Three Downtown Grand Rapids Historical Landmarks to Undergo $4.5 Million LEED Renovation
Grand Rapids, MI, February 08, 2009 --(PR.com)-- Locus Development, organizers of downtown’s “Thirty-Eight” liner building development, has announced another downtown project of historic proportions. A $4.5 million, nearly 32,000 SF historic rehabilitation of the Flat Iron, Groskopfs and Herkner buildings (NW corner of Monroe Center & Ottawa Avenue) will combine the three structures internally into one contiguous building while maintaining the unique historical facades.
Floors two through four of the nearly 150 year old buildings will be internally connected and meticulously rehabilitated to provide nearly 9,000 SF of office space on each floor. The historical rehabilitation will seek LEED certification and will provide energy efficient conveniences such as entirely new mechanicals and windows. Tenants can enjoy the historical charm with modern, efficient amenities.
The Flat Iron building, located at 102 Monroe Center was built in 1860 and is the oldest building on Monroe Center. The ground level is occupied by Blakes Turkey and Locus Development’s headquarters reside on the second floor. The upper two floors are vacant. The Groskopfs building, at 112 Monroe Center, was also constructed in 1860. The ground level is in use by Groskopfs Fine Luggage and Gifts, but the upper three floors are vacant. Finally, the Herkner building, at 114 Monroe Center, was constructed in 1870 and is entirely vacant. The current tenants in the Flat Iron and Groskopfs buildings will remain and any vacant ground floor space in the three buildings will be used for retail use.
“Some portions of the Groskopfs and Herkner buildings have not been touched since the 1940’s,” notes Locus Development co-owner John Green. “The charm is there, but it will take some intricate rehabilitation to upgrade the buildings to modern standards. To have a 9,000 SF floorplan available at this landmark location is unique.”
“Our goal is to rehabilitate these functionally obsolete, but beautiful old buildings to further compliment the vibrancy of downtown Grand Rapids,” says Locus Development co-owner Andy Winkel. “The initial anticipated private investment is approximately $4.5 million.” Locus is pursuing both Federal and State historical tax credits, DDA Building Reuse Incentive Program (BRIP) grants, and MBT Brownfield credits. Without approval the redevelopment of these three landmark buildings will not likely occur.
But there has already been interest in the space.
Locus is in discussions with one first floor tenant for the Herkner space and feel they will be a great addition to downtown. Marketing of the upper floor office will begin once final approval is received of the various incentives. Locus will own all three buildings. Groskopfs will continue to own the first floor space to operate their 125 year old business. Assuming the necessary funding credits are granted, the project will begin in early this summer.
The architect is Cornerstone Architects and Orion Construction is the construction manager.
The project will be phased with exterior upgrades, demolition, and sandblasting beginning this summer and mechanical, electrical, and plumbing upgrades to occur as new leases are secured.
In a short time Locus Development has made a name for itself as a developer of unique urban developments that inspire downtowns. Other projects include Thirty-Eight, the $26 million public/private project with the City of Grand Rapids at Weston and Commerce, Hopson Flats and Founders Brewing, among others.
"There are very few buildings in the central city that provide 9,000 sf footprints per floor," Winkel notes. "By combining the three buildings Locus offers office tenants a unique opportunity to lease up to 27,000 sf on three floors."
"We look forward to restoring the Flat Iron name and bringing these three landmark buildings back to their glory," Green added.
Green, former owner of Elevation Group, and Winkel, former president of Kelwin Properties, established Locus Development in April of 2008 after working together on three very successful downtown renewal projects. The company is committed to building better, smarter places to live, work, and play in the city’s urban core. The company’s tagline “Life, People, Places” emphasizes the firm’s belief that the three components must work in harmony to create a truly great environment.
Learn more about Locus Development at www.locusdevelopment.com.
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Floors two through four of the nearly 150 year old buildings will be internally connected and meticulously rehabilitated to provide nearly 9,000 SF of office space on each floor. The historical rehabilitation will seek LEED certification and will provide energy efficient conveniences such as entirely new mechanicals and windows. Tenants can enjoy the historical charm with modern, efficient amenities.
The Flat Iron building, located at 102 Monroe Center was built in 1860 and is the oldest building on Monroe Center. The ground level is occupied by Blakes Turkey and Locus Development’s headquarters reside on the second floor. The upper two floors are vacant. The Groskopfs building, at 112 Monroe Center, was also constructed in 1860. The ground level is in use by Groskopfs Fine Luggage and Gifts, but the upper three floors are vacant. Finally, the Herkner building, at 114 Monroe Center, was constructed in 1870 and is entirely vacant. The current tenants in the Flat Iron and Groskopfs buildings will remain and any vacant ground floor space in the three buildings will be used for retail use.
“Some portions of the Groskopfs and Herkner buildings have not been touched since the 1940’s,” notes Locus Development co-owner John Green. “The charm is there, but it will take some intricate rehabilitation to upgrade the buildings to modern standards. To have a 9,000 SF floorplan available at this landmark location is unique.”
“Our goal is to rehabilitate these functionally obsolete, but beautiful old buildings to further compliment the vibrancy of downtown Grand Rapids,” says Locus Development co-owner Andy Winkel. “The initial anticipated private investment is approximately $4.5 million.” Locus is pursuing both Federal and State historical tax credits, DDA Building Reuse Incentive Program (BRIP) grants, and MBT Brownfield credits. Without approval the redevelopment of these three landmark buildings will not likely occur.
But there has already been interest in the space.
Locus is in discussions with one first floor tenant for the Herkner space and feel they will be a great addition to downtown. Marketing of the upper floor office will begin once final approval is received of the various incentives. Locus will own all three buildings. Groskopfs will continue to own the first floor space to operate their 125 year old business. Assuming the necessary funding credits are granted, the project will begin in early this summer.
The architect is Cornerstone Architects and Orion Construction is the construction manager.
The project will be phased with exterior upgrades, demolition, and sandblasting beginning this summer and mechanical, electrical, and plumbing upgrades to occur as new leases are secured.
In a short time Locus Development has made a name for itself as a developer of unique urban developments that inspire downtowns. Other projects include Thirty-Eight, the $26 million public/private project with the City of Grand Rapids at Weston and Commerce, Hopson Flats and Founders Brewing, among others.
"There are very few buildings in the central city that provide 9,000 sf footprints per floor," Winkel notes. "By combining the three buildings Locus offers office tenants a unique opportunity to lease up to 27,000 sf on three floors."
"We look forward to restoring the Flat Iron name and bringing these three landmark buildings back to their glory," Green added.
Green, former owner of Elevation Group, and Winkel, former president of Kelwin Properties, established Locus Development in April of 2008 after working together on three very successful downtown renewal projects. The company is committed to building better, smarter places to live, work, and play in the city’s urban core. The company’s tagline “Life, People, Places” emphasizes the firm’s belief that the three components must work in harmony to create a truly great environment.
Learn more about Locus Development at www.locusdevelopment.com.
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Locus Development
Craig Clark
(616) 550-2736
www.locusdevelopment.com
Craig Clark
(616) 550-2736
www.locusdevelopment.com
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