GRAND RAPIDS, Mich. – The next phase of development along the base of Medical Mile has been approved.
The City of Grand Rapids Brownfield Redevelopment Authority has approved the next phase of the Grand Rapids Innovation Park at the northeast corner of Michigan Street and Monroe Avenue. The next construction will be a 200,000 square foot medical innovation building which will be partially occupied by Michigan State University and the remaining will be leased to private sector partners.
The first building in the park was the Grand Rapids Research Center, built by MSU in 2017.
Health Innovation Partners will start building the new structure in October. The building will include a 600-vehicle parking ramp, some of which will be available to the public. The project is expected to bring in 250 to 300 new jobs.
“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 in a press release. “The success of the Grand Rapids Research Center has had 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.”
The agreement provides about $29 million in reimbursements for the project, which could cover the cost of the parking ramp, site preparations and other improvements.