your head.

[JDrew]

What element of her reputation as a commercial broker is on the line when she talks to a reporter?

No one considering her services is going to care whether she answered questions correctly, incorrectly, directly or obliquely. They'll care whether she got the deal done.

You guys might be disappointed in her, but the folks she makes a living off of will know what to look for.

Well, I'm not sure if you are from Grand Rapids or not, but I know from living here my whole life that honesty and integrity goes a long way in this community. Deceit and misleading are frowned upon no matter if it "gets the deal done" or not.