Grand Rapids envisions theater nearly the size of Pine Knob — right downtown
To move forward, the Convention/Arena Authority must secure the $116 million, which includes a request to the state for $30 million. The amphitheater project is ambitious and could take a decade to fully complete, but the authority has a track record of success with other public/private projects. The CAA is the public authority that owns Van Andel Arena, DeVos Place and DeVos Performance Hall. It’s been discussing the idea of creating an amphitheater in Grand Rapids for about 15 years, MacKeigan said.
The 201 Market Ave. property that would be home to the amphitheater has been the subject of real estate development rumors in the city for years. It was once touted as the site of what became known as the “Mystery Project” after Atlanta developer Duane Faust pitched a plan for a multimillion-dollar development in 2006. It was dubbed the Mystery Project mainly because no one at City Hall was discussing details, like the viability of the plan and taxpayer risk if the property sale was approved. The project fizzled, though Faust returned to Grand Rapids in 2010 with his idea for “River Grand,” a scaled-down plan that was to be financed through a federal Build America program. That plan was scrapped after the city found the finances would not work.
Important utility work on the amphitheater project has already begun. The city, the CAA, Amway Hotel Corp. and a company connected to the DeVos family have contributed to an $18.6 million project that is relocating a sewer that runs through the properties being considered for redevelopment. The sewer must be moved for any construction to take place at the site.
Posted By: Crain’s Detroit Business on April 29, 2022. For more information, please click here to read the source article.
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