GRAND RAPIDS, Mich. - The City of Grand Rapids' Brownfield Redevelopment Authority has approved the next phase of development at the Grand Rapids Innovation Park.
The next phase includes a development and reimbursement agreement with Health Innovation Partners LLC.
Michigan State University completed the first building in late 2017 and has since entered into a public-private partnership with Health Innovation Partners to facilitate continued development.
“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 a 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.”
Health Innovation Partners plans to build a 200,000-square-foot medical innovation building that will be occupied partially by MSU and the majority of the space leased to private sector partners. The project will begin in October and is estimated to involve private investment of $83 million and result in the creation of 250 to 300 new jobs.
It will also include a 600-vehicle parking ramp, some of which will be available to the public.
The development and reimbursement agreement provides for reimbursement for eligible activities totaling $29 million and is the last step in the brownfield approval process. The 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 Environment, Great Lakes and Energy (EGLE) 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.
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