CWD Real Estate Has Plans for New Hotel in Downtown Grand Rapids
- Mar 03, 2014
By Veronica Grecu, Associate Editor
With business going strong in the Grand Rapids area, the demand of more hotel space is growing as well. A new hotel project was announced earlier this month by CWD Real Estate Investment, the city’s largest real estate investment and property management firm.
The yet-to-be-named hotel will occupy an existing surface parking lot at the corner of Monroe Avenue and Louis Street NW and will be connected to 50 Monroe, a modern office building that was acquired by CWD in March 2012. As reported by the Grand Rapids Business Journal, the parking lot was purchased by CWD in April 2012.
“This site, which is literally in the center of our City, has been a parking lot for at least 30 years,” said in an official statement CWD co-managing partner, Sam Cummings. “We are thrilled with the prospect of adding an iconic structure to this important location and we hope to submit plans to the City of Grand Rapids Planning Department by late spring for construction to begin later this year.”
The conceptual plans were created by wHY Design’s internationally acclaimed architect Kulapat Yantrasast, who also designed the Grand Rapids Art Museum—a 125,000-square-foot ‘green’ building that became the first art museum in the world to receive LEED certification for environmental design.
According to the developer, the five-story hotel will include up to 150 rooms for guests who wish to stay five nights or more, as well as retail, restaurants and potentially residential units as part of a mixed-use project that aims to consolidate the city’s downtown area and the place to work, live and relax.
This is CWD’s first hotel project in Grand Rapids and comes shortly after the completion of renovations at the Ledyard Building, the Trust Building and 50 Louis, which also serves as the company’s new headquarters.
Click here for more market data for the Detroit area.
Rendering via CWD Real Estate