Crain's Grand Rapids Business, September 16, 2024

Commercial corridors could hold housing key

Study nds public utilities, transit and underutilized buildings already in place would work well for developers

By Rachel Watson

More than 3,000 acres of vacant or underdeveloped land with existing access to public utilities could help put a major dent in Kent County’s housing shortage while spurring more than $10 billion in new investment and $100 million in new tax revenue. ose are among the preliminary ndings released Aug. 28 by Housing Next, which is studying 32 commercial corridors in Kent County that could accommodate future housing develop-

ment based on the presence of public utilities, transit, and underutilized or vacant buildings.

A targeted e ort by local governments, developers and investors to develop those 3,000 acres

RiverTown Crossings mall owner plans to make investments

Poag Development Group schedules immediate cosmetic upgrades, more improvements later

By Kate Carlson

e new owner of the RiverTown Crossings mall in Grandville plans to upgrade and add more density to the property, potentially with more retail, hotel space or multifamily residential.

Memphis, Tenn.-based Poag Development Group on Aug. 30 announced the acquisition of the nearly 1.3-million-square-foot, two-story mall just east of I-196. Poag bought the property from Brook eld Property Partners LP, which had acquired RiverTown Crossings in 2018 for $60.6 million, according to property records.

Poag Development rst plans cosmetic upgrades to the property located at 3700 Rivertown Parkway, which has not had capital allocated to it in the past few years, company CEO Josh Poag told Crain’s Grand Rapids Business. Initial investments in the coming months will target issues like potholes and overgrown landscape on the property, he said.

Engineers are evaluating the two-story parking deck to determine both short- and long-term

solutions for the aging structure, Poag added.

e announcement on the mall acquisition kicked o Poag’s engagement with store owners and local o cials on potential redevelopment plans.

“We have ideas, but we are rm believers that collective

Entrepreneurs tap hydrogen-infused water market

Former Founders Brewing chair and his partner turn attention to new product

By Abby Poirier

A pair of veteran food and beverage industry executives in West Michigan have created a new brand of sparkling water they’re positioning as a smoother-tasting option compared to existing carbonated products, all at an a ordable price point.

Serial entrepreneur and investor John Green, who previously

served as chairman of Founders Brewing Co., partnered with Trent Hartwig to launch oHy, a new hydrogen-infused sparkling water brand that they intend to bring to market in 2025.

e duo currently work together at Revolution Farms, a Caledonia-based producer of hydroponically grown lettuce and leafy greens that Green founded and where Hartwig serves as president.

John Green, left, and Trent Hartwig are launching the oHy brand to create what Green describes as “sparkling water 2.0.” The company’s products are infused with hydrogen, as opposed to carbon dioxide, to create what they describe as a smoother drink.

While most products in the category use carbon dioxide to make them “sparkle,” hydrogen water like oHy’s line of products is made with pure water infused with hydrogen gas product before canning or packaging it for

ARTS AND ENTERTAINMENT

What to know before coming to ArtPrize

The 28th Street corridor in Kentwood looking northeast from the intersection with East Beltline Avenue.

CITY OF KENTWOOD

HIGHER EDUCATION:

Construction crimps Division Avenue retailers’ sales

Work at Fulton Street intersection also will affect foot traffic from Artprize visitors

By Abby Poirier

A road reconstruction and resurfacing project has closed down a major downtown intersection and cut off parts of the street for weeks, causing nearby businesses to struggle during what should be their busiest time of year.

The multimillion-dollar infrastructure project closed the intersection of Fulton Street and Division Avenue in downtown Grand Rapids in mid-July. The intersection is slated to remain closed until

early November as part of the reconstruction project, which includes new curbs and gutters, according to the city of Grand Rapids’ website.

In addition to the intersection, a section of South Division between Fulton Street and Weston Street remains closed to traffic as the road is resurfaced and crews install new lighting and new telecommunication systems.

That block is home to Second Vibess and Rewind, two clothing shops that opened within the last

two years.

Both companies say the street closure has dealt a blow to business during the summer months when they count on downtown foot traffic to generate new sales.

“Foot traffic has decreased significantly since they shut off South Division from Fulton to Weston,” Second Vibess co-owners Kaitlynn Fitzpatrick and Camille Steverson said in a joint statement.

Located at 13 S. Division Ave.,

What to know before coming to ArtPrize Bank of America opens West Michigan private bank

Grand Rapids’ signature arts event began Sept. 13 and could bring as many as 1 million people weaving in and out of businesses and through the streets of the city’s downtown and surrounding areas.

Known for attracting global artists and audiences, ArtPrize — which event officials say brought in $54.7 million of new economic activity to Grand Rapids last year — spans 16 days with a mix of public and ticketed events.

“(ArtPrize) is where we get to highlight the artists, the people, the humanity that brings us together,” said Alex Benda, co-owner of Oh, Hello Co. Paper and Gifts, a downtown retail crafts store. “Everyone from every walk of life has a reason to go to ArtPrize and see something.”

While the operations and format of ArtPrize have morphed over recent years, the event’s focus on engaging the public with global artists remains the same.

Here’s all you need to know if you’re coming to this year’s event.

What is ArtPrize?

ArtPrize is an annual international art competition and cultural event. Submitted pieces

are spread throughout downtown Grand Rapids to create an immersive art experience that weaves galleries into various businesses, outdoor spaces and downtown buildings.

While the core of the event is the art competition, ArtPrize hosts more than 60 events, including an opening night celebration with fireworks and interactive art experiences.

When and where is ArtPrize 2024?

ArtPrize takes place from Sept. 13-28. The competition will continue to take place annually, said Mark Osgerby, director of communications and marketing for ArtPrize.

The event takes place in downtown Grand Rapids across five districts — Center City, Northside, Southside, Eastside and Westside. The event takes up 4 square miles, Osgerby said. Is there any cost to attend ArtPrize?

ArtPrize is a free, public event. Some specific events require paid tickets and can be found on the ArtPrize events page, www.artprize.org.

Officials say growing local economy prompted the decision to locate downtown

By Mark Sanchez

Extending Bank of America’s private bank to Grand Rapids follows a growing local economy that’s creating more wealthy individuals, according to company executives.

Bank of America Private Bank for years has served high-networth clients in West Michigan from a location on the east side of the state. However, the local market’s economic vibrancy led Bank of America to open a private bank office in Grand Rapids to serve wealthy clients locally and with hopes of growing market share.

“Bank of America has recognized that Grand Rapids is a growth opportunity,” said Brad Harrison, senior vice president and private client adviser for Bank of America Private Bank.

Harrison previously spent nearly 20 years with Huntington Bank’s private bank in West Michigan, most recently as senior vice president and regional director, before

An ongoing construction project in the area of Fulton Street and Division Avenue in downtown Grand Rapids has caused challenges for local retailers along the corridor, who are experiencing less foot traffic. | AbbY pOIrIer

The 2023 Winner “Raining Wisdom” by Abdoulaye Conde, who is pictured with Grand Rapids Mayor Rosalynn Bliss. | COUrteSY OF ArtprIZe

Bank of America’s virtual retail branch in downtown Grand Rapids. | mArK SANCHeZ

A 2023 ArtPrize winner selected by a panel of expert judges. COUrteSY OF ArtprIZe

Famed architecture firm’s ‘Dream House’ is on the market in Douglas

By Rachel Watson

A house based on plans by the architect who designed Jacqueline Kennedy Onassis’ home on Martha’s Vineyard is up for sale in Douglas, two years after it was built.

Interior designer Doug Zander listed his three-bed, three-bathroom home for $2.3 million on Aug. 24. Century 21 Realtors Tammy Kerr and Cynthia Beckman have the listing.

The nearly 3,200-square-foot home was completed in 2022 and is based on an updated version of the “1998 Life Magazine Dream House” plans that the late architect Hugh Newell Jacobsen was hired to produce as part of the magazine’s middle-class home design challenge of the 1990s.

Jacobsen, who was born in Grand Rapids in 1929 and died in 2021, was an internationally acclaimed East Coast-based architect who designed more than 400 homes during his 66-year career. One of them was Kennedy Onassis’ Martha’s Vineyard refuge, Red Gate Farm, that was completed in 1981.

In 2009, Jacobsen and his son, Simon Jacobsen, co-founded Washington, D.C.-based Jacobsen Archi-

of six top architects that Life hired — one per year between 1994 and 1999 — to produce low-cost home plans that everyday people could buy and build affordably, helping them achieve the “American Dream” on a budget.

The year Jacobsen did the challenge, the brief was to produce plans to sell for $250 each that could be built for $200,000. According to Jacobsen Architecture’s website, Life sold 945 of the Jacobsen-designed plan sets to DIY buyers across North America, Asia and Latin America.

The Dream House Jacobsen devised not only had his signature 45-degree-angle pitched roofs, oversized chimneys and clean lines, but was a “flexible and expandable” H-shaped form inspired by the 1910-era works of British architect Sir Edwin Landseer Lutyens (1869-1944).

“We really thought it was a great design, because it’s so simple, and it can be expanded and shrunk and totally altered in the way that it’s orientated,” Simon Jacobsen said in an interview with Crain’s Grand Rapids Business.

When Life magazine ceased printing in 2007, its investors retained ownership of the home plans. In 2016, the Jacobsens released their own similar designs updated for modern sensibilities and building codes, dubbed the Dream House 2.0. The firm licensed them to Herring Bay Holding Company, and they are available online for $2,300 apiece.

The nearly 3,200-squarefoot home was completed in 2022 and is based on an updated version of the “1998 Life Magazine Dream House” plans that the late architect Hugh Newell Jacobsen was hired to produce as part of the magazine’s middle-class home design challenge of the 1990s.

tecture, an award-winning firm that designs custom projects around the world.

The Dream House remains their only set of stock home plans they’ve made available to the public for purchase.

Zander, who splits his time between Palm Springs, Calif., and Michigan, is parting with the house after just two years in hopes of buying another lot in Douglas to build a similar house.

“This was a fun project, and I’d kind of like to do it again,” he said.

‘Dream’ homes for the middle class

Hugh Newell Jacobsen was one

Zander bought one of the 2.0 designs several years ago and worked with the Jacobsens initially to refine the plans for his needs.

Simon Jacobsen said the Dream House was “a labor of love” for him and his father.

“I usually try and get involved with each (Dream House buyer) a little bit just to steer them in the right direction,” he said. “… All of the bits and pieces that you see in the works of my father and myself over the years are inside this Dream House.”

Though he ultimately parted ways with Simon Jacobsen over design differences and hired another draftsperson to complete the plans for his house, Zander said he still loves Jacobsen Architecture’s “simple, subtle” approach to designing homes that feel “one with the Earth.”

“The whole theme of the house is to have it fairly incognito in the front, but then once you get in, it’s

kind of all ‘one with nature’ in the back, with lots of windows, lots of plantings and landscaping,” Zander said of the Dream House design.

Simon Jacobsen said somewhere around 2,000 of the Dream House 2.0 plan sets have been sold.

“It has (taken off) simply because of its clean linearity, its spaciousness, and the ability for the owners to be able to modify it with great ease and change the composition of the building and move spaces around without losing the context of the design,” he said.

Perfect for entertaining

Zander said his Douglas home is ideal for entertaining 30 or more guests, with its spacious and open layout with a large kitchen and room for multiple seating areas, plus a huge backyard, patio, hot tub

and a bonus garage that could be converted to a guest suite. The yard also has room for a pool to be added.

The kitchen is equipped with Thermador appliances and Ralph Lauren lighting. A large butler’s pantry Zander said was designed to be “a support system for the kitchen” comes with laundry facilities, cabinetry, a pantry, 14 feet of counter space and a second dishwasher.

He added a four-season sun porch that was not part of the original design but that offers additional space for hosting, with eight doors that open onto the patio, as well as a wet bar and fireplace.

The primary suite features a large bedroom, a bathroom with an ample-sized shower and dual sinks, plus a walk-in closet.

Zander said after living in the

home for two years, one of his favorite features turned out to be the plentiful natural light.

“It’s a very bright, airy house. A lot of natural light comes into it, but yet, I don’t have a ton of hot sun that comes in, and I think a lot of it has to do with the dormers,” he said.

Another feature he loves is the backyard landscaping.

“This was an empty lot … . It’s a very mature-looking garden for only being two seasons in,” he said. Kerr, one of the seller’s agents, said the price of $724 per square foot factors in the unusually large lot size — 0.86 acres — for a home in the city of Douglas, combined with comparable sales of other similarly sized homes.

“The architectural design of it obviously stands out,” she said. “There’s nothing like it in (Saugatuck-Douglas).”

This house in Douglas based on plans by a famous architect listed for $2.3 million on Aug. 24. | JEN SmItS, FRESH StARt StUDIOS

The back of the house features many more windows than the front, letting in light and making occupants feel “one with nature.”

| JEN Sm tS, FRESH StARt StUDIOS

One of the two guest rooms has space enough for two queen beds. JEN SmItS, FRESH StARt StUDIOS

Seller Doug Zander and his husband added a four-season porch. JEN SmItS, FRESH StARt StUDIOS

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Vintage guitar retailer opens South Division store

By Abby Poirier

A buyer and seller of vintage guitars and musical equipment aims to cater to musicians and collectors alike with a new retail footprint in downtown Grand Rapids.

Specializing in used vintage and heavy metal guitars, Tone Chasers Music opened a 1,400-square-foot store at 121 S. Division Ave. on Aug. 26. The store carries brands ranging from Gibson, Fender and PRS to signature metal brands like Jackson, Charvel, and B.C. Rich. The store boasts an inventory ranging from $50 pedals to a custom-made 1952 Les Paul guitar priced at $60,000.

Owner Paul Bittner said his

dealers who enabled him to step out on his own.

Over the past five years, he operated Tone Chasers out of his home, selling guitars online through eBay and Reverb, an online marketplace for new, used and vintage musical instruments.

According to Shawn Gargus, Tone Chasers store manager and Bittner’s business partner, the store will continue to sell guitars online. However, the storefront affords musicians a chance to handle and test instruments before committing to a purchase and allows them to hear how the vintage guitars sound.

Stringed instruments make up the largest share (64%) of the $14.2 billion musical instrument market.

doors are open to anyone who wants to sell guitars.

“If it’s cool and it’s good quality, I want it,” he said.

Bittner has been selling vintage guitars full time since 2019 after working for Guitar Center for 16 years, where he spent three years as the retailer’s regional vintage buyer.

He credits the role, in which he attended trade shows and managed acquisitions, for helping him build a network of Michigan guitar

Stringed instruments make up the largest share (64%) of the $14.2 billion musical instrument market, according to a report from Grand View Research, which projected the guitar segment will experience the strongest growth through 2030 based on “the increasing popularity of vintage instruments among consumers.”

While most guitars in production today are machine-made, Bittner said the imperfections and unique details of older guitars often appeal to musicians.

“I believe that the difference is the materials that they were using at the time,” he said. “A lot of it is wood that was 100 years old when they made it 60 years ago, and old wood is something you can’t replicate as of yet. People pay a lot of money for vintage guitars versus a new replica of an old guitar.

“It might be a significant difference in price, but it’s that 10% or 15% extra that might spark inspiration.”

At the same time, many vintage guitar buyers are chasing nostalgia,

or seeking to replicate the sound of their musical heroes.

“That’s what drives the vintage guitar market, as much as anything,” Bittner said. “People want to play what their rock star heroes did.”

Bittner noted that the store’s South Division location was strategic, as it’s within walking distance of notable downtown music venues like GLC Live at 20 Monroe, The Intersection, Pyramid Scheme and Van Andel Arena.

guitars, I want to help them.”

While the location was a good fit for its proximity to local music venues, Gargus noted that the 124-year-old building was “exactly the vibe” for a vintage guitar shop.

The building was formerly home to The Delphin, which had operated a boutique event space and now rents out the second and third floors of the building as an Airbnb.

“We’ve already had people from bands you’d recognize in our store,” he said. “We want to be a comfortable place for those people, but also service the local musicians and (sell) intermediate and high-level guitars that are within reach for local musicians and collectors alike. Anybody who’s into

Tone Chasers will host an official grand opening on Oct. 19. Meanwhile, Bittner will continue to acquire fresh inventory and travel to trade shows and events to keep building up the new physical retail operations.

“We don’t have our nose up in the air to anything,” he said. “If it’s good quality and cool, that’s the cross section that I want in my store.”

Longtime vintage guitar buyer Paul Bittner opened Tone Chasers Music, his first brick-and-mortar store at 121 S. Division Ave. in downtown Grand Rapids. | COURtESY PHOtO

A display of vintage guitars at Tone Chasers Music. | COURtESY PHOtO

Walker approves first phase of townhome project

By Rachel Watson

The city of Walker has approved plans for the first 45 units of a rental townhome community that’s expected to be built in two phases over the next several years.

The Walker Planning Commission on Sept. 4 unanimously approved the final area site plan for phase one of developer Brandon Visser’s 115-unit Highview Townhomes market-rate project that’s planned at 1500 Wilson Ave. NW. The approval allows the developer to line up permits and start site work.

The first of the two phases will have 45 units on about 7.5 acres of the overall 27-acre development site, which is at the northeast corner of Leonard Street NW and Wilson Avenue NW. The second phase, which would need further planning commission approval, is expected to have an additional 70 units.

Visser is a third-generation real estate developer. His grandfather Dale Visser co-founded Visser Brothers Construction in Grand Rapids with brother Bruce Visser. His father, Steve Visser, founded Plainfield Township-based Steve Visser Builder LLC in the 1980s to specialize in residential construction.

Brandon Visser, who joined the family business in 2013, will manage construction of Highview Townhomes through his own firm, Visser Building Group.

Visser told Crain’s Grand Rapids Business that his family has owned the Walker property for nearly two decades and has been working on housing development plans for about 10 years.

“We’ve really tried to find something that is long term and (serves) a long-term need in the area, and not just something that somebody mass produces, just to have another multifamily project,” he said. “This would be more of a community-based, locally owned, locally built project.”

Walker rezoned the Vissers’ property to residential planned unit development (RPUD-2) in fall 2022 as part of a larger commercial PUD that was to include a Kum & Go gas station and a convenience store.

Since then, Maverik acquired Kum & Go and delayed the gas station project. The gas station developer originally planned to handle construction of a private access road and utilities that Highview Townhomes would also share. To move forward more quickly with the housing component, Visser has agreed to take on

those infrastructure projects with financial support from Maverik.

Planning Commissioner Patrick Nolan said during the meeting that he supports the townhomes project.

“I like the project as it is proposed, at this point,” he said. “My only real concern was the Maverik site … and traffic in and around that area and access, too, but it seems like when it comes to fruition, (the developer) will address those concerns.”

Gaines Township-based Architectural Concepts is the architect for Highview Townhomes.

The first phase of the project will have 46 units, one of which will be a showroom/leasing office, spread across nine four- and sixunit buildings.

Ten of the units would be all on one level, and 35 units would be on two levels, with the living areas on the main floor and bedrooms upstairs.

The units all would have two bathrooms and either two or three bedrooms, and range from about 1,200 to 1,400 square feet, Visser said.

Plans also call for attached garages for all the dwellings, with about 60% of them with two stalls. In total, the development would offer 179 parking spaces, includ-

ing guest parking.

Shared amenities at the pet-friendly development include a recreational lawn area and playground. The second phase may include additional amenities such as a bocce ball area.

“(Our focus is on) preserving trees and having something that’s more natural looking,” rather than a lot of built-out amenities,

Visser said. He said rent ranges for the units have not yet been determined, but the townhomes will be market rate.

Visser said he does not yet have an estimate of when construction will start, as it depends on how long it takes to secure permits. But he expects each phase of the project to take one to two years.

Highview Townhomes plans 115 townhome units built over two phases in Walker.

| rACHeL WAtSON

Partnership gives employers on-site clinic option

By Mark Sanchez

A new partnership with HealthBar LLC gives insurer Priority Health a new vehicle to offer companies on-site care for their employees.

Under the partnership, employers who use Priority Health for employee health coverage can contract with HealthBar at discounted rates for on-site clinics and to offer virtual primary care for employees. Medical services bundled into a health plan include primary and preventive care, urgent care, wellness coaching, lab services, occupational health and vaccine clinics.

The partnership comes as employer interest grows in direct contracting for primary care. HealthBar’s services begin Jan. 1 for employers with self-funded Priority Health plans that have more than 100 employees.

In signing the arrangement with Health Bar, the 1.3-million-member Priority Health opted to partner to offer a service to employers that’s intended to make basic care more convenient and accessible and reduces costs.

“Our entire goal is to make health care more affordable, higher quality and create a better experience.

We think this does all of those things,” said Rick Abbott, senior vice president of employer solutions at Grand Rapids-based Priority Health. “Health Bar really meets members where they’re at. They help prevent people having to go to higher-cost settings that might not be appropriate for the care they receive.”

Abbott praised HealthBar as being “pioneers in the market,” noting that adding the new services demonstrates to companies that Priority Health wants “to bring the highest value to our customers.”

The arrangement with HealthBar

is the newest partnership for Priority Health, the second-largest health plan in Michigan.

Priority Health also publicly announced a partnership with San Francisco-based telehealth provider Curai Health in which the insurer will offer unlimited free primary care virtual visits for uninsured people in Michigan through Dec. 31.

The HealthBar agreement “shows that we are really open to partnering with companies that we think add value to the health care ecosystem,” Abbott said.

“It also demonstrates that we’re committed to recognizing that there are some companies that do things really, really well. We want to be able to leverage them and not necessarily have … to offer different services in the market that may be competitive,” he said. “We believe better access to primary care, better access to nurses that HealthBar offers, better access to lowcost, high-quality, affordable primary care, is how we can actually control costs and improve quality.”

About 30 Priority Health clients already use HealthBar for on-site primary care. Through the new

partnership, Abbott expects that to grow by 50% by the end of 2024, and “we have a pretty high trajectory that we believe where these services are already desired by our customers.”

Priority Health also might extend the program to other types of coverage after focusing on self-funded plans at the launch.

“What we’re going to do is after the first year, reflect on how we’ve done from a cost-savings perspective and engagement perspective and a quality perspective,” Abbott said. “If we see value, we absolutely would consider moving this into fully funded (health plans) as well.”

Founded in 2020, HealthBar contracts to provide nurses for school districts across Michigan and works with employers to staff workplace medical clinics using RNs and nurse practitioners.

HealthBar currently works with nearly 40 companies across the state. The companies contract directly with HealthBar for primary and preventive care for about 12,000 employees and their dependents.

The arrangement marks the latest in a string of new partnerships

for HealthBar. The company most recently formed a strategic partnership to refer patients to the new RightCare Clinic in Grand Rapids when they need additional medical services.

Signing a partnership with a large health plan like Priority Health validates the business model behind HealthBar and can lift the company to new heights and significantly raise awareness, founder and CEO Nathan Baar told Crain’s Grand Rapids Business.

Priority Health will promote HealthBar to employers to use and package into their health benefits.

The partnership “feels like a pretty big turning point” for HealthBar, Baar said, who notes that the arrangement could possibly lead to other collaborations in the future.

“Having an organization like Priority Health see that value and desire to take the next step in some collaborative work together really is extremely validating for our solution. It also opens the door to a broader market for us,” he said. “As current health care spending and cost trends go the way they are, there is really inevitability on the insurance carrier side as well that they will be forced to do something

in this space. We see Priority somewhat as a first movement in this market of truly adopting a model like ours.”

HealthBar remains care provider “agnostic” for patient referrals beyond primary care. The partnership includes integrating and analyzing data to gauge how well on-site care works for employers.

Priority Health and HealthBar signed their partnership at a time when employers are increasingly considering direct contracting with primary care providers to better control rising costs for employee health coverage.

Abbott said the interest in direct contracting among employers is “absolutely skyrocketing at the moment.”

“We’re seeing more of a demand for that than we’ve seen at any time,” he said.

A national benefits survey conducted annually by San Francisco-based health policy research firm KFF found that one in five respondents last year that employ between 200 and 999 people already have an on-site employee medical clinic. More than half said they were considering doing it by 2026.

Wyoming OKs plan for $105M battery components plant

By Elizabeth Schanz

The city of Wyoming has signed off on Benteler Automotive’s $105 million plan for a battery components plant at a sprawling former General Motors property along U.S. 131 south of Grand Rapids.

The German automotive supplier plans to create 170 jobs at a 317,000-square-foot facility on 20 acres at the southwestern corner of Site 36, which is gaining redevelopment attraction under new ownership. The addition of the automotive company would be another step in occupying and reactivating the former GM property that has sat vacant since 2009.

The Wyoming City Council approved Benteler’s site plan for 3901 Buchanan St. SW on Sept. 3 after several revisions that were presented to city planning officials in May. Site plan revisions involved changes to the facade, a 50foot expansion to the north for new truck bays that increase the building’s footprint by 20,895

square feet, and new parking and office footprint, according to city documents.

The project calls for a 299,845-square-foot production facility, a 17,120-square-foot single-story office, a new parking area with 174 spaces and the construction of a driveway off 40th Street and Stafford Avenue to access the parking lot.

Once completed, the new Wyoming plant would produce V801 Ford transit van battery components over three shifts, five days a week, according to city planning documents.

A Benteler spokesperson declined to comment, but said in an emailed statement: “In general, the Benteler Group continuously evaluates investment opportunities to strengthen our global business.”

Michael Conzemis, development manager of Minnesota commercial real estate firm Scannell Properties that worked with Benteler on the project, told the city’s

planning commission in May that the firm had been working with Benteler for about five months to secure the Site 36 property.

“Speaking on behalf of Benteler … we’re excited about the opportunity,” Conzemis said in May.

The Wyoming location would be Benteler Automotive’s third facili-

ty in Michigan and the second in Wyoming. The company’s North American headquarters is in Auburn Hills, while Benteler has another facility near Site 36 at 3721 Hagen Drive SE. Benteler has been in the Grand Rapids region since the 1980s, and previously closed a Grand Rapids plant on Hall Street

in 2014 that employed 220 people at the time.

Benteler Automotive is the second development approved for the site owned by Grand Rapidsand Oak Brook, Ill.-based Franklin Partners, which purchased the former GM property from the city of Wyoming for $5.25 million in 2022. GM operated at the site from 1936 until 2009.

In December, Corewell Health purchased 40 acres of the property at 300 36th St. for $6.6 million to build an $80 million service center that will house supply chain offices, a courier fleet and additional shelled space for future use. It remains unclear what will happen to the remaining vacant acres at Site 36 after the Benteler and Corewell projects. MLive reported that a third party is in negotiations with Franklin Partners to potentially buy a third portion of the property.

A Franklin Partners representative declined to comment for this story.

Franklin Partners LLC bought the sprawling Site 36 property in Wyoming for $5.25 million in 2022. | COURtESY PHOtO

The partnership comes as employer interest grows in direct contracting for primary care. | PIXABAY

Nathan Baar and Jeff Skinner of HealthBar. | mARK SANCHEZ

NOTABLE BLACK LEADERS

From law and finance to health care and construction, these Notable Black Leaders are making their mark in West Michigan in a variety of ways. They are problemsolvers, collaborators and community activists who share the common goal of driving West Michigan forward. They advocate within their industry groups and local and state government, and they support their communities through volunteerism, mentorship and education.

Methodology: The honorees featured in this Notable Black Leaders report were nominated by their peers, companies or family members. Crain’s Grand Rapids Business editors selected nominated honorees based on their career accomplishments, track record of success and contributions to their industry and community, as outlined in the detailed eligibility forms. Special Projects Editor Tim Gortsema, tim.gortsema@crain. com, managed this report.

Kevin Battle Member

Miller Johnson

Scope of work: Kevin Battle is a member and vice chair of Miller Johnson’s immigration practice group. His expertise focuses on employment- and business-related immigration matters for corporations, nonprofits and individuals. He has briefed cases for state and federal trial courts, the United States Citizenship & Immigration Service, the Administrative Appeals Office and the Board of Alien Labor Certification Appeals. Biggest professional win: He has successfully secured lawful immigration status for professionals throughout the country.

Other contributions: He participated in the Pathfinders Program of the Leadership Council on Legal Diversity for diverse, high-potential attorneys early in their careers and co-chairs Miller Johnson’s committee on diversity, equity and inclusion.

Dondreá Brown

Founder and CEO

Young Money Finances

Scope of work: Dondreá Brown oversees a 23-person team serving more than 300 individuals annually through its workshops, events and community partnerships designed to end barriers to financial security for youth and families.

Biggest professional win: Young Money Finances provides financial resources to more than 2,000 participants. His success is demonstrated by high engagement rates, positive feedback scores, a 95% completion rate and 85% of participants reporting improved financial habits.

Other contributions: Brown donates his time and skills to WKKF Community Leadership Network, Heart of West Michigan United Way, Project Green, Camp Blodgett, Better Wiser Stronger, Ronald McDonald House and Kids’ Food Basket.

James Byl

Founder and Owner

Multi-Automatic Tool & Supply Co.

Scope of work: James Byl is founder and sole owner of Multi-Automatic Tool & Supply, a specialty tooling distribution company in Grand Rapids. He started the company in 1996 and now provides tooling to the automotive and heavy equipment industries, as well as clients in France, China and Brazil.

Biggest professional win: Byl’s acquisition of machine shop Belding Tool & Machine in 2019 turned Multi-Automatic from strictly a distribution company into one that also manufactures products. This led the 20-person outfit to provide machined components to the U.S. Department of Defense.

Other contributions: He is board chair of the Grand Rapids Area Chamber of Commerce and previously served with Grand Rapids Center for Community Transformation and SpringGR.

Renida Clark Director of Workforce Development

West Michigan Center for Arts + Technology

Scope of work: Renida Clark joined the West Michigan Center for Arts + Technology (WMCAT) in January 2021 and now serves as director of workforce development leading three staff members and two programs: WMCAT’s Adult Career Training Program, a tuition-free opportunity for Kent County adults experiencing under- and unemployment; and Step Year, WMCAT’s college and career exploration program for adults 18-24.

Biggest professional win: WMCAT successfully launched a cybersecurity pathway as part of its adult programming and expanded enrollment from 12 students to up to 30 students in 2023.

Other contributions: She is a board member for Girls on the Run West Michigan.

DUSTIN JACKSON KEVIN BATTLE &

Michelle Covington

Vice President of Advancement

ICCF Community Homes

Scope of work: Michelle Covington oversees fundraising, volunteerism, marketing and communications with a team of eight individuals. The team raises more than $3 million annually from various funding sources and has increased philanthropic revenue by more than 50%.

Biggest professional win: In 2021, she managed and implemented a rebrand of the Inner City Christian Federation to ICCF Community Homes using focus groups and surveys to gather input from donors and stakeholders.

Other contributions: She is on the boards at Knapp Charter School and Association of Fundraising Professionals West Michigan chapter, and the Patient and Family Advisory Council with Trinity Health.

Carlos Cubia Executive Vice President Corewell Health

Scope of work: Carlos Cubia’s passion for creating a culture in which DEI and health equity are at the forefront of every decision has permeated the entire organization. He oversees a team of more than 300 with a budget of $31 million.

Biggest professional win: Under his leadership, Corewell Health created and implemented diversity tracking goals throughout the organization, including diverse slates and panels for interviews and diverse vendor spending, resulting in $54 million being spent with minorityowned businesses.

Other contributions: His community involvement includes Executive Leadership Council for Black Executives, National Chief Diversity Officers Summit, American Heart Association and Inforum.

Michael Davenport President

and CEO

Jireh Metal Products

Scope of work: Michael Davenport has successfully navigated challenges such as supply chain disruptions, a global pandemic, talent shortages, shifting consumer preferences, plant consolidations and expanding capabilities.

Biggest professional win: One of Davenport’s biggest career achievements is forging a partnership with Mel Trotter Ministries. The collaboration brings desperately needed jobs to people in the 49507 ZIP code. Other contributions: Davenport serves on the boards of The Right Place Inc., Mercantile Bank, Grand Rapids Area Chamber of Commerce, Michigan

Manufacturing Technology Center, Aerospace Industry Association of Michigan Foundation, Xavier University President’s Advisory Council and Athletic Leadership Advisory Council.

BUILDING WEST MICHIGAN

since 1962.

With over 60 years of general contracting experience, Erhardt Construction has built the structures that define West Michigan. We are dedicated to exceeding your expectations. Trust our legacy of excellence to create spaces that inspire and withstand the test of time.

Anedra Eatman

Vice President of People Operations

Nexben

Scope of work: Anedra Eatman plans, directs, coordinates and oversees operations related to people activities at Nexben, a health benefits solutions provider. The department’s long-term strategy is to create and maintain a best-in-class employee experience in a diverse and inclusive culture where all associates can thrive.

Biggest professional win: She lists her biggest accomplishment as being promoted to vice president of human resources in 2020.

Other contributions: She is immediate past chair for Mel Trotter Ministries, having finished her term in March, and is board president of the Human Resources Group of West Michigan.

Tenisa Frye CEO

Family Promise of West Michigan

Scope of work: Tenisa Frye has been CEO of Family Promise for a year but has held several board leadership positions at the organization. She is responsible for the management of a $7.6 million budget and a diverse staff of 61 employees, as well as volunteers and interns.

Biggest professional win: She lists her biggest career win as working for a company that saw her talents and skills, which allowed her to quickly excel in her career while building lifelong partnerships that eventually led to her “dream role” at Family Promise.

Other contributions: Her community involvement includes work with Michigan Victory Games, Our Savior Lutheran School, West Michigan Aviation Academy, East Kentwood Freshman Campus and Grand Valley State University.

Ferris State University is proud to congratulate President Bill Pink for being recognized as a Notable Black Leader.

Ferris State is a unique place that brings people together from all walks of life in the pursuit of an exceptional education for all.

Arlen-Dean Gaddy

Vice President

Erhardt Construction

Scope of work: Arlen-Dean Gaddy’s responsibilities include marketing, launching the Red Jasper Crafted Homes division and serving as the point person for Erhardt’s revenue goals.

Biggest professional win: One of Gaddy’s biggest career wins was helping to establish Earhardt Construction on West Michigan’s lakeshore with projects including Muskegon County Courthouse, Hope College Boerigter Center, Muskegon Surgical Center, Muskegon Museum of Art and the Frauenthal Theater renovation.

Other contributions: Gaddy is board chair of the Ferris State University Foundation, president of Kappa Alpha Psi’s local chapter, Jim Crow Museum capital campaign co-chair, and board member with Broadway Grand Rapids.

Ed Garner

Regional Director West Michigan

Michigan Small Business Development Center

Scope of work: Ed Garner has been Michigan SBDC’s West Michigan Region director since 2017, increasing client activity by 47%. In 2023, his team recorded $16.3 million in capital formation, 4,031 jobs supported, 1,012 distinct clients served, 152 jobs created and 58 new business starts, supporting 488 womenowned and 360 BIPOC-owned small businesses.

Biggest professional win: In 2020, Garner’s West Michigan region was awarded the Excellence and Innovation Award by the Michigan District Office of the U.S. Small Business Administration.

Other contributions: He is board chair for the Kent-OttawaMuskegon Foreign Trade Zone and a board trustee for the Community Foundation for Muskegon County.

Laura Hopson

President and CEO

EM Services

Scope of work: Since 2018, Laura Hopson has been president and CEO of EM Services, a supply chain company with $26 million in spend under management. The company’s team of seven people works with clients nationwide in manufacturing, construction, and other industries to reduce the cost and complexity of their indirect supply chains.

Biggest professional win: In 2022, EM Services won the Grand Rapids Chamber of Commerce Woman Owned Business of the Year award, which Hopson said positions the firm to champion supplier diversity. Other contributions: Hopson serves on the boards of Construction Allies in Action and University of Michigan HealthWest, and is chair of the chamber’s Mosaic Business Collective.

Dustin Jackson

Member

Miller Johnson

Scope of work: Dustin Jackson is a member of Miller Johnson’s corporate and M&A practice group and focuses on mergers and acquisitions, commercial transactions, and comprehensive corporate advisory for domestic and international clients.

Biggest professional win: Over the past five years, Jackson has played an integral role in a large number of transactions that have contributed to the growth and expansion of businesses in Michigan. His strategic involvement generated employment opportunities for thousands of individuals across various industries.

Other contributions: Jackson is past president and a board member of Association for Corporate Growth West Michigan. He also was accepted into the Leadership Council on Legal Diversity Fellows Program in 2018.

LaKiya ThompsonJenkins

Executive Director

LINC Up Nonprofit Housing Corporation

Scope of work: LaKiya Thompson-Jenkins oversees more than $12 million in projects, program grants and sponsorships. Under her leadership, the organization has developed and trained more than 1,000 residents in racial equity, systems thinking, advocacy and empowerment strategies.

Biggest professional win: Her community standing has helped LINC UP provide affordable housing for more than 300 families in Kent County and invest more than $2 million.

Other contributions: She has served on the leadership team of the Greater Grand Rapids Racial Equity Network, as co-chair of the Southtown Corridor Improvement District, and as co-chair of the city’s participatory budget process.

Carlos Cubia Chief Inclusion, Equity, Diversity and Sustainability Officer

Kelsey Perdue Director Community Programs

Candace Smith-King, M.D. Vice President, Academic Affairs Designated Institutional Official

Together We Can:

corewellhealth.org on being named a 2024 Crain’s Grand Rapids Business Notable Black Leader

Make an impact in the lives of people we serve.

Improve Health. Instill Humanity. Inspire Hope. Build stronger, healthier communities.

TaRita Johnson

Senior VP of Automation and Diversity

The Right Place Inc.

Scope of work: TaRita Johnson facilitates a series of multicompany and customized company talent learning labs focused on cultural competence, diversity, equity and inclusion, emotional intelligence, personality and leadership, sourcing and recruiting talent, employer branding and employee retention. Biggest professional win: She is actively recruited to be part of multiple boards and events, to increase exposure to the tech industry.

Other contributions: Johnson is a founding member of Rockstar Woman and serves on committees and boards for the West Michigan Works!, STEM Greenhouse, Michigan Colleges Alliance, The Source, West Michigan Tech Talent Council, Global Detroit, Truth’s Table Foundation and Hello West Michigan.

Tracy Joshua Vice President, External Supply Chain

Kellanova

Scope of work: Tracy Joshua, Ph.D., in 2023 was appointed vice president of North America external supply chain, where she is responsible for roughly 40 external partners who produce, pack and promote Kellanova products, including roles in procurement, engineering, quality, finance/budget/P&L, IT, continuous improvement, HR and operations.

Biggest professional win: She led positive organizational change, turnaround strategies and transformation during the recent unprecedented supply chain challenges and has created an inclusive culture.

Other contributions: Joshua serves on the Kellogg 25 Year Fund, Michigan Minority Supplier Development Council, Hot Bread Kitchen and Nothing But Education boards.

James Liggins Jr.

Senior Counsel

Warner Norcross + Judd

Scope of work: James Liggins Jr. is a litigator who manages a practice that includes commercial litigation, construction litigation, property disputes and criminal defense.

Biggest professional win: One of Liggins’ biggest career wins involved a complex case where he navigated both civil and criminal law for a client facing a wrongful denial of insurance coverage after a fire in his home while also being charged with arson. Liggins earned an acquittal and recovery of his client’s insurance claim.

Other accomplishments: Liggins is a member of the State Board of Ethics and serves on the boards of Western Michigan University, Southwest Michigan First, Bronson Hospital and Kalamazoo Institute of Arts. He sits on the state bar’s Judicial Qualifications Committee.

Latesha Lipscomb

Director of Engagement and Relationships

Amplify GR

Scope of work: Latesha Lipscomb, J.D., is director of engagement and relationships at Amplify GR, where she facilitates the work of the Neighborhood Advisory Committee and all of the neighbor work groups with an annual budget of approximately $300,000.

Biggest professional win: She helped complete the Heartside Quality of Life Study for the city of Grand Rapids and the Voluntary Equitable Development Community Partnership for the Boston Square neighbors.

Other contributions: This year, Lipscomb earned the Floyd Skinner GIANT Award for championing justice. She is on the boards of HealthNet of West Michigan, Downtown Grand Rapids Inc.’s Citizens Alliance and Heartside Downtown Neighborhood Association.

Sterling Massey

Southwest Michigan Territory Field Leader

State Farm Insurance

Scope of work: Sterling Massey recruits, develops and supports State Farm Insurance owner/ agents in Southwest Michigan after owning and running his own agency in Kentwood for 14 years. Biggest professional win: His 2022 promotion to Territory Field Leader allows him to mentor and support 49 agency owners to better understand the importance of insurance and financial planning.

Other contributions: Massey serves on the Grand Rapids Chamber’s Minority CEO Round Table and is on the boards of Oakdale Neighbors, Multitude Ministries and Lakeshore Excellence Foundation. He also works with the Wyoming/ Kentwood Chamber, Phi Beta Sigma Michigan, SpringGR, Grand Rapids Symphony and Flat River Outreach Ministries.

Potts Ready Mix Operations Manager

Joe Matthews

Vice President of Diversity, Equity and Inclusion

Gentex Corporation

Scope of work: In 2018, along with his vice president of purchasing role, Joe Matthews took on the responsibility of developing and implementing Gentex’s diversity, equity and inclusion initiatives. He stepped into the newly created role of vice president of DEI at the start of 2022 and facilitates the 10-person DEI Advisory Board of C-Suite leaders, as well as the 16-member DEI Council.

Biggest professional win: His biggest accomplishment was creating the ideology for DEI at Gentex that was 100% endorsed by all direct reports of the CEO. Other contributions: He serves on the boards of Lighthouse Immigrant Advocates and Momentum Center, and also is a community board member for Zeeland Corewell Health.

Keith Morgan President

Kelsey Perdue

and CEO

South Kent Chamber

Scope of work: As president and CEO of the South Kent Chamber of Commerce, Keith Morgan is dedicated to fostering collaboration among businesses, municipalities and community organizations. He leads a team of four staff members, overseeing strategic planning, resource allocation and partnership development.

Biggest professional win: Under Morgan’s leadership, the chamber successfully rebranded from the Wyoming Kentwood Chamber to the South Kent Chamber.

Other contributions: Morgan lends his time and talents to the Michigan Chamber of Commerce, Michigan Economic Development Association, Michigan Association of Chamber Professionals, Kentwood/ Wyoming DDA and SpringGR.

Director of Community Programs and Innovation Corewell Health

Scope of work: Within Corewell Health Healthier Communities, Kelsey Perdue’s team comprises 26 people with five program areas, including two cross-sector community transformation projects. Her work ranges from community health programs that generate greater health equity to leading two projects that foster relationship building and repair within the community.

Biggest professional win: Within her first three months at Corewell Health, she initiated the development of a departmentwide equitable evaluation strategy, expanded the reach of prevention programs and began in-system strategic alignment.

Other contributions: Perdue is a Grand Rapids city commissioner for the Third Ward, where she sets an annual balanced budget of $690 million.

CONGRATULATIONS TO Tracy Joshua

Vice President, External Supply Chain

Kellanova is proud to celebrate you for being recognized by Crain’s Grand Rapids as a Notable Black Leader.

Bill Pink President

Ferris State University

Scope of work: Bill Pink, Ph.D., became Ferris State’s 19th president in 2022 and is the first African American person to lead the university since it was founded in 1884. Pink previously served as president of Grand Rapids Community College. Ferris offers 250 programs with certificates and degrees across seven academic colleges.

Biggest professional win: Pink is proud of developing GRCC’s campus on the lakeshore. “Many people saw a shuttered department store in a struggling mall. I saw an opportunity.”

Other contributions: Gov. Gretchen Whitmer appointed him to co-chair the Growing Michigan Together Council higher education workgroup. Locally, he serves on the boards of Corewell Health West Michigan, Heart of West Michigan United Way (chair) and The Right Place Inc. (vice chair).

Your leadership and dedication are a great example of our Culture of Best. Thank you for your commitment to excellence and for making a lasting impact at Kellanova and in our community.

Marvin Potts Jr. Operations Manager

Consumers Concrete Corp.

Scope of work: As the operations manager for the Ready Mix Division, Marvin Potts Jr. is responsible for 143 of the company’s 243 employees, as well as oversight of the company’s Ready Mix facilities. He also supervises the Technical Services Department.

Biggest professional win: He established Consumers Concrete’s CDL training program to address the driver shortage by training individuals to obtain their Commercial Driver’s License, strengthening the company’s workforce and creating pathways to meaningful careers for employees.

Other contributions: He is vice president of ACI West Michigan and sits on several committees of the National Ready Mixed Concrete Association.

Rodney Savage

Vice President of Talent and Inclusion

Grand Rapids Area Chamber of Commerce

Scope of work: Rodney Savage is responsible for providing strategic direction and oversight of the Grand Rapids Chamber’s talent and inclusion services to the regional business community. He is a member of the chamber’s executive leadership team.

Biggest professional win: He designs strategic plans, operational plans, diversity programs, processes, and metrics to drive DEI in support of the chamber’s organizational mission, vision and community engagement strategy. He also implements corporate DEI action plans.

Other contributions: He serves on the Kids’ Food Basket executive board and has worked with Mission for Area People, Rotary Club of Muskegon and Baker College.

Dr. Candace Smith-King

Vice President

Corewell Health

Scope of work: As vice president of academic affairs and designated institutional official at Corewell Health in West Michigan, Candace Smith-King manages a budget of more than $48 million and provides leadership to the Office of Medical Education. She oversees the accreditation and educational environment for 37 fellowship and residency programs, along with physician leadership and graduate medical education administrative and faculty development teams. Biggest professional win: Successfully growing and integrating Corewell Health’s residency and fellowship programs.

Other contributions: Smith-King created the Minority Visiting Scholars Program for medical students and the Health Equity and Leadership Scholars program for resident physicians.

Misti Stanton

Vice President

Mercantile Bank

Scope of work: With a career spanning more than 35 years in community and nonprofit work, Misti Stanton currently holds the position of vice president and diversity, equity and inclusion officer at Mercantile Bank, where she dedicates her efforts to fostering an inclusive work environment.

Biggest professional win: Stanton developed Mercantile’s successful summer internship program for college students that teaches teamwork, customer service, multi-tasking, punctuality and time management skills. Other contributions: She is board president of the Grand Rapids Public Schools Foundation and also serves on the boards of University of Michigan Health-West, Grand Rapids African American Health Institute and West Michigan Sustainable Business Forum.

CONGRATULATIONS ANEDRA EATMAN

Julian Vasquez Heilig

Provost and Vice President

Western Michigan University

Scope of work: Julian Vasquez

Heilig’s expertise in executive leadership is anchored in his experience across seven progressively more challenging academic leadership roles. He has served as provost and vice president of Western Michigan University since 2023, marking a significant milestone as the first African American in this role.

Biggest professional win: His biggest career win has been his leadership in improving recruitment, retention and graduation rates with notable success for underrepresented minority students.

Other contributions: Vasquez Heilig is on the board of the Schott Foundation for Public Education and has worked with the NAACP in Kentucky and California, University Council for Educational Administration and Education Deans for Justice and Equity.

Zachary Verhulst

Founder and CEO

Pure Architects

Scope of work: As principal in charge, Zachary Verhulst is responsible for the health and well-being of the firm and its 27 people in offices in Grand Rapids and Detroit. He leads regional strategic initiatives and guides the firm’s growth.

Biggest professional win: In addition to being named the state’s Minority Owned Business of the Year, Pure Architects is working on Mary Free Bed Rehabilitation Hospital’s $60 million pediatric hospital and the $118 million “reimagining” of East Grand Rapids High School. Other contributions: Verhulst serves on the boards of the Grand Rapids Area Chamber of Commerce, Economic Club of Grand Rapids and Westside Corridor Improvement Authority, and the American Institute of Architects National Task Force on Framework for Design Excellence.

Proactively planning for a sustainable energy future in Michigan

CHARLES MARSHALL

Vice President of Transmission Planning

ITC Holdings Corp.

Charles Marshall is vice president of Transmission Planning for ITC Holdings Corp. In this role, he is responsible for identifying all transmission system needs and developing system solutions to ensure the reliable and economic delivery of electricity to customers across ITC’s four operating subsidiaries.

Marshall previously served as director of transmission planning, responsible for ITC’s annual planning assessment to ensure compliance with North American Electric Reliability Corp. (NERC) criteria and facilitating customer interconnections to the transmission system.

Marshall joined ITC as an associate engineer in 2004. His experiences range from regulatory policy and stakeholder relations to project engineering and business unit planning. Marshall was appointed to the Michigan Infrastructure Council in 2024 for a three-year term. The Council’s mission is to de ne a vision for Michigan’s infrastructure that provides the foundation for public and environmental health, economic prosperity and quality of life. Marshall is a member of the Midwest Reliability Organization (MRO). He earned a Bachelor of Science in electrical engineering from Michigan Technological University and a Master of Business Administration from the University of MichiganFlint.

Economic growth requires a reliable energy system that can provide power when and where it’s needed. Transmission is a vital part of this system that literally keeps the electricity owing. But to meet evolving energy needs, Michigan’s transmission system needs more than just maintenance; it also demands strategic expansion and proactive upgrades to unlock a cleaner energy future.

For insight into the complexities of transmission planning and how it impacts Michigan’s future growth, Crain’s Content Studio recently spoke with Charles Marshall, vice president of transmission planning at ITC Holdings Corp.

What is ITC’S role in Michigan’s energy system?

MARSHALL: ITC is part of the three-part system that keeps the lights on, which includes energy generation, transmission and distribution. ITC owns and operates portions of the transmission grid in Michigan and six other states, which is the component that allows us to enjoy our highly reliable energy systems. Our system in Michigan performs among the best in the country.

Since ITC acquired these systems roughly 20 years ago, we’ve been making prudent investments, and we’ve realized measurable improvements in the reliability of our systems. However, as you look at the industry trends in front of us, particularly as we talk about clean energy transition, it’s incumbent upon ITC to continue to make investments that keep pace with the demands placed upon the grid.

What is ITC’s horizon for planning the future needs of the grid?

MARSHALL: We have done a good job maintaining a system that’s designed to meet the needs placed upon the grid today. But those needs are rapidly changing, so we need to make decisions that will position us to be successful in the future.

Often, as an industry, we react on a real-time basis. We have load interconnections and generator interconnections that are priorities, so we do what we can to process those as expeditiously as possible.

The next planning horizon is a ve-year assessment, which

ensures we’re adhering to reliability standards. Beyond that is the long-term planning horizon, which provides us an opportunity to be proactive as opposed to reactive. It takes ve to 10 years to build the transmission infrastructure, so we need to anticipate energy needs 10 to 20 years down the road so we can start building the infrastructure we’re going to need in the future.

Why is proactive transmission planning so critical to Michigan’s energy future?

MARSHALL: When you have a proactive, forward-looking planning mindset, you have the ability to right-size the infrastructure. Then, as customers demand to interconnect, that capacity is there so they’re not waiting ve or 10 years for it to be built.

Transmission ensures reliability. As our industry evolves, the needs and demands placed upon the grid change, so it needs to behave differently. As we build a future that’s more dependent upon renewable resources, we need a broader, more robust transmission system. We need greater access to regional or wholesale markets — the ability to import power from neighboring states and regions on a real-time basis. When you build the right transmission infrastructure that provides access to those neighboring markets, it ensures reliable energy to customers.

What projects are underway to ensure that power is reliably delivered across state lines?

MARSHALL: There is a multistate planning process underway called Long Range Transmission Planning (LRTP). The rst portfolio of projects, referred to as Tranche 1, was approved in July 2022. These 345,000 volt projects span from the Dakotas to Michigan. This entire portfolio of Tranche 1 projects is about $10 billion, and the investment in Michigan is $850 million.

Here in Michigan, there’s about 95 miles of 345 kV projects from Lansing down to the Northern Indiana border. That’s going to be the rst interstate transmission we’ve built in 50 years, which is signi cant.

Now, LRTP Tranche 2.1 is in the works, with a targeted approval date of December 2024. Many of those projects are at a higher voltage — 765 kV — so that’s

exciting. As you build a higher voltage infrastructure, the bene ts associated with that infrastructure accrue as well.

Why do we need to update the electric transmission infrastructure? Even if we weren’t shifting to renewable energy generation, would this still be an urgent need?

MARSHALL: The energy grid sustains our quality of life. It truly is the framework that society is built upon — but society is changing, and as a consequence, that framework needs to change. We’ve got signi cant load growth coming from increased electri cation, economic development, onshoring of manufacturing, and data centers to support AI. We need to ensure that we’re building the right infrastructure to support this growth, in addition to supporting the aforementioned generator interconnections for wind and solar. We’re at this in ection point where there are multiple external in uences forcing us to think differently about the transmission system.

What is ITC’s vision for Michigan’s energy future?

MARSHALL: To have a robust, reliable, high-voltage electric transmission system that drives value to customers and provides access to competitive wholesale markets.

As our utilities are actively investing in wind and solar, we want to ensure we have the infrastructure available to support them so they can deliver value to their distribution customers.

Clearly at the center of all we do, there’s a focus on the infrastructure, but it’s not just the infrastructure. There’s also a focus on the customer and ensuring that we’re delivering an affordable solution. Since our inception in 2003, ITC has invested $7 billion in the transmission system. But, with all of the investment that we’ve made, our impact on the customer’s bill continues to be less than 4%, so that’s a lot of value delivered with minimal cost impact to the customer.

To learn more about ITC, visit itcholdings.com/itc-michigan/

CRAIN’S DINING AND ENTERTAINMENT SPOTLIGHT

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GLC Live at 20 Monroe is a fan favorite venue in West Michigan. Our guests enjoy our friendly staff, clean environment and unmatched sound quality. We can elevate your experience with our premium seating options which come with a fast pass to skip the line, private lounge access, in- seat service and of course, the best seats in the house.

REDWATER EVENTS

5500 Cascade Rd. SE Grand Rapids, MI 49546

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RedWater Events features nine stunning venues across West Michigan, perfect for weddings, holiday parties, business events, and social occasions of all sizes. Revel in beautiful event spaces with picturesque views. Indulge in delectable food and beverage catering, accompanied by unparalleled service from a dedicated team of professionals. From intimate affairs to grand celebrations, RedWater specializes in creating unforgettable experiences tailored to your needs.

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MEIJER GARDENS & SCULPTURE PARK

1000 East Beltline Ave. NE Grand Rapids, MI 49525

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During your visit to Meijer Gardens, enjoy a meal at the James & Shirley Balk Café, with its dazzling glass ceiling sculpture Lena’s Garden by Dale Chihuly. The globally inspired and locally sourced menu changes with the seasons and features sandwiches, salads, small bites and a kid’s menu. Experience a variety of beverages and a selection of wines and Michigan craft beers.

MICHIGAN MARITIME MUSEUM

260 Dyckman Ave. South Haven, MI 49090

269-637-8078

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The Michigan Maritime Museum is your premier yearround waterfront entertainment, education and event destination in West Michigan. Be it a sailing cruise, museum tour or group gathering, your experience is sure to be first-class. The museum campus boasts multiple waterfront indoor and outdoor spaces giving you the opportunity to select the perfect venue for groups from 5 to 500 attendees.

REDWATER RESTAURANTS

5500 Cascade Rd. SE Grand Rapids, MI 49546

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Elevate your taste at RedWater Restaurants! With nine unique concepts from Grand Rapids to the Lakeshore, RedWater prides itself on exquisite ingredients and exceptional service. Enjoy sophisticated yet approachable meals in contemporary settings, paired with some of the best views in West Michigan. Lunch, dinner, or a special occasion, RedWater provides every guest with an unforgettable dining experience.

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Stephanie Parshall Photography, LLC

WEALTH MANAGEMENT 2024

Cultivating portfolio growth and legacy

Charitable giving. Business succession. Impending tax law changes. Growing wealth with intention. Cultivating a meaningful legacy requires a systematic and individualized approach. This year’s Grand Rapid’s Wealth Management section, produced by Crain’s Content Studio, features timely tips and valuable strategies from a multidisciplinary approach to planning. The information and resources aim to help you build your nest egg and shape a legacy that will endure for generations.

CONTENTS:

Why target date strategies miss the mark | S2

Holistic financial planning for a prosperous retirement | S4

What makes a successful business | S6

Wealth on your level | S8

Why a power of attorney should be part of your estate planning toolbox | S9

Why target date strategies miss the mark

How a one-size-fits-all approach could harm your retirement

By Steve Doorn, CFA

The saying “if it seems too good to be true, it probably is” could easily apply to target date strategies. Take something that’s extremely complicated (retirement planning) and develop a simple and easy-to-use solution (target date strategies) that is suitable for everyone (default option in most 401k plans). Who wouldn’t want that? Unfortunately for most Americans, that’s not the right approach. Their retirement savings investment strategy shouldn’t be reduced to making a single decision such as picking the year in which you think you’ll retire. Simple, yes. Effective, not so much.

The concept of the target date strategies makes sense to many investors, especially those who are just starting to save for retirement. With so many investment options to choose from in a typical company-sponsored plan, it can be overwhelming to know which ones are right for you. The target date strategy offers a single choice that is diversified and automatically manages the mix of investments over time. Aggressive for younger investors just starting out and becoming more conservative for those closer to retirement age. But is that the best solution?

According to Morningstar, $3.5 trillion was invested in target date

strategies at the end of 2023. This is a $2.6 trillion increase in the past 10 years. Much of this growth can be traced back to the Pension Protection Act of 2006 which contained provisions that allowed employers to automatically enroll their employees in the company-sponsored retirement plan.

Under ERISA guidelines, target date strategies are considered qualified default investment alternatives. When an employee is automatically enrolled but doesn’t make an investment election, the default is likely a target

time horizon. Second, the investment options within each target date strategy are limited. Third, their asset allocation changes aren’t dynamic based on changing market and economic conditions.

While the investment time horizon is important, it’s only one factor that should be considered when developing an investment strategy. Other things to consider are liquidity needs, risk tolerance, other assets and investments, longevity, and taxation. Accurately choosing a retirement date when you’re in your mid-20s, and

A successful retirement doesn’t happen by chance, but rather through careful planning.

date strategy. Vanguard, which manages the largest amount of target date strategy assets ($1.3T), estimates that 83% of participants in the plans it manages have invested in a target date strategy.

So why should you consider an alternative approach? Target date strategies have three main faults. First, they only consider one factor: the

Most retirement plan sponsors have a fiduciary responsibility to the plan participants which requires them to offer a broad array of high-quality, low-cost investment options. Target date strategies on the other hand often have investment options that are limited, both in terms of investment choices and manager. For example, the Vanguard Target Retirement 2035 Fund is limited to investments in five of Vanguard’s mutual funds.

Company-sponsored plans often have investments across several asset classes, from stocks and bonds to commodities and real estate. Targetdate strategy portfolios are often comprised of just stocks and bonds. Most plans also offer both passive and active investment options, often from a variety of high-quality asset managers which allow the employee to create a portfolio that’s unique to their situation. The ability to customize the portfolio allows the participant to incorporate several other important factors into their decision-making.

One of the main attractions of target date strategies is the automatic shift from an aggressive investment approach to one that’s more conservative over time. Each target date strategy has a “glide path” that adjusts the asset allocation of the portfolio based on the number of years to retirement. The typical target date strategy begins to gradually reduce the equity allocation around 30 years before retirement with the pace accelerating around 15 years prior and continuing up until retirement. Ultimately the stock allocation drops from 90%+ in the early years to around 35% at retirement. With people living longer, longevity risk is a real concern. By only considering the time horizon when determining the asset allocation, target date strategies fail to adjust to changing market conditions.

risk tolerance and similar personal circumstances. The truth is that everyone’s situation approaching and during retirement is different. Doesn’t it make more sense to invest accordingly?

A successful retirement doesn’t happen by chance, but rather through careful planning. This requires developing and adhering to an investment strategy that is as unique as you are. Using a cookiecutter approach, such as target date strategies, that are based largely on ease of implementation and ongoing management, can be fraught with mistakes. Unfortunately, the problems are usually only recognized long after there is anything that can be done to correct them. Working with an experienced team of investment, financial planning, tax and estate professionals who can help design a customized wealth strategy will not only reduce the stress of retirement savings but also increase the odds that your retirement will be on target.

Legacy Trust is an independent, locally owned, Michigan-chartered bank that specializes in providing investment and wealth management services to individuals, families, foundations and non-profits in West Michigan. Legacy Trust delivers highly customized financial and investment solutions tailored to meet the unique situation of each client. For more information, visit www.legacygr.com.

first starting to save for retirement, is almost impossible. What if you end up working longer or shorter than you originally expected? What if you receive an inheritance in the future? How long is your retirement going to last? What happens if you switch jobs? The target date strategy may end up being too aggressive or too conservative, significantly altering the quality of your retirement.

While we would never advocate for investors to try to time the market by making short-term changes to their investment allocation, we do recognize that there are times when making tactical adjustments can result in better outcomes. An investor who reduces their stock allocation during or after a bear market is likely selling low (stocks) and buying high (bonds). Conversely, continuing to increase one’s stock allocation after several years of appreciation may result in a portfolio with too much risk. Having a well-defined strategy based on one’s unique situation can avoid both of these pitfalls.

Investing in target date strategies also assumes everyone who has plans to retire in or near the year specified has the same investment objectives,

Steve Doorn is the Chief Investment Officer at Legacy Trust. Contact him at 616-454-2852 or sdoorn@legacygr.com.

A wealth management firm and trust bank - held to the highest standards.

Holistic financial planning for a prosperous retirement

Mattson Financial Services leads the way

“Money may drive financial decisions, but money is just a tool,” said Gary Mattson, Founder of Mattson Financial Services. With a mission rooted in holistic, fiduciary values, Mattson Financial Services is dedicated to guiding individuals, families and small businesses to and through retirement. With over 40 years of experience beginning with his service in the U.S. Air Force, Gary has cultivated a practice that focuses on retirement, health and wealth.

According to Gary, “Retirement starts with dreams, goals and desires.” At Mattson Financial Services, understanding each client’s aspirations is paramount. The firm prides itself on crafting personalized financial plans that resonate with clients’ unique needs and desires. The services offered include income planning, wealth management, tax strategies, investment guidance, legacy planning and insurance options, each designed to support the client’s retirement vision and help them create the legacy they wish to leave behind.

Gary emphasized that managing a nest egg involves much more than just investing money. A holistic perspective is essential in retirement planning, which encompasses

a comprehensive approach to developing strategies involving incomes, investments and financial products tailored to the client’s lifestyle.

Gary and his team categorize retirement into three critical phases: the “Go Go,” “Slow Go” and “No Go” stages.

1. Go Go Phase: This initial stage is characterized by retirees eager to explore new hobbies, travel and fully embrace their freedom. This enthusiasm can often lead to elevated expenses as individuals capitalize on their retirement time.

2. Slow Go Phase: Here, retirees become more selective about their spending. While still enjoying their freedom, they start to exhibit some restraint, allowing for a shift in their spending patterns.

3. No Go Phase: The final phase emphasizes efficient wealth care, focusing on the prudent management of assets to ensure financial security during later years. This phase involves making sure that arrangements are in place to sustain a comfortable lifestyle, aligning financial resources to meet health and living costs effectively.

Together, they foster a collaborative atmosphere where clients receive the care and guidance they deserve. Throughout the week, the Mattson Financial Services family engages with the community via various media platforms, including WOOD TV8, FOX17 and WZZM13. Their “Money Mentors” radio program on WOOD Radio further enables the Mattson Financial Services team to offer insights and support to a wider audience. Additionally, Laurel’s husband, Taylor Steward, serves as an advisor, contributing his expertise to the “Money Mentors” show. The team of twenty is rounded out by additional married spouses and family members as well.

Business owners represent a substantial portion of Mattson Financial Services’ client base. With his youthful experience selling his first business at merely 17 years old, Gary is acutely aware of the importance of exit strategies. He warns that careful planning, especially concerning the tax implications of selling a business, can significantly influence financial outcomes. Thoughtful preparation can lead to substantial tax savings that enhance both the seller’s and the buyer’s financial prospects.

who specializes in Medicare and Marketplace insurance solutions, 401k Management and connecting clients with estate planning providers. They prioritize minimizing the risks posed by inflation and exploring tax-efficient solutions for passing on assets to heirs who are prepared to handle such wealth responsibly.

Gary, while transitioning the helm of the business to his daughter, Laurel, remains actively involved in advisory, marketing and training roles, ensuring that his extensive knowledge continues to benefit clients. “I always wondered if my children would want to follow in my footsteps, but it’s never a given,” he reflected.

Laurel has not only embraced the family legacy; she has also innovated within it, ensuring that Mattson Financial Services continues adapting to clients’ needs and maintaining its client-centered approach. “We are all about family,” she stated, having a unique understanding of clients’ experiences with their families, which motivates the firm’s dedication to helping individuals achieve the goal of maintaining family harmony across generations.

“Retirement isn’t about how much money you have; it’s about how much income flow you have,” Gary said. This philosophy highlights the importance of prioritizing cash flow over asset accumulation, suggesting a shift in mindset necessary for planning a successful retirement.

In addition to standard retirement planning, the Mattson Financial Services team emphasizes the importance of legacy planning. Laurel highlighted, “When we understand and learn what your goals are, we ensure your income flow matches and exceeds that.” This principle guides their approach to diversification and comprehensive investment strategies while addressing tax planning to ensure financial efficiency. From Gary Mattson’s debut publication What Your Parents Never Told You About

“Retirement isn’t about how much money you have; it’s about how much income flow you have.”

- Gary Mattson, Founder of Mattson Financial Services.

At the heart of Mattson Financial Services is a strong family-oriented culture. Gary proudly remarked, “Every client is part of our family, and we’re part of theirs.” This commitment to a familial approach influences not only their daily operations but also strategic decisions within the firm.

Laurel Steward, Gary’s daughter and the newly appointed President of Mattson Financial Services, shares her father’s passion for client service.

Money, “Financial literacy is not just relegated to knowing the ‘right’ thing to do at the ‘right’ time. It’s also about understanding how certain decisions affect everything else in the web of your financial life, including your relationships and family,” (Mattson, p. 2).

Retirement planning can be complex. Although client journeys can differ, Mattson Financial Services plans include long-term care, working with their in-house licensed agent

Since joining the firm ten years ago, Laurel has played a crucial role in expanding Mattson Financial Services into a national advisory firm with over $300 million in assets under management, extending their reach beyond Michigan.

Retirement can be a complex journey that requires thorough understanding, personalized strategies and a deep commitment to client relationships. The approach and emphasis on holistic planning guides clients throughout their retirement journey and helps secure a prosperous financial legacy for future generations with their Enhanced Retirement Plan. As you consider your retirement goals, remember that it’s not just about accumulating wealth but ensuring a steady cash flow that aligns with your dreams, goals and desires. Mattson Financial Services is a West Michigan Better Business Bureau partner and a trusted financial firm to help you throughout this journey.

Visit the team at mattsonfinancial. com to get started on your ENHANCED RETIREMENT PLAN! (800) 536-8907

Founder Gary Mattson and his daughter, President Laurel Steward

What makes a successful business

Ethics, knowledge and a client-centric culture

By Lynn Chen-Zhang, CEO

Charles and I started our business from zero in 1992, and we had no natural market. Now 30+ years later, we have more than $6 billion in assets under management and a team of 50 employees. I attribute the success of our business to the fee-only approach, the strong and diverse knowledge of our team, and most importantly, our client-centric culture.

If you look at financial service companies’ websites, you often see the words like “integrity” and “trust”. After all, you have to trust a company and its advisors first before you turn over the management of your lifetime savings. However, if you check the regulatory filings (Form ADV and CRS) of the firms, you might be shocked to find out how many companies have conflicts of interest from proprietary products, soft dollars and other questionable practices that stand in the way of them being ethical and earning clients’ trust. When Charles and I founded Zhang Financial decades ago, we started with one goal in mind –creating a wealth management firm that would allow us to always act in our clients’ best interests. What sets the financial services industry apart is the effect that ethics can have on the clients’ long-term well-being. The lack of ethical business practices in wealth management often equates to the loss of hundreds of thousands of dollars. Thus, it was Charles’ and my intention to not only work hard for our clients but to do so ethically so that they can truly enjoy the fruits of their lifelong labor.

We started by eliminating all conflicts of interest from the compensation model. Charles and I are registered with the National Association of Personal Financial Advisors (NAPFA for short) as fee-only advisors: the gold standard when it comes to upholding fiduciary responsibility. Only 1.4% of financial advisors nationwide are NAPFA-registered fee-only advisors. What this means is that advisors who are NOT fee-only are allowed to, and often do,

dedication to integrity and ethical practices.

We are not in the business of selling products. Rather, we sell our knowledge and expertise; we believe that knowledge and expertise are not self-proclaimed and can be best substantiated by professional designations. Marks such as the Certified Financial Planner (CFP®) and Chartered Financial Analyst (CFA) prove to our clients that we are selling the

“We are not in the business of selling products. Rather, we sell our knowledge and expertise.”

accept commissions and kickbacks from their product companies. For an advisor accepting commissions and soft dollars, they are now strongly incentivized to recommend these products to their clients.

Unlike companies who satisfy the fiduciary standard by merely disclosing the conflicts to the regulators, we effectively eliminate these conflicts with our unique fee-only compensation model, which allows us to truly put our clients’ interests first. Zhang Financial has been named the winner of the 2022 Better Business Bureau’s Torch Award for Ethics. The Torch Award for Ethics is the most prestigious honor the BBB can present to exceptional organizations for their

best advice the industry has to offer. Our team has exceptional credentials and a diverse knowledge base. We have learned that the best solutions for our clients come when we work together. By utilizing expertise from different team members in each client relationship, clients gain access to experts in investment strategy (CFA), financial planning (CFP®), income and tax planning (CPA) as well as academic research (Ph.D., MBA, JD, MST) just to name a few. Our culture can be defined as a team effort with an overall drive for excellence that applies to both the advice we give and the service we provide.

With the elimination of conflicts of interest from proprietary products,

commissions and other questionable business practices, we can focus our attention on providing the best solutions and services to clients. In an industry that has intensive merger and acquisition activities, we continue focusing on organic growth from referrals and word-of-mouth with our client-centric culture.

We are doing well with that approach.

Our Founder and President, Charles Zhang, has been ranked #1 on Barron’s list of the nation’s Top 100 Independent Financial Advisors for 2023 and 2021 and has been ranked in the top 2 for the past 5 years. Charles has also been named the No. 1 Financial Advisor in Michigan by both Barron’s and Forbes for many years. Zhang Financial has been ranked No. 6 in the nation on Forbes’ list of America’s Top RIA firms for 2023 out of over 15,000 RIAs in the nation. It is also the highest-ranked firm on the list that is free from conflicts of interest that arise from selling proprietary products, engaging in principal trading, third-party payments, revenue sharing, receiving commissions, kickbacks, or soft dollars.

See zhangfinancial/disclosure for full ranking criteria.

Ms. Chen-Zhang is the CEO of Zhang Financial. Ms. Chen-Zhang was named to Investopedia’s List of the 100 Most Influential Advisors for 2023. Lynn received her MBA from the Kellogg School of Management, Northwestern University and her MS in Accountancy from WMU. Both Lynn and Charles Zhang, Founder and President of Zhang Financial, were named by Ernst & Young, an Entrepreneur Of The Year® 2024 Michigan and Northwest Ohio Award winner.

CHARLES ZHANG Founder and President, Zhang Financial

LYNN CHEN- ZHANG

Our Zhang Financial Team

Our Office is Located at: 460 Ada Drive SE, Suite 200 Ada, MI 49301

616-235-5777 or 888-777-0126

With additional locations in Portage, Troy, Battle Creek, Ann Arbor, Traverse City, Okemos, MI and Naples, FL

Fee-Only Unbiased Investment Advice

• We uphold a Fiduciary Standard and work with clients on a fee-only basis.

• We do not receive commissions, kick-backs, or soft dollars from product sales, eliminating inherent conflicts of interest.

Credibility & Professionalism

• Our team of professionals holds designations and degrees such as CFP®, CFA, CPA, MBA, JD, and PhD.

• Charles received his MBA from the Kellogg School of Management - Northwestern University, his MA in Economics from Western Michigan University, and Executive Education from Harvard Business School and Columbia University.

Charles Zhang, CFP®, MBA, MSFS, ChFC Founder and President, Zhang Financial

• Ranked #1 on Barron’s list of America’s TOP Independent Advisors and is the highest ranked NAPFA-Registered Fee-Only Advisor on the list.*

• Ranked #4 in the nation on Forbes’ list of TOP Wealth Advisors and is the ONLY Independent Advisor in the top 10.**

• Member Barron’s Hall of Fame, acknowledging advisors who have appeared in Barron’s annual Top 100 Advisor ranking for 10+ years.

Minimum investment: $1,000,000 in Michigan/$2,000,000 outside of Michigan. Assets under custody of LPL Financial and Charles Schwab.

*As reported in Barron’s March 11, 2024 and September 15, 2023. Based on assets under management, revenue

factors. For fee-only status see NAPFA.org. **As reported in Forbes April 3, 2024. The Forbes rankings, developed by SHOOK Research, are based on an

and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years

assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working

clients. See zhangfinancial.com/disclosure for full ranking criteria.

revenue

Wealth on your level

Empowering clients with a fresh approach to financial planning

Mariner, a national financial services firm, is pleased to announce the opening of its newest location in Grand Rapids. The new office, representing about $269 million in assets under advisement, is located at 40 Pearl Street NW. The office is led by Senior Wealth Advisor, Bre Seech, bringing a modern perspective to wealth management. Together, they will focus on contributing to Mariner’s mission of positively impacting the lives of many.

Prior to joining Mariner, Bre spent eight years at Merrill, where she received comprehensive training and mentorship, advancing her skills and career. She is a Certified Financial PlannerTM professional, Certified Private Wealth Advisor (CPWA®), and Chartered Retirement Planning Counselor (CRPC ®). When approached with the tremendous and daunting opportunity to lead a new market for Mariner in 2021, she took the leap. Since the office launch, she has prioritized developing stellar talent to help support and grow her

efforts. Bre leads a team of three, including Antashé Howard, Associate Wealth Advisor; Howard University, and Kylie Kennedy, Planning Intern; Grand Valley State University. Antashé has been integral in the office launch, supporting Bre and their clients from the beginning. She

as a Client Service Associate upon graduating from Grand Valley in the Spring of 2025.

Bre’s team prides themselves on being committed to providing an elevated client experience. By employing Mariner’s state-of-the-art technology

By employing Mariner’s state-ofthe-art technology and investment solutions, they’ve been able to effectively scale to provide exceptional service.

recently relocated to Grand Rapids from Detroit and was promoted to Associate Wealth Advisor at the end of 2023. Kylie is learning the basics as a Planning Intern and will start

and investment solutions, they’ve been able to effectively scale to provide exceptional service. This is demonstrated by their retention rate of 97.6% from January 1 to June 30,

2024. All Mariner advisors, have access to a bevy of specialists, giving them the confidence and ability to tackle complex issues that are difficult to solve. Because when advisors have access to a more collaborative approach, clients get access to more sophisticated solutions. Behind every Mariner advisor, is a team of advisors. Any individual or family with growing financial complexities, tax concerns or transitions on the horizon may very well benefit from an introductory conversation with Bre’s team.

Reach out to your local Grand Rapids Mariner team to start a conversation today!

https://www.marinerwealthadvisors. com/our-team/breanna-seech/

Mariner is the marketing name for the financial services businesses of Mariner Wealth Advisors, LLC and its subsidiaries. Investment advisory services are provided through the brands Mariner Wealth, Mariner Independent, Mariner Institutional,

Mariner Ultra, and Mariner Workplace, each of which is a business name of the registered investment advisory entities of Mariner. For additional information about each of the registered investment advisory entities of Mariner, including fees and services, please contact Mariner or refer to each entity’s Form ADV Part 2A, which is available on the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov). Registration of an investment adviser does not imply a certain level of skill or training.

AUA of $269 million as of 6/30/2024

Breanna Seech, CFP®, CPWA®, CRPC® is a Senior Wealth Advisor for Mariner

Why a power of attorney should be part of your estate planning toolbox

Safeguard your future: Understanding the importance of a power of attorney

Most estate planning clients I meet come to my office prepared to talk about protecting their assets for family and friends following their deaths through use of documents such as a will or a trust. Many have never considered how to best protect their interests if during their lifetime they become incapacitated or unable to make their own decisions. This can be addressed through the use of a Power of Attorney (POA). A well drafted POA can be just as important of a tool to keep in your estate plan as your will and trust.

What

is a Power of Attorney:

A Power of Attorney (POA) is a legal document created by a principal (you) to designate another person, referred to as the agent or attorneyin-fact, to act on your behalf. The document can either give broad authority to the agent to act, or use of limiting language to narrow its scope to a specific purpose or circumstance.

There are two primary types of POA documents that are used in the State of Michigan: a financial POA (often referred to as a Durable Power of Attorney) and a medical POA (also referred to as a Designation of Patient Advocate).

Power of Attorneys generally become effective in one of two ways: (1) the language within the POA makes it effective immediately upon signing, or (2) the POA becomes effective upon a specific future event, for example, a physician finding of mental incapacity.

Who should be my agent:

It is important to keep in mind when creating a POA that the person you select as your agent may have authority to make major decisions that could have a dramatic impact on your life. This includes making decisions about your health, financial accounts, home, and other assets. You will want to consider who to select as your agent very carefully. I usually advise clients

to select someone who they trust with money, is responsible, and has not had serious financial mishaps in their past. The agent does not need to be a direct family member or relative. It can be any individual you choose.

What if I don’t have a

Power of Attorney:

What happens if you don’t have a POA in place and become incapacitated or unable to make your own decisions?

In Michigan, those who become incapacitated or unable to make decisions for themselves without a POA would need someone to file a Guardianship and/or Conservatorship Petition with their local county Probate Court to gain the legal authority to manage their affairs. The probate route often proves to be costly and time consuming. Many find they need to hire an attorney to assist and even then, it can take weeks, or even months, before the Courts are able to render a decision. Doing the planning upfront with a POA can save your loved ones from needless stress in the future.

New rules for Power of Attorney documents in Michigan:

Michigan recently passed the Uniform Power of Attorney Act (UPOAA) (MCL 556.201-.505) and it became effective July 1, 2024. The UPOAA was designed with several goals in mind including promoting uniform acceptance of notarized POAs, providing adequate protections for third parties who rely on a POA in good faith, creating default rules for POA documents, and resolving some POA disputes before they require court intervention, thus freeing up judicial resources.

For those who may already have a Power of Attorney that was created prior to July 1, 2024, the UPOAA does not necessarily require a new document be drafted so long as your Power of Attorney was validly executed and notarized at the time it was signed. You may, however, want to review your document with an

estate planning attorney to verify it complies with the UPOAA.

Amber M. Soler, an associate of Mika Meyers, specializes in divorce and family law, estate and trust planning, and probate and trust administration. She approaches each legal matter with empathy and understanding while fiercely advocating and working diligently to find the best possible outcome for each unique circumstance. Amber is a member of the State Bar of Michigan, the Grand Rapids Bar Association, Women Lawyers Association of Michigan, and the National Association of Women Lawyers. She was recognized for inclusion in Grand Rapids’ Magazine’s 2023 Top Lawyers.

over 50 years,

you,

effective

Lakeshore Advantage expands presence in Ottawa County

By Mark Sanchez

Lakeshore Advantage Corp. will better support economic development in northwest Ottawa County through a new partnership with the chamber of commerce in Grand Haven.

Under the new memorandum of understanding, The Chamber of Commerce Grand Haven, Spring Lake and Ferrysburg will continue to provide economic development services under contract to five communities in northwest Ottawa County. The larger Lakeshore Advantage will take on a more proactive role in supporting that work and employers in the area.

The strategic partnership shapes “how our two organizations can work better together to support all of the needs of businesses here within northwest Ottawa County,” said Chamber President Mark Allen.

“It gives an opportunity for both of us to really focus in on our areas strength, but still make sure that The Chamber has a seat at the table in conversations relative to business attraction, retention and expansion, and things like that,” Allen said. “We can accomplish so much more by working together.”

In situations where a manufacturer is expanding, needs to grow its physical space and plans to pursue tax incentives, “we can help with that, but Lakeshore Advantage has so much more knowledge and access to information and resources and connections that we would want to bring them to the table to facilitate those conversations,” Allen said.

“We’re the local boots on the ground, and then we bring in those partners for the things that are a little bit out of our area of expertise,” he said. “I hope to see more opportunities for the Tri-Cities to really have that visibility as a place where businesses that are looking to relocate or enter into the Michigan market would choose. I am hopeful for the opportunity to connect with more manufacturing companies through this partnership where we’re both inviting one another out on meetings to be part of conversations, and really just have

that voice and presence at the table on all things relating to economic development and business growth for northwest Ottawa County.”

Lakeshore Advantage contracts with Ottawa County to handle economic development across the county. In Grand Haven, Spring Lake and Ferrysburg, Lakeshore Advantage has played a “second position and waited to be called in for help” by the Chamber, said President Jennifer Owens.

The partnership with The Chamber solidifies ties between the two organizations and allows Lakeshore Advantage to “provide the full level of economic development services that we can in the Tri-Cities area in partnership and collaboration with The Chamber,” Owens said. That will include one-on-one consulting with business leaders, identifying local needs, and extending Lakeshore Advantage’s entrepreneurial support programs into northwest Ottawa County, she said.

Leaders and business development teams of the two organizations will meet regularly to share project updates and discuss strategic regional initiatives, coordinated business retention efforts, and proactively share resources.

The new partnership “allows us to do our work more efficiently and effectively in the Tri-Cities,” Owens said.

“It really is a new level of support and working together,” Owens said. “It’s more of a seamless partnership, versus something that was a little bit clunky and really didn’t work as well as we would have liked. So, this is a new dawn.”

Lakeshore Advantage has similar agreements with The Right Place Inc. in Grand Rapids and Greater Muskegon Economic Development to raise collaboration between the groups in which they agreed to avoid poaching companies within the region, as well as to learn from one another and regularly share best practices, Owens said.

The deeper arrangement between the two Ottawa County groups enables them to take a more regional approach to economic development that today is needed more than ever before, she said.

The headquarters of The Chamber of Commerce Grand Haven, Spring Lake and Ferrysburg. mARK SANCHEZ

Palisades restart could get utility to 100% carbon-free power

By Andy Balaskovitz ly reduce

A Lower Peninsula electric cooperative is banking on the unprecedented restart of a Southwest Michigan nuclear plant to help the utility reach a 100% carbon-free power goal by 2030, a full decade before a recently adopted statewide target.

Wolverine Power Cooperative executives announced Aug. 29 that the utility plans to achieve a 100% carbon-free portfolio through existing and anticipated renewable energy contracts. As well, Wolverine announced a year ago that it had secured a power purchase agreement to offtake power from the Palisades if and when the nuclear power plant restarts.

Officials with the plant owner, Holtec International, have said they hope to reopen the 777-megawatt power plant in Van Buren County as soon as next year, pending necessary regulatory approvals. Wolverine, which is based in Cadillac and supplies power to seven member cooperatives around Michigan, would buy about two-thirds of the power from

“Making sure that we have solid base load assets in Palisades is essential, not just for Wolverine and its members, but for all of Michigan.”

Eric Baker, Wolverine CEO

Palisades. That would represent a large majority of Wolverine’s roughly 700 MW load.

“We’re really excited about Palisades, you can see how this entire strategy is predicated on that,” Wolverine CEO Eric Baker told Crain’s Grand Rapids Business.

“Things continue to move in a positive direction (on reopening), and we’re very appreciative of the recognition by Gov. Whitmer that this is an important part of the state’s future and our ability to achieve these goals.”

Under sweeping energy reforms Gov. Gretchen Whitmer signed into law last year that includes a statewide 100% carbon-free power target by 2040, nuclear energy qualifies as a carbon-free power source.

The plan to reopen Palisades is currently before federal nuclear energy regulators. At Nuclear Regulatory Commission public hearings in July, the plan reportedly drew mixed reactions from residents who have raised both public safety concerns with the 53-yearold plant and support for bringing back economic activity to Covert Township.

The reopening plan also has divided environmental and clean energy supporters, again over the potential public health risks versus the need for carbon-free baseload energy, particularly as utilities forecast growing demand and the state charts a course to significant-

carbon emissions.

To Baker at Wolverine, Palisades represents a crucial opportunity to clean up the utility’s power supply while ensuring electric reliability as more coal plants come offline and intermittent renewables are added to the grid.

“The one that’s really difficult to get our arms around is the growth in AI and data centers, and the numbers that are so staggering and really large that even very, very small data centers could represent double-digit percentage growth in a single year for Wolverine and its members,” he said.

“We’re very concerned that that capacity may not exist in Michigan, and particularly if it’s carbon-free.”

“Making sure that we have solid base load assets in Palisades is essential, not just for Wolverine and its members, but for all of Michigan,” Baker added.

Meanwhile, Palisades’ reopening plan has the financial support of both the state and federal governments. Michigan has set aside $300 million in funding in the current and next state budgets, while the U.S. Department of Energy has approved a conditional $1.52 bil-

lion loan for the plant’s restart. Holtec in recent weeks has been restarting various equipment at the plant, such as coolant pumps that recirculate water in the facility. This

install new computer systems, the Wall Street Journal reported recently.

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fall the company plans to move spent fuel into a storage pool and

Palisades nuclear plant.

HIGHEST-PAID NONPROFIT LEADERS IN MICHIGAN

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Haworth office furniture dealer enters Detroit market

By Mark Sanchez

Grand Rapids-based office furniture dealer Interphase followed clients into the Detroit market with the opening of a new showroom.

The Haworth Inc. dealer opened the temporary location in the Chroma Detroit building at 2937 E. Grand Blvd. in Detroit’s Milwaukee Junction neighborhood, down the road from the historic Fisher Building, and expects to have a permanent showroom within the city limits in the next few months.

By opening a Detroit store, Interphase wants to serve existing clients that are based in the Grand Rapids area and have a presence in the Detroit area, and to become part of the city’s economic renewal.

The new location positions Interphase into what owner and President Johnny Brann Jr. called a “great place to do business in Michigan and they’ve been growing” and offers an opportunity to “do some great things with the business leaders over there.”

“We’ve done some other business over there with companies that are headquartered primarily here in West Michigan, so we had that opportunity already. This was just another expansion opportunity for us to do more business in a market that we already had some time in,” Brann told Crain’s Grand

Rapids Business. Interphase wants “to be in the middle of everything that’s going on and help contribute to what we

can do in that community and that market,” Brann said.

“As we saw that opportunity continue to present itself as we were doing business there, we thought we’d go straight into the market,” he said. “We’ve seen what’s going on over there and we’ve been part of it already to a point. We just want to be a part of what’s going on in that great market and be a part of what they’re building over there. It’s just a great opportunity for us to expand.”

The Interphase East location is the company’s third in Michigan. Founded in 1981 and owned since 2018 by Brann and CEO Dave Shaffer, Interphase also has showrooms on Leonard Stret NW in Grand Rapids and in Traverse City.

The dealership primarily represents Holland-based Haworth, which recorded $2.3 billion in sales in 2023, plus numerous other furniture makers.

Haworth previously had one Detroit-area dealer, ISCG in Royal Oak, plus a dealership in Lansing, DBI Business Interiors.

Interphase has more than a dozen clients that are based in West Michigan and have offices in the Detroit area, Shaffer said.

“There’s a pretty regular stream of business that we already have within this space,” Shaffer said.

In making the move into the Detroit market, the executive leaders at Interphase felt it was important to base a dealership within the city.

“The building where we’re temporarily locating now seems like a spot that’s up-and-coming in Detroit and we want to take part in it,” Shaffer said. “How the whole city of Detroit has grown and just the opportunity that’s there, we wanted to be part of the community and the fabric and felt that was the best spot for us to grow.

“To be part of something that’s up and coming is how we’re looking to grow, too.”

Interphase, a Grand Rapids-based Haworth office furniture dealer, opened a temporary office in Chroma Detroit, a coworking, event and meeting space, as it plans for a permanent showroom in the city. | FILe pHOtO bY NICK mANeS

Johnny Brann Jr. Dave Shaffer

Interphase’s headquarters on Leonard Street NW in Grand Rapids. COUrteSY pHOtO

State approves $252M incentives package for major projects

By Kate Carlson

A state board has approved $252 million worth of tax incentives that provide a key piece to the financing puzzle for the Acrisure Amphitheater, proposed soccer stadium and two adjacent mixed-use projects in Grand Rapids.

The Michigan Strategic Fund (MSF) board on Aug. 27 approved the Transformational Brownfield Plan incentives for the projects being developed along the Grand River by Grand Action 2.0. The projects are expected to total a $714.7 million investment and create 250 full time jobs.

Taken together, the four projects are a “great example” for deploying

the transformational brownfield tool, Michele Wildman, chief place officer at the Michigan Economic Development Corp., told Crain’s Grand Rapids Business.

Prior to that meeting, the MSF had approved five projects for transformational brownfield incentives since lawmakers launched the program in 2017. The mixeduse Factory Yards development was the first project in Grand Rapids to receive the incentives.

“There are so many unique aspects of the project coming together,” Wildman said of Grand Action 2.0’s plans. “Certainly the $700 million or so in planned investment, and the different cultural and housing and river reactivation ele-

ments that we see coming together along the riverfront. We believe it will have a long-lasting community impact and it will certainly bring new foot traffic. I think it will have a great impact on the broader region.”

The four projects are in varying stages of development on different properties around downtown Grand Rapids. Construction work began earlier this year on the $183.7 million Acrisure Amphitheater at 201 Market Ave. SW.

Grand Rapids Mayor Rosalynn Bliss during the meeting noted Grand Action’s prior success in developing major projects downtown.

“With these funds, we can con-

tinue the legacy of Grand Action and bring two transformational, mixed-use projects to our region, benefitting residents from all walks of life and generations,” Bliss said.

“So projects like the amphitheater and soccer stadium that are part of this application will benefit local businesses, they are going to spur new development and revitalize a significant portion of our underutilized riverfront property.”

Site work has yet to begin on the $175 million soccer stadium proposed on surface parking lots north of Pearl Street just west of U.S. 131.

Grand Action 2.0 Executive Director Kara Wood expects construction on the stadium to begin next year.

“We have a proven track record of success in GR and we are continuing that legacy today to advance the growth of our city,” Wood said during the meeting. “The project before you today will clearly have a transformational impact, converting property currently serving as surface parking and municipal operations to dense, mixed-use redevelopments that will provide entertainment, retail, housing and public recreation space on nearly 20 acres of land in downtown Grand Rapids.”

The mixed-use developments that have been proposed on properties adjacent to each venue are in the conceptual stages right now, with additional private development partners expected to lead them.

Wildman acknowledged that details involving the future development partners are forthcoming.

“We understand the arrangement here, and the process that they’re going through and have worked to accommodate it because we think this is a really exciting project for certainly the city and frankly for the broader region,” Wildman said.

Following the Michigan Strategic Fund board’s approval, the MEDC will next work on reimbursement schedules that could need additional approval if project costs change at all, Wildman said.

“Every time we do a transformational brownfield project, it’s definitely a long, involved journey with all partners and none of these look exactly the same,” Wildman said. “There’s unique aspects of just about every single one.”

The amphitheater would be approximately 296,109 square feet with 12,160 seats, administrative

offices, a talent-support building and concessions. The amphitheater property totals 10.6 acres and the project will also include a publicly owned riverwalk along the Grand River next to the venue.

The mixed-use development next to the amphitheater would include an approximately 475,207-square-foot apartment building with 475 residential units and a six-story parking garage, according to Grand Action 2.0’s TBP application.

The soccer stadium is proposed on 8.2 acres located west of the Grand River on surface parking lots owned by Downtown Grand Rapids Inc. (DGRI). The 134,500-squarefoot soccer stadium would be located just west of downtown with 8,500 seats. The venue would attract “the only team in a major professional league in Grand Rapids and will include a full-size soccer pitch to support national and international matches,” according to the application.

The mixed-use commercial building and parking garage proposed immediately north of the stadium would be 18 stories with 263,600 square feet. The Stadium District Tower would include retail or restaurant space, office space, a 350-space parking structure and 260 residential units. As well, a 224foot pedestrian skybridge would be constructed at the southwest corner of Lake Michigan Drive and Winter Avenue, spanning west over Winter Avenue and north over Lake Michigan Drive and Pearl Street.

Grand Action 2.0 initially proposed two options related to the affordability level of the residential portion of the mixed-use projects. These included an option of agreeing to rent 20% of each unit type to people earning at or below 100% of area median income for 20 years.

Grand Action 2.0 instead plans to make annual contributions to the city’s Affordable Housing Fund based on the percentage of residential-driven TBP incentive proceeds.

The residential rents are generally expected to be set at 11% to 46% above market rates.

The amphitheater and soccer stadium venues would eventually be owned by the Grand Rapids-Kent County Convention/Arena Authority (CAA), which administers other projects developed by Grand Action 2.0, previously Grand Action, including DeVos Place, DeVos Performance Hall and Van Andel Arena.

Renderings for the proposed Acrisure Amphitheater in downtown Grand Rapids.

| COURtESY OF PROGRESSIVE COmPANIES

Travel Michigan, Pure Michigan campaign get new leadership

By Rachel Watson

Pure Michigan has a new leadership structure as it moves under the state’s new growth office aimed at connecting tourism marketing to population growth efforts.

The Michigan Economic Development Corp. said in a Sept. 5 statement it has tapped Kelly Wolgamott, the interim vice president of Travel Michigan since January, to serve as vice president of the Pure Michigan advertising campaign. Pure Michigan is now housed within the MEDC’s Michigan Growth Office created in July and led by Hilary Doe, who serves as chief growth and marketing officer.

Wolgamott will report to Carrie Jones Grace, who later this month will step into the newly created role of senior vice president of travel, media and industry relations within the Growth Office.

The Growth Office now oversees tourism promotion efforts as part of a broader plan to reverse the state’s population declines by making Michigan a more attrac-

“Make It In Michigan” economic development strategy focused on people, places and projects.

tive place to visit, live and work.

Jones Grace, who is currently chief of staff for Detroit Mayor Mike Duggan, will report to Doe, who in turn reports to MEDC CEO Quentin Messer Jr. Wolgamott will continue to handle day-to-day management of the Travel Michigan team. Jones Grace will oversee the Travel Michigan office, along with the Michigan Film Office and the MEDC communications team.

Jones Grace also will work closely with the Michigan Travel Commission, a 13-member body appointed by the governor to manage the growth of the travel industry.

Messer said in a statement that the leadership changes are “part of an intentional effort” to integrate Travel Michigan and the Travel Commission into the MEDC as the state launches a “Make It In Michigan” economic development strategy focused on people, places and projects.

“The tourism and hospitality industry is important across all three pillars,” Messer said in the statement. “Carrie’s new role will enable MEDC to deliver even greater stakeholder engagement and position our state for continuing success over the next 20 years.”

At the same time, he said Wolgamott’s “talents, personal commitment, wealth of industry knowledge and marketing expertise” will be key to helping Pure Michigan continue to tout the state’s four-season appeal for travel.

Doe lauded Wolgamott for her “stewardship” of Pure Michigan.

“(She) has helped it grow into a

key pillar in Michigan’s efforts to grow our economy and attract new visitors and residents to Michigan,” Doe said in a statement. “We’re excited to also bring additional firepower to the table by welcoming Carrie to the team

to bolster our ability to support industry partners with more consistent stakeholder engagement in the legislature, media and across state government.”

Jones Grace has worked for the city of Detroit for more than five years. In her current role, she oversaw daily operations of the mayor’s office, including Project Clean Slate and the Detroit Promise Scholarship Program. Prior to joining the city, she was the executive director of the Michigan Venture Capital Association. Before that, she was the Michigan film commissioner and director.

Wolgamott joined Travel Michigan in 2011 and served as director of travel marketing for more than 12 years until being tapped to replace former Travel Michigan VP Dave Lorenz when he retired in December. She previously held marketing and public relations roles at General Motors and the Chicago-based ad agency Leo Burnett Worldwide.

The Pure Michigan campaign, which is nearing its 20th anniversary, is funded by state budget allocations supplemented by onetime earmarks and occasional federal monies.

The fiscal year 2025 state budget includes $30 million for Pure Michigan between the general fund and one-time earmarks, falling short of the $50 million that hospitality groups asked for in February.

Travel Michigan leaders have long pointed to studies that show the ad campaign has direct effects on the state’s economy. A 2023 SMARInsights report found the Pure Michigan campaign was responsible for 1.5 million visitor trips last year that generated $2.5 billion in spending and $156 million in state tax revenue.

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UM economists say state’s job growth will slow, but stay positive

By Mark Sanchez

Job growth in Michigan will remain positive for the next two years but slow substantially as U.S. economic growth eases, according to an updated outlook.

Economists at the University of Michigan’s Research Center in Quantitative Economics expect the state to record 0.8% job growth for 2024, which compares to 1.8% in 2023. Michigan’s economy will ease a little further in 2025 with 0.3% job growth from 2024 to 2025, and then tick up to 0.4% in 2026.

“are not hitting the panic button just yet” on the state’s economy and that their updated outlook has two interpretations. One “paints a challenging picture, with slowing job growth, rising unemployment, and hardly any growth in real disposable incomes.”

The second interpretation “offers a more optimistic outlook, with statewide growth persisting through a period of high inflation and interest rates, and a subsequent slowdown in national economic growth.”

“Cracks have started to show recently in the foundation of Michigan’s previously vigorous economic recovery from the COVID-19 pandemic and subsequent expansion. These fissures simply reflect the national pattern, in which recession fears have recently revived following signs of a cooldown in the labor market,” UM economists wrote in the updated outlook they issued Sept. 3.

“We continue to believe that clear progress on disinflation will allow the Federal Reserve to pivot to interest rate cuts in time to prevent a recession, although we project a period of slower national growth ahead. Our forecast for Michigan’s economy follows those same contours, with job growth slowing substantially, yet staying in positive territory on an annual basis through 2026.”

UM predicts the state will add 36,800 jobs this year, compared with more than 80,000 in 2023. Job growth will then average 14,900 new positions each year in 2025 and 2026.

Michigan’s unemployment rate, which registered 3.9% from February to May and then increased to 4.4% in July, should inch upward as job growth slows and Michigan’s economic growth takes “a bit of a breather in the short term, reflecting the accumulated strain of high interest rates.”

Unemployment for the state for all of 2024 will average 4.2%, followed by 4.7% in 2025, according to the outlook, which notes the rate should ease to 4.6% in 2026.

UM economists wrote that they

“We incline toward the second interpretation, noting that, if our forecast proves accurate, Michigan will have added jobs in every year but one in the 16 years from 2011–2026. The exception, of course, was 2020, the first year of the COVID-19 pandemic,” UM economists wrote. “We interpret our forecast of continued job growth as a testament to the ongoing diversification and growing resilience of Michigan’s economy, even in the face of a tough external environment.”

The outlook projects automotive production to increase to an annual rate of 15.9 million units by the fourth quarter and grow to 16.3 million units by the end of 2026.

More broadly, an updated U.S. economic outlook that UM economists issued three weeks ago projects “a modest deceleration of economic growth to accompany the cooling labor market.” UM expects U.S. Real GDP growth to slow from 2.6% in 2024 to 1.9% next year and then rebound to 2.5% in 2026.

The national outlook projects that the Federal Open Market Committee will begin reducing interest rates at its next meeting Sept. 17-18, as inflation continues to ease, and the labor market slows.

“A first cut in September now seems set in stone, while the pace of cuts going forward will likely be moderate, absent rapid deterioration of labor market conditions,” UM economists wrote in the national outlook. They expect rate cuts will continue at every FOMC meeting through May 2025.

UM economists predict the state will add 36,800 jobs this year, compared with more than 80,000 in 2023.

New $38M dorm to give Ferris students an end-zone seat

By Rachel Watson

Ferris State University hopes that a new $38 million residential dorm in the end zone of its football field will draw students who might otherwise choose a different school.

The Big Rapids-based school’s latest residential hall will wrap around the north end zone of Top Taggart Field, the home of the Ferris State Bulldogs’ football team since 1957.

Renderings for the approximately 300-bed, four-story facility were unveiled Aug. 29 at a Founder’s Day event on campus as part of what Ferris State University President Bill Pink called a multiphase plan to upgrade or replace existing dormitories.

Pink, who has served as president of Ferris State since July 2022, said in an address to campus during the event that he knew the university needed to prioritize investing in its housing facilities when he heard from peers that students were choosing other schools with better residential options.

Ferris, which has its main campus in Big Rapids with satellite locations in Grand Rapids and across Michigan, saw its enrollment decline from about 10,072 students in fall 2022 to about 9,918

in fall 2023, a drop of about 1.5%.

Enrollment numbers for fall 2024 are not out yet.

The school currently has 17 dormitories on its main campus with a capacity of about 3,000 beds. But many of them were built as long ago as the 1950s and ’60s, Pink said. The newest dorm, North Hall, was completed in 2017.

Pink told Crain’s Grand Rapids Business that he knows Ferris can do a better job serving existing students and attracting new ones.

“With having all the regional and public and private institutions across the state, (and with) a limited amount of individuals who are going to college, it’s important that Ferris State continue to take the type of market share that this university has had and then see how we (can increase) that market share,” he said.

Pink said the new facility will have clean, attractive shared community gathering and meeting spaces in addition to the sleeping quarters, though detailed concept plans are still in the early stages. He said the new living space is not intended to be for student-athletes, though some may choose to live there.

In addition to its proximity to the football field, the new dorm also will be next door to the Center for Virtual Learning and its

e-sports arena, across the street from the student recreation center, near two dining halls and a short walk from the health center.

“These students will truly have the best seat in the house,” Pink said.

University officials say Ferris State is the first among Michigan’s 15 public universities to attach a residence hall to a large multipurpose stadium. The private faithbased Cornerstone University in Grand Rapids has a residence hall serving about 90 students at-

tached to its baseball stadium.

Ferris State plans to cover the cost of construction by issuing bonds, and it also is looking for a naming rights sponsor for the dorm, Pink said.

Groundbreaking is expected to take place in the spring of 2025, with the new residence hall opening by fall 2026.

Troy-based Integrated Design Solutions, which has a Grand Rapids office, is the architect on the project. IDS has worked on a number of facilities at Michigan

universities, including the Tom Izzo Football Building at Michigan State University and the Hadley Family Recreation & Well-Being Center at the University of Michigan.

Grand Rapids-based Granger Construction will be the construction manager. The firm recently completed work on Ferris State’s historic Alumni Building and last year earned industry honors for its work on Grand Rapids Community College’s Secchia Piazza.

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The new $38 million residential hall would be at the north end of Top Taggart Field. | INteGrAteD

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UFP Industries to get its first new CEO in 13 years

By Mark Sanchez

UFP Industries Inc. will transition leadership toward the end of the year, as CEO Matthew Missad prepares to step down as part of a long-term succession plan.

Missad, who’s served as CEO at the Grand Rapids Township-based UFP Industries for 13 years, will transition to executive chairman Dec. 29. He’s been with UFP Industries for more than 40 years, and in February 2023 added chairman duties as part of the succession plan.

William Schwartz, the president of UFP Industries’ retail business unit, becomes CEO on Dec. 29, and CFO Michael Cole adds the title of president of corporate services to his duties.

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Missad and Schwartz will work together closely during the transition. Missad will serve as executive chairman through 2026 to assist Schwartz “and provide support where needed,” including shareholder relations and in long-time customer and vendor relationships, according to an announcement on the transition

“It’s an exciting time to be at UFP because of the opportunities these changes create for our teammates,” Missad said in a statement. “Our succession planning process has created an excellent group of leaders, and I am confident that this new team of experienced executives will achieve even greater success.”

UFP Industries named Missad as CEO in July 2011. Under his leadership, the company made several acquisitions and “made significant changes and improvements, including the creation of a new operating structure based on market segments rather than geography,” according to the statement.

UFP Industries’ revenues over the 13-year period grew from $1.8 billion in 2011 to $7.2 billion in 2023, and its share price increased more than 1,500%.

Schwartz has been with UFP Industries since 1998, starting as a sales trainee and over the years moved into a series of leadership

roles that include account manager, sales manager, regional sales director and executive vice president. In 2023, he was named president of UFP Retail Solutions, the company’s largest business segment that specializes in yard and home products and at midyear generated $809 million in sales, or more than 42% of corporate revenues.

“I’m honored and humbled by this opportunity, and I’m eager to work with teammates known for their drive, determination, and innovation to maintain and grow success at UFP Industries,” Schwartz said. “I’m grateful to Matt for taking on a role that will help guide the team and create a strong, seamless transition, to Mike for the new role he is taking on to further strengthen the team, and to both of them and the board for the trust they are placing in me and the leadership team to take UFP to new levels of value creation. We’re ready and excited for the opportunity.”

Schwartz “epitomizes a leader who is dedicated to making our company better every day and to maintaining the strong culture that fosters continuous improvement,” Missad said. “Under his leadership, UFP will continue to drive shareholder value and create more opportunities for growth and success.”

UFP Industries (Nasdaq: UFPI) is the holding company for subsidiaries that produce and distribute products for residential and commercial construction, packaging and other industrial uses globally. The corporation in July reported $3.54 billion in sales through the first half of 2024 with $247.3 million in net income, or $4 per diluted share.

UFP Industries Inc. is headquartered in Grand Rapids Township.

| COURtESY PHOtO

Kevin Venet Director of Compensation Michigan State University

Dominick Pallone Executive Director Michigan Association of Health Plans

Jay Ofield Partner SymplBenefits

Danielle Barrieau Principal Analytic Advisor Artemis by Nomi Health

Matt Missad William Schwartz

Muskegon County aims to revive airport with $23M upgrades

By Rachel Watson

The Muskegon County Airport is undergoing significant upgrades that officials say will “rebirth” the regional airfield where passenger numbers have dropped by more than 60% since 2019.

The airport, which is owned and operated by Muskegon County and located at 101 Sinclair Drive in Norton Shores, is undergoing a $3 million terminal renovation that is expected to wrap in December. Next spring, it will launch a $20.3 million project to relocate the taxiway.

The airport will remain open throughout both projects.

Together, the efforts are meant to help rejuvenate the 95-year-old airport, which currently offers five daily commercial commuter flights to Chicago and sees anywhere between 50 and 150 daily flights from private aircraft and student pilots.

“This is part of our larger effort to modernize and provide a rebirth to this airport,” said Ken Efting, Muskegon County Airport director. “We’re taking all of the passenger feedback that we received over the last decade and using it to mold what we think the traveler wants to see here in Muskegon.”

Efting said the airport hopes to

increase the quality of the passenger experience through the projects. Earlier this year, the airport also rolled out free day and overnight parking as part of that effort.

The airport also is working on a plan to secure a new airline service provider to increase its passenger capacity and flight reliability.

The terminal where passengers board and disembark will get a new roof, front facade, entryway, carpet, bathrooms and a new restaurant to enhance the traveler experience.

“We’ve already bought all new equipment (for the restaurant), and we’re just waiting for the roof project to wrap up so that we can get started on it without dust from drywalling and everything else going on,” Efting said.

The airport’s previous restaurant, The Brownstone, closed in 2016 and was never replaced. Muskegon County will seek a new tenant for the space once the restaurant is built out.

The terminal project is being funded by $800,000 from Muskegon County’s airport budget and two separate allocations of $1.01 million apiece from Michigan’s allocation from the federal Infrastructure Investment and Jobs Act of 2021.

Colliers Engineering & Design in

Grand Rapids is the architect on the terminal projects, and Gaines Township-based CarbonSix Construction is the general contractor. Following the building upgrades, the airport will shift focus to an airfield project. The taxiway that allows planes to move between terminals, parking areas and runways is too close to the runway based on current Federal Aviation Administration standards, and will be relocated about 75 feet southeast, Efting said.

The project will involve removing the existing 6,500-foot taxiway, its runway connectors and all existing lighting, navigational aids and underground utilities. The taxiway and its systems will then be reconstructed farther away with all new infrastructure and connectors.

The taxiway project is being funded by about $19.3 million in FAA grant funding and about $507,500 apiece from Muskegon County and the Michigan Department of Transportation’s Office of Aeronautics.

Muskegon County has not yet selected contractors for the taxiway project but plans to seek bids in February, Efting said.

Alongside the upgrades, the Muskegon County Airport also is

working to secure a new airline service provider.

Pending U.S. Department of Transportation approval, the airport will replace Southern Airways Express with Denver Air Connection. The former offers nine-seat commuter planes through agreements with American Airlines, United Airlines and Alaska Airlines, while the latter runs 50-seat jets via American, United and Delta Airlines.

After the switch, the airport will offer fewer flights per day but will increase the number of passengers that can fly out because of the larger jet size, Efting said.

During the pandemic, Muskegon County Airport lost its previous airline service provider, SkyWest Airlines, and switched to Southern Airways.

Efting said the switch caused ca-

pacity and reliability issues, and the airport subsequently saw its passenger numbers plummet by about 64%, from 42,000 travelers flying in and out of the airport in 2019 to about 15,000 last year.

Muskegon is among the smallest of Michigan’s 15 commercial service airports. The airport’s 15,000 total passengers and 4,500 commercial passenger boardings last year were a fraction of Gerald R. Ford International Airport’s 1.9 million commercial enplanements in 2023 and Detroit Metro’s 15.4 million, according to estimated FAA data for 2023 released in June.

Muskegon County Administrator Mark Eisenbarth said the county hopes the airport upgrades and the airline switch will better support the needs of commuters and private pilots who fly into Muskegon for business and leisure.

Muskegon County Airport’s $3 million terminal renovation is part of multiple upgrades officials hope will help passenger traffic rebound. | COLLIerS eNGINeerING AND DeSIGN

Health care providers partner to broaden patient services

By Mark Sanchez

A new strategic partnership connects two Grand Rapids-based care providers that have brought to market new and disruptive health care models.

Under the arrangement, HealthBar LLC, which contracts directly with employers to provide primary and preventative care, will refer patients to the new RightCare Clinic when they need additional medical services. Emergency Care Specialists P.C.’s RightCare Clinic launched in July to bridge the gap in care between what’s offered at an urgent care center and a traditional hospital emergency room.

The partnership gives HealthBar another option to offer when referring people for care beyond what it provides, while RightCare Clinic gains patient flow and volume for the facility that opened last month.

“At its most basic level, it is two noncompetitors and complementary partners who are aligned in vision coming together to really offer services that complement one another,” said Dr. Todd Chassee, medical director at RightCare Clinic. “They (HealthBar) obviously have a good deal for direct-to-employer wellness and that entire market. From the RightCare side, we’re able to offer services that they don’t currently offer. When they identify patients who have acute health needs and who need a physical location with testing, that’s what RightCare is going to be able to offer to the HealthBar patients.”

Emergency Care Specialists, an emergency medicine practice that

staffs hospital emergency rooms, opened RightCare Clinic on July 8.

The clinic, located at 743 East Beltline Ave. NE, offers medical services focused on urgent and preventive care and chronic disease management. Services include medical imaging — X-ray, CT, and diagnostic ultrasound — diagnostic labs and cardiac monitoring that urgent care centers lack. If patients require a higher level of care for their conditions, the clinic refers or transfers them to a hospital.

RightCare Clinic opened with low volumes in the early weeks and has been meeting expectations with “a nice steady uptick week over week,” Chassee said. “Things are definitely on an upward trajectory in terms of patient volumes.”

The clinic as of last month averaged up to 30 patients a week, some of whom come in because they can’t get a timely appointment with their doctor or for a medical imaging scan, he said.

The referral deal with HealthBar is “the first of many” that RightCare Clinic hopes to form, said Chassee, who expects to see care providers increasingly forming similar strategic partnerships.

“As I look at West Michigan over

the next couple of years, we’re going to see a lot of these partnerships formed to provide health care that the patients need and that they desire,” he said. “It’s just partners who do slightly different things trying to get the best care for patients.”

Founded in 2020, HealthBar contracts to provide nurses for school districts across Michigan and works with employers to staff

workplace medical clinics using RNs and nurse practitioners. Last year, the company added a concierge medical service that provides subscribers unlimited access and time with a primary care provider for a monthly fee. HealthBar currently works with nearly 40 companies with self-funded health plans across the state. The companies contract di-

rectly with HealthBar for primary and preventive care for about 12,000 employees and their dependents, with more expansion on the horizon.

“We’re poised to grow quite a bit more than that into next year,” said Mike Lomonaco, director of sales and marketing. The company remains on track to register about 80% growth in 2024, and 2025 “is looking much the same, if not more,” he said.

HealthBar’s arrangement with RightCare Clinic “offers us a huge opportunity to continue to not only shift utilization, but lower costs for our employers,” Lomonaco said.

“It’s another arrow in the quiver for us in our referral partnership,” he said. “When things fall outside of our scope for primary and preventive care, having partners like the RightCare Clinic that we can refer to and can ensure that our patients are getting outstanding care at a great price is a huge win.”

The partnership with RightCare clinic is the latest that HealthBar has formed within and outside of Michigan with independent medical practices and organizations, Clinical Practice Manager Adam Sevensma said.

The arrangement can help to make HealthBar more appealing to prospective clients and continue to build the business.

“Anytime we can help streamline accessible, low-cost and high-quality options with our business customers, it only adds to the value that HealthBar brings to the table outside of our standard comprehensive programs,” Sevensma said.

Priority Health offers free virtual doctor visits to uninsured

By Mark Sanchez

Priority Health will cover the cost of a virtual doctor visit through the end of 2024 for Michigan adults who lack health insurance.

Beginning last month under a partnership with San Francisco-based telehealth provider Curai Health, Grand Rapids-based Priority Health began offering unlimited free primary care virtual visits for uninsured people in Michigan through Dec. 31. In doing so, Priority Health “seeks to address delayed care and poor health outcomes that can result from the lack of health coverage,” according to a statement on the Curai Health partnership.

The 1.3-million-member Priority Health also wants to “actively promote access to care, steps to achieving health equity and cost savings for the uninsured population and the health care system.”

“Oftentimes people who are uninsured don’t consider getting care and conditions go unchecked and get worse,” Priority Health President and CEO Praveen Thadani said in a statement. “By offering this first step — a free virtual visit option — we hope to remove some of the barriers that prevent

people who are uninsured from getting the care they need and deserve. This service is one way we can help improve the health and well-being of our state.”

Statewide, Michigan compares favorably to the rest of the nation for the number of residents without health coverage. In 2023, 4.5% of the state’s more than 10 million residents were uninsured, versus 8.5% for the entire nation, according to the most recent America’s Health Rankings report by the UnitedHealth Foundation.

That equates to about 400,000 people in Michigan 18 years and older who are uninsured, according to the report.

Through the partnership with Curai Health, Priority Health aims to have 2,000 or more people access a virtual visit with a physician to discuss their health or problems they’re experiencing, said Rick Abbott, Priority Health’s senior vice president for employer solutions.

Abbott expects many people who use the service will have a minor medical condition such as the flu or sinus infection that’s readily diagnosed in a virtual visit so a doctor can prescribe a medication.

For people who may have a

chronic illness, the free virtual visits allow them to get checked out by a doctor. Priority Health can then direct them to organizations and resources so they can access ongoing care and manage their conditions, Abbott said.

Quite often, people who are uninsured avoid seeking care because they can’t afford it. If their condition worsens, they may end up in a costly hospital emergency room or urgent care center.

“What we wanted to do was just

provide at least an entry point into the health care system,” Abbott told Crain’s Grand Rapids Business.

“At least, we’re going to provide them the ability to be diagnosed if it’s more of a virtual urgent care visit, or to build some sort of a care plan that they can follow. To the extent that we can, (we will) provide them any local, community-based resources or health care resources that might be available to them to at least try to get them

to the right place,” he said. “Will we be able to solve everything? No, but we at least can give people an entry point to get some level of care and hopefully get on the right track.”

The free virtual visits offered through Curai Health do not include the cost of medications a doctor may prescribe, or diagnostic tests or the cost to see a medical specialist.

Priority Health has no plans to continue the free virtual visits for uninsured persons into 2025. The health plan will analyze the program’s results.

“If we’re reaching the people we want to reach and the actual outcomes that we’re hoping to drive around greater access and things like that come to fruition, we obviously will look at what we can continue to do (and) whether this program specifically as structured will continue past the end of the year,” Abbott said.

The free virtual doctor visits are the first component of Priority Health’s partnership with Curai Health to expand the use of virtual care and “marry that, in an appropriate manner, with brick-andmortar care,” Abbott said.

“We’re going to continue to invest in telehealth,” he said.

Priority Health hopes to remove some of the barriers that prevent people who are uninsured from getting the care “they need and deserve.” | COURtESY OF PRIORItY HEALtH

RightCare Clinic opened in July at 743 East Beltline Ave. NE, offering medical services focused on urgent and preventive care and chronic disease management. | COURtESY PHOtO

CT scan room at RightCare Clinic. COURtESY PHOtO

Todd Chassee Adam Sevensma

Businesses want changes to paid sick leave law

By David Eggert

Business groups proposed five key changes to Michigan’s new paid sick leave requirement before it takes effect in five months, saying they would ease businesses’ ability to implement the law.

In a virtual “town hall” with their members, officials from the Michigan Chamber of Commerce, the Detroit Regional Chamber and the Grand Rapids Chamber discussed the ramifications of a recent state Supreme Court ruling that reinstated 2018 sick time and minimum wage laws, effective Feb. 21. Republicans enacted them when they were ballot initiatives and watered the laws down to be more business-friendly over Democrats’ objections.

The proposals outlined would:

w Exempt employer plans that meet or exceed a requirement to provide up to 72 hours of paid medical leave.

w Exempt small businesses from the mandate along with part-time, seasonal and certain other workers. The organizations did not float a definition of small business.

w Require time to be used in full- or half-day increments (not smaller blocks) and let employers require advance notice.

w Eliminate an employee’s right to sue and a rebuttable presumption of retaliation if adverse action is taken against an employee within 90 days of the use of sick time.

w Allow employers to frontload 72 hours at the start of the year rather than having employees accrue it throughout the year.

“When we talk to legislators, they all nod their head and say, ‘These seems reasonable.’ But … when you talk to organized labor, even if they view these changes as reasonable, they view these as changes that were won at the ballot box and things that need to be negotiated. They’re going to want to extract something for it,” said Brad Williams, vice president of government relations for the Detroit Regional Chamber.

Unions, he said, view the restored laws “as tantamount to changes won at the bargaining table. So to have Democrats to vote this legislation needs to be something that is worked through with organized labor. It’s not simple. … That’s why your voice matters.”

The goal, he said, is to “get some forward momentum” in the Democratic-led Legislature before the end of October. Changes, if any, may not be finalized until after the November election. Democratic legislative leaders have been tightlipped on the issue.

“This gets more difficult in a lame-duck session because more legislation gets thrown into the ring,” Williams said.

In the Aug. 28 Zoom event, business lobbyists answered questions that poured in from frustrated employers, talked about efforts to lobby lawmakers and Democratic Gov. Gretchen Whitmer to revise the laws, and urged participants to contact their legislators directly. More than 600 people participated.

“A lot of us … your local chambers are doing the work to educate

lawmakers. But we can’t do it unless everyone on this call and other chamber members and other businesses across the state make their voice heard. I know that’s a common thing we talk about a lot, but it will make a difference,” said Josh Lunger, vice president of government affairs at the Grand Rapids Chamber.

Many of the questions were about the earned sick time law, which will require every employer with at least one employee (except the federal government) to provide paid medical leave — up to 72 hours at places with 10 or more workers and up to 40 hours with fewer than 10 workers. The law that was struck down exempted employers with under 50 employees. Those above that amount have had to offer up to 40 hours of paid sick time.

Questions included whether frontloading medical leave will be allowable and if companies will still be able to offer one paid time off bank.

Wendy Block, senior vice president of business advocacy for the Michigan Chamber of Commerce, said there are different interpretations on frontloading. Most employment lawyers the group has talked to believe it will not permitted while the state Department of Labor and Economic Opportunities thinks it will be allowed.

Block urged employers to consult an attorney before proceeding, saying LEO’s interpretation is very helpful as it relates to an employee filing a complaint with the state but not if the worker files a lawsuit.

“This is why we’re seeking legislative changes frankly. We don’t want there to a lot of gray areas and we don’t want to find out in court that LEO’s interpretation wasn’t right and that a judge doesn’t agree,” she said.

The reinstated law, however, says a business will be in compliance with a single bank but only if it is OK with not getting advance notice of non-sick days, like vacation days, she said.

“We believe that it will force many employers to decide to separate out sick time from vacation time,” Block said.

The new law will let an employer request notification for sick time if it is “foreseeable.” If it is not foreseeable, the employee will have to give notice “as soon as practicable.” The issue is likely to be litigated if it takes effect, she said.

“The unemployment law treats three days no-call, no-show as a

voluntary quit. We would like to see similar language here. We’d like to see employers actually frankly be able to have their own notification procedures or normal and customary notification procedures remain in place. That’s what the Paid Medical Leave Act allows,” Block said. “So we’re trying to find a solution on this. But this idea of employees just kind of being able to have a pass and to ghost their employer for multiple days on end and for the employer not to be able to take any action or discipline against the employee is just outrageous.”

Other issues include whether independent contractors are covered, what pay rate should be made for sick time, how to calculate leave for temporary workers at staffing agencies who do different jobs within a year and if the law covers out-of-state employees.

David Eggert is a reporter for Crain’s Detroit Business.

Former Burmese refugee acquires Wyoming apartments

By Rachel Watson

A former refugee who came to Michigan with $20 to his name is now the owner of a 40-unit apartment complex in the suburban Grand Rapids market.

Vung Mang, a Realtor with Wyoming-based Blue Beacon Brokerage, in July acquired the 40-unit, four-building Gardentown Apartments at 1845 30 St. SW in Wyoming for just more than $3.2 million, or about $80,188 per door.

Built between 1966 and 1968, the property’s four buildings house nine one-bedroom units and 31 two-bedroom units over a roughly 3-acre parcel. The complex was 90% occupied at the time of closing and is now fully leased, Mang said. Mang plans to invest significant capital on both interior and exterior renovations.

“It’s a value-add property,” he said. “It needs a lot of work, and I got some concessions from the seller. That’s how I wanted it because that way I (can) create equity (sooner).”

The seller was Newport Beach, Calif.-based Gardentown Apts LLC, which is registered to Earl McHugh, according to state filings.

Shawn Jacobs, of Grand Rapids-based Moxie Real Estate and Development, represented Mang in the deal, which closed July 12.

Chase Gilewski, Chris Futo and Steve Chaben, brokers at the Detroit office of Marcus & Millichap, represented the seller.

Following renovations, Mang said he plans to raise rents from $750-$800 for the one-bedroom apartments to about $1,100, and from $1,000 for the two-bedroom units up to $1,300-$1,350.

He has hired Wyoming-based Compass Property Management to manage the property.

Mang financed the deal through a combination of debt financing from Detroit-based commercial banking firm District Capital and a reverse 1031 property exchange in which he put the proceeds from the sale of 10 other single-unit and duplex properties he owned in the Grand Rapids area toward the Gardentown Apartments purchase.

The seller of Gardentown also rolled some of the proceeds of the sale into another acquisition via a reverse exchange, a deal structure that allows capital gains taxes to be deferred.

“It was an interesting transaction because usually only one party satisfies a 1031 exchange,” said Gilewski, of Marcus & Millichap. “In this case, both parties were able to satisfy exchanges, which makes it kind of unique.”

Gilewski said the seller and his partners were “very happy” with

the deal.

“They were at a crossroads,” he said. “It was either let the property go and help satisfy their exchange, or put a lot of dollars into the deal, and they decided to do the first option.”

Mang emigrated to Michigan from Myanmar in 2008 as a refugee with just $20 in his pocket. He first worked as a case aide and translator for Bethany Christian Services while selling insurance on the side.

He said his career took an unexpected turn into real estate about 11 years ago.

As an entrepreneur who is fluent in English, Mang kept getting requests from his non-English-speaking Burmese neighbors in Kent-

wood to help them meet their homeownership goals.

“They all started wanting to buy houses, and then about six people got together and said, ‘I want to buy a house with you. Can you become a real estate agent?’” Mang said. “I said, ‘Wow, OK. If you guys are waiting for me like that, then I will do it.’”

He started working as a parttime Realtor in 2013 and built a book of business by helping Burmese families buy homes, maintaining a relationship with them until they were ready to sell. Within five years, he was able to quit his other jobs and work as a Realtor full time.

Mang, who came here on his

own but now has a family to support, said he worried what a real estate market downturn could do to his financial security. One day while listening to the Rich Dad YouTube channel by “Rich Dad Poor Dad” author Robert Kiyosaki, he had an epiphany that he needed to find a way to make passive income.

“So I started buying properties,” he said. “I bought six single-family (homes) since 2018, and then by 2021, after the sixth single-family (home), I bought duplexes, which are a little bit better with cash flow.”

Not content to stop there, he decided to scout for multifamily deals, which is when he heard about the opportunity to buy Gardentown Apartments.

“I have no other investors, just me, and this was a tough deal, the toughest one I’ve done,” he said. “Me and (my) agent, we tried a lot of different ways to make this work and make everyone happy. And finally, we made it happen. It was tough, but now I know how to prepare for the next time.”

Mang said he plans to continue his job as a Realtor with Blue Beacon Brokerage, founded by Ryan Prichard a year ago, while also continuing to acquire and improve additional multifamily properties.

“I want (to own) 1,000 units within five to 10 years,” he said.

Vung Mang acquired the 40-unit, four-building Gardentown Apartments in Wyoming for just more than $3.2 million. | COURtESY

Employers are frustrated with revisions to the paid sick leave requirements. GEttY ImAGES

COMMENTARY

Make inclusive technology an economic priority

When it comes to inclusion, society has historically framed the discussion in terms of a charitable cause. Institutional leaders in education, health care and government have made the case that inclusion is worthy of support because it is the “right thing to do.” Some have taken it a step further and pointed out that inclusion can save money by reducing costs on mental and physical health.

Good start.

More recently, however, the conversation is changing, led by voices coming from the private sector. They ask: can inclusion make money? Can it stimulate economic growth? Are we missing a viable, vertical market?

The answer is, yes. The data is in. And in our increasingly digital world, technology is driving it.

First, let’s quantify the labor impact.

According to U.S. Labor Force statistics, the unemployment rate for people with disabilities stands at 7.2%, more than twice the rate for those without disabilities. More concerning, three-quarters of people with disabilities are not in the labor force at all, compared to only onethird of those without disabilities. These aren’t just statistics. They represent millions with valuable skills and perspectives, eager to contribute to our workforce.

A recent Accenture study found that companies that prioritize disability inclusion — specifically putting an emphasis on tech support — see a remarkable 28% increase in revenue. This statistic suggests that businesses investing in disability inclu-

sion are capitalizing, boosting revenue by more than a quarter — significant ROI.

Next, let’s quantify the marketplace impact.

The American Institutes for Research reports the amount of after-tax disposable income for working-aged people with disabilities in the U.S. is nearly $500 billion. Just imagine what it would be like if the unemployment rate improved! But don’t stop there. When you include the 3.4 billion friends and family members of people with disabilities, your company can potentially tap into substantially large new audiences that are usually left out from the economy due to inaccessible tech experiences.

Alas, however, the Valuable 500 — a global business collective made up of 500 CEOs and their companies — found that 33% of organizations have not even started exploring inclusive design innovation opportuni-

ties. Case in point, according to a 2022 report from Forbes, e-commerce retailers lost approximately $828 million during the 2021 holiday season because of poor accessibility on their websites.

All that said, it’s the tip of the iceberg. Our efforts need to go beyond the digital space. What about looking more broadly at how tech can support the built environment?

At the Special Olympics Michigan Unified Sports & Inclusion Center in Grand Rapids, we are cracking that code with the help of design experts in architecture, engineering, interiors, graphics, furniture and technology. The result? An inclusive ecosystem.

When we embarked on a $20 million renovation of a 130,000-square-foot former high school, our plan was to simply own our own sports facility to increase access for our athletes. It ended up becoming way more than replacing floors and fields. We

have completely rethought every aspect of how the building functions. There is no place where that is more evident than technology. This ranges from tech-supported wayfinding systems to AI-driven presentation configurations in meeting rooms, to augmented reality activations for education, as well as partnering with The Sphere Las Vegas sound designers to create controllable sensory experiences in our auditorium. We have become a learning lab. Each of our design and product partners sees two things in us — a way to grow the labor force and an untapped vertical market with real value.

So, what’s stopping everyone from fully embracing inclusive technology? The potential for innovation, economic growth, and societal progress is clear. It’s time for businesses and organizations to recognize that inclusive technology isn’t just a moral imperative — it’s a strategic advantage in today’s competitive landscape. Input is just the beginning. We need decisive action: w Prioritize accessibility in technology budgets

w Incorporate inclusive design principles in workplaces using direct stakeholder feedback

w Intentionally recruit and retain workers of all abilities

For too long, our society has merely worked around people with disabilities, creating temporary fixes rather than permanent solutions. It’s time to shift our focus and resources toward solutions that people with disabilities themselves identify as necessary. Inclusive technology isn’t charity, it’s smart business. It’s not an option, it’s a necessity. Rather than viewing it as an expense, we must recognize it as an investment in our collective future. Tomorrow’s most successful organizations will be those that design for all abilities today.

Lawmakers must adjust paid sick leave mandate

Michigan small businesses will soon face the challenges of implementing the state’s new paid sick leave law in February 2025. The best intentions from elected officials have created an unforgiving regulatory “maze,” creating onerous burdens for our small business ecosystem that is the foundation of our economic recovery and future growth.

At Axios HR, we’ve always believed in building fair, healthy, balanced and equitable workplaces. In fact, that is one of our principal tenets and is central to how we operate and the advice we give to our clients. However, the impact of paid sick time on small businesses and their ability to operate in Michigan is a matter of more profound concern, even if the result would be as economically positive as its proponents claim. The law requires businesses with 10 or

more employees to provide up to 72 hours of paid sick leave per year, while smaller firms must offer up to 40 hours. On the surface, this seems like a win for workers. Yet, the devil is in the details, and those details are proving to be a significant burden for employers. The biggest issue is the complex structure of the new rules. It’s confusing for confusing’s sake. The law will create a host of administrative burdens small businesses are unprepared to tackle. The accounting of accruals required is complicated. Written verification of absences more than three days is no longer allowed. Accrued time must be earned at a rate of 1 hour for every 30 hours worked. Flexibility is crucial in today’s dynamic business environment. It allows companies to adapt their practices to changing conditions and competitive pressures. This man-

date’s one-size-fits-all approach reduces this flexibility, potentially hampering businesses’ ability to respond effectively to market demands and employee needs.

These policies will also require additional administrative work and resources to implement and track. This might be an easily baked-in cost for larger companies; however, small businesses tend to run on a thin margin and may be unable to comply with these orders without painful tradeoffs.

These trade-offs could include employers choosing to lower their total workforce to offset the costs of the mandate — or cutting other potentially more valuable employee benefits to accommodate the necessary amount of paid sick leave in a given budget.

It’s also worth noting that many businesses already offer generous paid time off policies that exceed the new requirements. Ironically, these employers may now need to separate vacation time from sick time and implement more rigid tracking sys-

tems, reducing their employees’ overall flexibility.

We question whether this mandate is the most effective way to achieve its intended goals. We encourage businesses to utilize resources like the Small Business Association of Michigan (SBAM) to help them understand and implement these new requirements.

In the months before enforcement, we must ask our legislators to tweak the law to lighten the administrative burden on small businesses while still affording workers substantial protections. A more nuanced approach to scheduling could afford workers a more flexible fabric of rights, in which each industry and each company’s needs are considered.

While the path forward may be challenging, we believe in the resilience and ingenuity of Michigan’s business community to find ways to thrive, even in the face of these new regulatory challenges.

Jeremiah Mostrom is chief revenue officer at Axios HR in Grand Rapids.

Jen VanSkiver is chief officer of strategic growth for Special Olympics Michigan.

How did ArtPrize get its start?

ArtPrize was created by Amway scion Rick DeVos in 2009 and featured public voting and prizes. The original event took place across 159 venues with more than 1,200 artists, according to local reports.

What are the prizes?

More than $600,000 in awards and grants are presented during ArtPrize. ArtPrize winners are determined by public voting and a juried award process by a panel of expert judges. The public votes on the $125,000 grand prize award.

Additionally, the public and juries each choose a winner for $10,000 across six categories. Other awards include the $10,000 Artist to Artist and Outstanding Venue Awards.

How can people vote?

Voting will be open for ArtPrize attendees age 13 and older. All voting will take place via mobile devices. To cast a vote, attendees can scan a QR code associated with the entry or by entering a five-digit code in the voting web app, according to the ArtPrize website. Votes must be cast within the ArtPrize District.

Who funds ArtPrize?

ArtPrize is a nonprofit organization that fundraises year-round. The fundraising covers the operating budget, including prizes awarded during the competition, with many contributions from corporate organizations, foundations, individuals and government grants.

Additionally, individuals can become ArtPatron members of ArtPrize, a newer donation system, Osgerby said. The ArtPatron tiers range from $75 to a $2,000 Platinum membership and gives members access to exclusive ArtPatron events.

How has the event changed?

ArtPrize was founded by DeVos, who served as chairman of the event until 2022 when he dissolved the former organization and shifted the assets to the current partners.

The city of Grand Rapids, Down-

town Grand Rapids Inc., and Kendall College of Art and Design of Ferris State University now partner to run ArtPrize.

“The partnership with Kendall College of Art and Design, the city of Grand Rapids and Downtown Grand Rapids Inc. has really fostered that kind of new era — ArtPrize 2.0 if you will,” Osgerby said. “It’s been definitely a new era of growth and exploration and we’re all very excited to take ArtPrize to new spaces and places and heights.”

How many people are expected to attend ArtPrize?

More than 1 million people are expected to attend ArtPrize this year, Osgerby said. Last year, the competition drew 1.6 million people from around the world to the ArtPrize district, according to an annual report from the organization.

ArtPrize creates exposure for the city that extends beyond the event, said Rick Winn, president of AHC Hospitality, which manages five hotels in downtown Grand Rapids, including the Amway Grand Plaza. Winn said the hotels have been participating in the event since its inception and this year will host around 40 pieces across its venues.

“Everything starts with a visit … then you want to come back, then maybe you want to work there, then maybe want to live there,” Winn said. “So it’s something that generates much, much more than just, you know, a single room of occupancy.”

How many artists and venues are participating?

Some 950 artists are participating in ArtPrize, spanning 165 venues across the city. The venues host art in outdoor spaces, museums, shops, restaurants, bars and more.

How are the venues and the art chosen?

Venues apply to host artist installations during ArtPrize. To create a partnership between businesses and artists, ArtPrize staff do not choose where art is placed; rather, businesses and artists go through a “connections process,” Osgerby said.

During the connection process, venues communicate with artists to discuss what art they would want to host. This allows venues to curate their space and artists to envision their pieces there, Odgerby said.

Oh, Hello Co. Paper and Gifts has been participating in ArtPrize since 2021.

Benda, who opened its brickand-mortar location at 40 Monroe Center St. in January 2020, was inspired to establish his business in downtown Grand Rapids after attending ArtPrize.

Oh, Hello Co. Paper and Gifts is hosting eight artists in its space this year. Benda said the business typically chooses local artists who work with paper, to match the products in the store.

COMPANIES / PEOPLE ON THE MOVE

BANKING & FINANCE

First National Bank of Michigan

FNBM is pleased to announce the appointment of Tim Hoekstra as VP, Commercial Banking. Hoekstra will focus on building banking relationships in the greater Kalamazoo and Portage areas and comes to FNBM with over 22 years of experience in commercial banking. “I’m excited to return to such a strong community bank,” said Hoekstra. “I look forward to assisting local business owners while continuing to provide the exceptional customer service FNBM is known for.” Hoekstra is a WMU graduate.

BANKING & FINANCE

Grand River Bank

BANKING & FINANCE

Mercantile Bank

Grand River Bank is pleased to announce the promotion of Drew Ysseldyke to President & CEO, completing a transition process that began in April 2023. Drew is a West Michigan native with nearly 30 years of corporate banking experience and a highly successful leader. He succeeds Pat Gill, who has served as CEO since 2012 and will continue as an advisor and board member. “I’m grateful to have been a member of this outstanding team for the past dozen years and pleased to pass the baton to Drew.” said former CEO Pat Gill. Robert Bilotti, Chairman and CEO of Grand River Commerce, Inc. said “We are grateful to Pat for his many valuable contributions and we are excited about this opportunity for Drew to renew our commitment to West Michigan.”

Mercantile Bank is pleased to expand its Lakeshore team with the addition of Kevin Phillips as Community Bank President. Bringing over 30 years of commercial banking expertise, he will lead a team of commercial bankers providing unparalleled service to businesses along the Lakeshore. Phillips is a trusted advisor to his clients, helping them to increase the value of their businesses, and is committed to serving his community. In his free time, Phillips enjoys aviation and is a licensed pilot.

Where can people park and how can they get around?

ArtPrize is intended to be a walkable event, experienced over many days, according to the event website.

Parking is available throughout the city and attendees can plan their visit with an interactive parking map. The map shows parking rates, ramps and nearby public transportation, including the free Downtown Area Shuttle (DASH) and The Rapid bus service. Additionally, Lime E-Scooter and E-Bikes can be rented throughout the city.

What’s new this year?

More than 60 events are happening during ArtPrize, including new ticketed experiences.

“Balance,” a new ticketed experiential brunch, will take place on Sept. 28 on the Blue Bridge, Osgerby said. Attendees will be able to talk with past and present ArtPrize winners, experience a performance from the Grand Rapids Symphony and partake in a carriage ride, according to the ArtPrize website. Tickets, at $250 each, are limited to 50 guests, with all proceeds supporting ArtPrize funding.

Additionally, many free events will include live art installations, dance showcases, music and more. A complete list of events can be found on the ArtPrize website.

Advertising Section

To place your listing, visit https://www.crainsgrandrapids.com/ people-on-the-move/ or, for more information, contact Debora Stein at 917.226.5470 / dstein@crain.com

ENGINEERING

Spalding DeDecker

Spalding DeDecker, a leading civil engineering, landscape architecture, planning, and surveying firm, has hired Doug Lansky, PS as a Senior Survey Project Manager in its Grand Rapids office. Doug brings more than 33 years of expertise, specializing in remonumentation, ALTA/NSPS Land Title, boundary, and condominium surveys. Doug’s portfolio spans urban infrastructure to natural recreational projects, MDOT road design, and construction surveys.

NONPROFITS

Kent District Library

Kent District Library is pleased to welcome Craig Buno to his new role as Community Engagement Manager. He will support system-wide KDL outreach including innovation, budgeting and training. Buno has worked at KDL for 14 years in various roles. He was the Branch Manager at both the Nelson Twp. and Walker Branches. Most recently, he spent four years as the Regional Manager 2 for the Walker, Alpine Twp. and Tyrone Twp. Branches. He earned his MLS degree from Wayne State University.

Visitors at a 2023 ArtPrize installation.

KAte CArLSON

M AK E AN ANN OU NCEMEN T Debora Stein / dstein@crain.com Crai ns Gra nd Rap ids .com/ POTM

retiring in May 2023. After a Bank of America official reached out to gauge his interest, Harrison decided to leave retirement to lead Bank of America Private Bank’s new Grand Rapids office, located at 250 Monroe Ave. NW in downtown.

Since joining Bank of America Private Bank last fall, Harrison has been steadily building a foundation in Grand Rapids. The private bank intends to add staff at the Grand Rapids office as it grows a book of business locally, he said.

“We’re ramping up and just getting ready to go,” he said. “We’re now able to service clientele out of West Michigan and we’re looking to expand and grow responsibly.”

RIVERTOWN

intelligence is better than us,” Poag said. He declined to disclose the purchase price.

Poag Development started looking at the RiverTown Crossings property in the first half of 2023, and worked on closing the acquisition for the last 12-15 months. Poag’s first trip to the area was in the summer of 2023, he said.

“It always comes down to location, that’s real estate 101,” Poag said. “Going up there last summer, we toured the market and understood where it was growing and we really liked not only the metro area but we also really liked Grandville, its growth and how professional and intentional the city has been in envisioning the future of Grandville.”

While Poag is still working out the details of the redevelopment plan for RiverTown Crossings, the expansive surface parking on site is one of the areas that will likely see some changes, he said.

“One of the main things we see

Bank of America Private Bank had more than $600 billion in assets under management at the end of 2023, and offices in 41 markets across the U.S. that provide wealth management services to clients, including high-net-worth individuals, family offices and philanthropic organizations. Services include wealth planning, trusts and estates, asset management, portfolio construction, and real estate financing.

Bank of America Private Bank serves clients with a minimum of $3 million in investable dollars, “but we’re typically looking to upscale that here,” Harrison said.

In extending the private bank into Grand Rapids, Bank of America looks to tap into a vibrant economy that’s creating a larger potential client base.

in malls like this that were built 25 years ago is the parking standards were different, so there are seas of parking,” Poag said. “Adding new uses, whether that’s retail, hotel or residential, we intend to densify the site some.”

The surface parking areas have the most value out of the whole property, according to Mike Murray, retail adviser at Grand Rapids-based Advantage Commercial Real Estate.

“There are other restaurants and retailers that want to be in this area, but there is no place for them to go and have their own building,” Murray said. “The parking lots have the most value to start with redevelopment and bringing in new uses while they tackle the mall.”

RiverTown Crossings opened in 1999 and currently has five anchor stores: Macy’s, Kohl’s, JCPenney, Celebration Cinema and Dick’s Sporting Goods. Real estate experts believe the Macy’s in RiverTown could be on the chopping block as part of the department store’s plans announced in March to close 150 stores nationwide over the next couple years. Poag said he has not received confirmation on whether

contain carbon dioxide, a larger molecule.

“Grand Rapids is one of the fastest growing economies in the U.S.,” said Renee Tabben, Grand Rapids market president for Bank of America. “With that growth of the economy comes the growth of wealth.”

As well, Bank of America is a “global company” with “global resources,” Tabben said, “but what we’ve come to learn and know about West Michigan is that people value a local face.”

An entire generation of baby boomers who will eventually transition their assets, as well as aging entrepreneurs exiting their business to retire, also create an unprecedented wealth transfer in America, driving the demand for wealth-management services, Tabben said. She calls opening the private bank office “another

the RiverTown Macy’s, which owns rather than leases its space, is on the closure list.

Poag Development is working to lease mall space with JLL, the developer’s strategic management and leasing partner. Leasable space at RiverTown is 88% occupied, according to information provided by Poag Development.

Jonathon Bryant, who purchased the former Younker’s site at the mall in October 2022, is working on redeveloping the space into multiple storefronts. The Grandville City Council approved a commercial rehabilitation district for the project at its May 13 meeting this year. Poag said he is supportive of Bryant’s plan and has met with him since closing the acquisition with Brookfield Property, he said.

The RiverTown Crossings deal comes two years after the sale of another Grand Rapids-area mall. The Shops at CenterPoint, whose footprint is about half the size of RiverTown, sold in an August 2022 off-market deal for $63.5 million.

Meanwhile, the core of the mall is now owned by Poag, but several of the anchor stores have separate

step” in building Bank of America’s presence in the Grand Rapids market.

The Private Bank differs from Bank of America’s Merrill Lynch Wealth Management that Tabben also leads in the market. While clients may use both, the private bank tends to serve people and institutions with more complexities in what they need in wealth management, Tabben said.

Bank of America does not have “a set amount where you stop being served by Merrill and you start being served by the private bank,” Tabben said. Having the private bank office in Grand Rapids complements Merrill Lynch and gives Bank of America a fuller continuum of services for clients as their wealth grows and how they manage their assets evolves as they

owners and associated parking lots. Additional restrictions are put on most malls, including RiverTown, such as not allowing residential or office uses unless owners on site agree to it, Murray said.

“I think they have a really long road ahead of them, but anchor tenants like JCPenney should be excited to see some new life here,” Murray said. “No matter what, it’s a good thing that the mall is changing ownership with someone pulling out their checkbook, but people will have to give them time to put their arms around this and figure it out.”

Murray hopes Poag is successful, but he expects it could be a year before redevelopment plans are rolled out, he said.

“They can’t just rely on trying to find tenants to fill it in as it sits today,” Murray said. “The redevelopment will have to bring in some entertainment-type uses and create a more public-friendly project.”

One of the biggest challenges about redeveloping the site will be contending with the multistory mall building, Murray said. Both floors need access points and light, and opening up an enclosed

age, she said.

“If we’re going to serve a growing population of people, we want to give them as many choices as possible,” Tabben said. “We have clients that use both. It doesn’t have to be an ‘or.’ It can be an ‘and.”

Bank of America estimates that the number of high-net-worth individuals in Grand Rapids who have $10 million or more in investible assets will grow “somewhere about 20%” over five years, creating a broader prospective clientele for the Private Bank, Tabben said.

While Green’s prior beverage industry experience is mainly concentrated in the alcoholic beverage sector, he said his interest in hydrogen-infused water came as a reflection of his increased focus on health and well-being as he grows older.

“I was always frustrated with the more acidic and bubbly sparkling waters that were available in the market,” he said. “I personally am really excited about the idea of launching what we call ‘sparkling 2.0,’ which is simply a lower acid, smaller bubble, softer bubble (sparkling water) so that you don’t get that burn and that bloat feeling when you drink it.”

As the New York Times noted in a report this year on hydrogen-infused water trends, hydrogen molecules are small and dissolve easily, creating a smoother sparkling drink with less of a fizzing sensation than seltzer or soda, which

Hydrogenated waters are slightly bubbly, zero-calorie beverages that have been touted for their health benefits, which drew both Green and Hartwig to the product.

The new oHy brand is a DBA of the business entity Water Barons LLC, suggesting that Green and Hartwig are betting on sustained growth in the sparkling water product category. Along those lines, a recent Fortune Business Insights report noted the market for sparkling water is projected to grow from $42.62 billion this year to $108.35 billion by 2032, led largely by ongoing health trends in the beverage industry.

That’s the market Green is hoping to capitalize on with the launch of oHy next year. He has a 30-year history of involvement in various alcoholic beverage brands and commercial real estate and development projects. His beverage industry credentials include co-founding Napa Valley-based Libby Wines, a producer of bub-

bled, low-alcohol wines, and serving as an adviser and investor in Long Drink, Papa’s Pilar Rum, Hemingway Whiskey, Dublin-based Natterjack Irish Whiskey and craft kombucha brand Better Booch.

Green, who also leads Revolution Farms as its CEO, and Hartwig started exploring the possibility of launching their own hydrogen-infused sparkling water last year, with a goal of making a product that will offer an easy-to-drink water at an accessible price point.

“Other hydrogen water products that are on the market right now … are three to four times the price point of our product,” Hartwig said. “We tried to find a way to produce hydrogen water efficiently at a cost that the consumer could actually afford.

“That was our best big task: To get out there in the marketplace and see if we couldn’t figure out how to work with partners to bring the cost down so that we could bring hydrogen water to the masses.”

Green noted that the company

has been able to license technology allowing it to produce hydrogen-infused sparkling water more cost-effectively than other brands on the shelf.

When oHy products hit the shelf in early 2025, consumers will be able to snag an eight-pack of 12-ounce cans for $7.99.

Hartwig said a core focus of the oHy brand is to present hydrogen water in an approachable fashion.

“We did not want to get too ‘sciencey’ and too cute with our messaging,” he said. “The idea that the product is less acidic and smoother-drinking when compared to other sparkling waters is a really good entry point for a lot of consumers. Our hope is you’ll see our product in the mainstream sparkling water aisle across grocery stores throughout every region of the country, right next to all the household names that we’re aware of.”

Their product is fully formulated, with the first oHy production run scheduled to take place in November at an undisclosed Hudsonville

mall like RiverTown is harder when it has multiple stores, he said.

Executives at Brookfield Property had previously discussed potentially redeveloping the mall over the years into more of a mixed-use building with office and entertainment uses. However, the mall’s complicated, two-story layout makes it harder to backfill and redevelopment space than single-story shopping centers. Poag Development has not yet completed a redevelopment project of a two-story mall, but the company is working to redevelop Oak Court Mall, which also has two stories, Poag said. Oak Court is located in East Memphis, Tenn., and is an enclosed, 800,000-squarefoot building. Poag purchased the mall complex for $14.25 million in December 2023.

Overall, Poag is excited about redeveloping RiverTown, which has “been a long time coming,” he said.

“We have finally gotten to the point where we can publicize it, have meetings and talk to tenants,” he said. “We’re running hard to get to the starting line.”

beverage manufacturer. The oHy brand intends to work with co-packers as the product grows.

“If that’s going to take place, then we have to have more local coverage, we have to have more local expertise,” Tabben said. “That’s what’s really driven us. We’re again going back to what’s happening in the local economy.” consumption.

For now, the founders are working to shop the brand to prospective retailers. Their initial plan is to launch oHy in smaller natural and organic food-focused retailers, with plans to scale the product nationally within the next five years.

The launch will include four flavors: lemon lime, strawberry lemon, raspberry and cherry lime, alongside an unflavored option.

While Green and Hartwig are the sole investors in oHy to date, Green intends to leverage his experience in the alcoholic beverage industry as the brand grows, bringing West Michigan investors into the business in the future.

“We really want this to be the next great business that comes out of Grand Rapids,” Hartwig said. “We’re looking forward to building a team, building the right culture around the brand, and having this be a sustainable business for many years, based right here in Grand Rapids.”

CORRIDORS

could produce more than 70,000 housing units countywide over the next 25 years, according to the preliminary findings ahead of the full study’s release this fall.

That’s double the number of forsale and rental housing units Kent County needs by 2027 to stabilize the local housing market, according to a report Housing Next published last year.

Housing Next hired its former executive director Ryan Kilpatrick, founder and CEO of Grand Rapids-based Flywheel Community Development Services, to help conduct the study.

“When we looked at the corridors, what we found is that well over 3,000 acres was either vacant or significantly underdeveloped,” Kilpatrick said. “Some of that acreage is commercial zoned, some of it’s zoned all kinds of random stuff, but on those corridors, there is plenty of land available that doesn’t have a building on it, but does have access to sewer, water, road, public transportation and all the rest. That’s a pretty big opportunity.”

Housing Next Executive Director Brooke Oosterman said the

DIVISION

Second Vibess opened in 2022 selling pre-owned clothing that’s been “upcycled” into new patterns to create sustainable reuses. The owners said they’ve experienced about a 20% fall-off in sales at Second Vibess since the construction project began north of Fulton. The project has since moved onto the stretch of road in front of their shop, which has caused sales to drop an average of 50%, and up to 70% on some days.

“Yesterday we only had one sale for the entire day and had a 99% decrease in sales. This is typically the busiest time of the year for us, and we are consistently seeing days slower than our worst days in winter,” Fitzpatrick and Steverson stated. “No amount of events or signage is going to make up for the loss of revenue we’ve experienced and will experience for the duration of this project.”

Tina Straight, co-owner of Rewind, a vintage shop located adjacent to Second Vibess, said the construction also has taken a toll on her business.

“We’ve had to do so many sales since this construction to try to drive business, and it has helped in so many ways, but we’ve had significant revenue loss from that as well,” she said.

Rewind has been contending with construction projects since it opened in early May.

The building at 25 South Division at the intersection with Weston Street, adjacent to Rewind, also has been undergoing a facade renovation to remove and replace exterior brick masonry.

The project requires scaffolding over the Division Avenue sidewalk, which Rewind said has also been

corridor study was designed to help municipalities and developers as they continue to grapple with reducing the county’s housing gap.

“What the analysis has shown us is that there is much more potential than we would have expected, and that we can, in fact, meet or exceed projected demand,” Oosterman said. “… We were really excited, and I would say, surprised, to find out that there is that much untapped potential in these places.”

housing potential, but also challenges. For the study, Kilpatrick analyzed zoning maps and found that of all the vacant land in Kent County that is zoned for residential use, 97.8% of it is zoned for single-family housing.

Kilpatrick and Oosterman said they both knew the percentage of land with single-family zoning would be high, but Oosterman said she was “shocked” by how high. She said it confirms Housing Next has “a lot of work to do” encouraging zoning reform to make housing at all price points available to meet market demand.

“When we looked at the corridors, what we found is that well over 3,000 acres was either vacant or significantly underdeveloped.”

Ryan Kilpatrick, founder and CEO of Grand Rapidsbased Flywheel Community Development Services

Although Oosterman and Kilpatrick declined to disclose the full list of corridors until the study is complete, they have said it includes parts of Plainfield Avenue, Alpine Avenue, Fulton Street, Kalamazoo Avenue, 44th Street and 28th Street. It spans municipalities including Plainfield Township, Walker, Wyoming, Kentwood and Grand Rapids.

The study not only identified

“It just validates that we have to build on the momentum we have, and we have to shift our energy and focus as a community to getting to that solution at scale, now that we know that it’s possible,” Oosterman said.

The study found that developing the 3,000 acres would spur approximately $10 billion in new investment based on current building costs, and more than $100 million of additional local and county tax revenue based on the taxable value

detrimental to business.

“(We’ve seen a) 70% decrease in our foot traffic since the scaffolding has gone up,” Straight said, noting that customers planning a visit to the shop generally know that it remains open, while foot traffic tends to see construction signs and assume the area is non-navigable.

While the construction work brings complications, improvements along the corridor will help support South Division’s ongoing growth, with better lighting and repaved streets.

“We’re excited to have structural improvements to the neighborhood here,” said Matthew Rothenberg, president of the Heartside Business Association and co-founder of ArtRat Gallery, also located on South Division. “The intersection work is essential, and we’re not going to begrudge that, but we want to make sure that everything is working as well as it can when it impinges on businesses.”

Business owners in the affected area said the lack of communication about road closures has been an ongoing source of frustration. As well, a facade improvement

of the housing that would be built.

Kent County Administrator Al Vanderberg, who also is a board member of Housing Next, said those numbers illustrate how redeveloping underused commercial corridors is a smart approach for communities.

“It’s a kind of a ‘win, win win,’ because we have a lot of folks that need affordable housing, we’d reuse or better utilize existing infrastructure, and we’d also create a new tax base. It really doesn’t get better than that,” he said.

Joshua Lunger, vice president of government affairs at the Grand Rapids Area Chamber of Commerce, said developing underused commercial corridors aligns with the chamber’s goal to create more “vibrant and attractive” destinations in greater Grand Rapids. Housing Next is funded by and housed within the Greater Grand Rapids Chamber Foundation.

“When you look at the big projects we’re doing in town right now, a lot of times, they’re in key areas where we’ve got underutilized or even vacant spaces, and (the question is), how do we transform those into something that’s way more sticky and magnetic and attractive?” Lunger said.

“(This strategy) is continuing that focus of making more places

intersection closure.

Copeland said he’s been working with the Heartside Business Association and other Heartside businesses to create events to drive more foot traffic along South Division.

Alex Benda, CEO of Oh Hello Companies, the parent company of Monroe Center Street gift shops Oh Hello and Courage and Soar, said that while his business has been doing well, he’s noticed the road closure at the end of Monroe Center Street can deter some foot traffic.

“A lot of people see the construction at the end when they walk down the road so they turn around and they’re not willing to explore as much,” he said.

where people want to live or stay, and it increases the quality of life of those that are already here,” he added.

Vanderberg said Kent County stands ready to help the process by contributing funds from the affordable housing revolving loan fund and by leveraging the countywide brownfield tax increment financing district that the Kent County Board of Commissioners created last year.

“Both are standalone great tools to help address the housing crisis, and then when you put them together on the deals that will make sense to use (them) both,” it will have even greater effect, he said.

Oosterman said Housing Next plans to hold an event in Kent County this fall with a “curated” guest list of developers, investors, municipalities and other stakeholders that could be a part of implementing the corridor strategy.

“It’s a stretch (to accomplish this),” she said. “We’re talking about thousands of units, right? We’re also talking about really big ideas, and narrative shifts in how we have utilized and how we have built and developed over the last decade or more. … We’re just hoping to get folks on board who are willing to help us to actually accomplish that (goal).”

event drew 1.6 million visitors to the city’s dedicated ArtPrize district, generating an estimated $54.7 million in economic activity.

Rothenberg hopes that extra signage, 10 new ArtPrize venues and a sculptural art installation will be enough to lure visitors to South Division during this year’s art competition. A trolley will also be available for easy transportation to and from the Heartside business district.

“(We’re) figuring out how best we can activate the space in front of those stores, to really make it a bit of a magnet for activity,” he said.

project taking place over the sidewalk at 25 S. Division has created additional construction on the stretch.

“We understand that construction is necessary and contributes to positive change in cities,” Fitzpatrick and Steverson said. “We aren’t upset because they are doing construction, we are upset because we were not properly informed and the construction is not being handled in a way that creates a safe environment for our customers.”

Rothenberg also noted that the block from Weston Street to Fulton Street was being used for equipment staging for the intersection construction. Crews have since moved the equipment in response to retailers’ requests.

Other businesses along the corridor also are feeling some pressure from the construction and ongoing closures.

Brandon Copeland, who owns Grammotones, a clothing store at 120 S. Division Ave. that opened in February this year, cited a “noticeable drop in foot traffic when construction started,” despite being more than a block away from the

The foot traffic challenges are especially concerning for downtown businesses that are anticipating a boost in visitors tied to ArtPrize, which runs from Sept. 13-28.

“ArtPrize is one of the busiest, if not the busiest time of the year for us,” Second Vibess co-owners Fitzpatrick and Steverson said. “This year we are hosting five artists for ArtPrize. We’re concerned the (construction) impact during ArtPrize will be significant to our businesses.”

ArtPrize anticipates upwards of 1 million visitors to the city for this year’s competition. In 2023, the

Rothenberg also noted that the ArtPrize Clubhouse is located at the corner of Commerce Avenue and Oakes Street, which should help drive traffic to the corridor.

For small retailers like Rewind and Second Vibess, the summer months and ArtPrize events are a pivotal time of year.

“We’re going to keep a close eye on sales in the fourth quarter,” Rothenberg said. “From ArtPrize through the holidays is a big sales season for us. We’re just going to trust that. We look forward to working with our partners in the city to do everything we can to make sure that the customer traffic is moving down South Division.”

Rewind and Second Vibess have

Michigan agriculture chief talks about farmer struggles, bird flu response

Tim Boring’s day job is leading the Michigan Department of Agriculture and Rural Development, which supports and regulates the industry and is responsible for food and animal safety. On nights and weekends, the sixth-generation farmer helps out on the family’s medium-sized grain farm in Stockbridge, halfway between Lansing and Ann Arbor. As a student at Michigan State University, he was interested in cropping systems and took a shine to research — leaving with a bachelor’s degree in agriscience and a master’s and a doctorate in soil and crop sciences. Before being appointed by Gov. Gretchen Whitmer in March 2023, he was the U.S. Department of Agriculture Farm Service Agency’s executive director in Michigan and previously had jobs related to soil conservation and agribusiness. | By David Eggert

How is agriculture doing in Michigan?

It’s rough right now in a lot of areas, and it’s poised to get rougher, especially for production systems in Michigan that are designed around specialty crops. Labor availability has been really tough. There’s not a lot of room for margin in the first place. It’s tough economics of figuring out how to get labor onto farms. A lot of the H-2A (temporary foreign worker) labor wage rates are increasing and putting a real crunch on folks. (He also pointed to competition from imports). Peruvian asparagus can come in here and undercut at cost considerably. Turkish cherries have been coming into the market. We’re also poised to be falling off a cliff here with the general farm economy in the next year or two. Input costs are still holding pretty high. Cash grain prices are really falling. Livestock markets aren’t in great shape. We’re looking at some broader headwinds across the ag economy here in front of us. That’s really concerning here of how we position farms and make sure we’ve got safety programs in place for farms. A lot of that is, of course, informing our work here at the department. We’re really prioritizing resiliency, diversity. We’ve substantially increased our efforts around regenerative agriculture over the last year. Building up those programs that are putting more of a focus on how you grow it. Making sure that we’re building in environmental protections around products. If we, the consumers and the stakeholders, value greater climate resiliency in our systems, better climate outcomes, healthier water quality, greater carbon sequestration, more diversified production for smaller farms across the state, there’s got to be a value for that. Building those systems in place to make sure we’re capturing that sort of value is a big focus.

What can the state do?

We got $3 million (in the recently enacted budget) for the (new) Farm to Family program and importantly some added staff capacity. As we’ve traveled around the state in the last year talking to communities about what they needed to grow farms differently, whether it’s urban space, whether it’s in very rural places, access to food and access to having markets to do

something different on your farm continue to emerge. And those things are linked together. We’re in a state that grows a lot of different products. And all too often, the products that are on shelves or on your dinner plate from a restaurant are sourced from out of the region. Processing is sometimes limited. The distribution isn’t always the easiest from how we’re getting stuff from local farms up into these places. Too often, school cafeterias aren’t set up to source out of the community. It’s easier to call an aggregator and have the stuff show up on one truck. That becomes a real opportunity for the department to be building systems and have a greater piece to this, of understanding how can we source Michigan products to create economic opportunities for farm families but do it in a way that are grown the right way into grocery stores, schools and restaurants. The first step for us is getting some food-system experts on staff here, that kind of live and breathe this work on a daily basis, that have some expertise in this already, and be building out these opportunities for how we as a state can be working together to put systems in place that address some of these ongoing challenges that keep being surfaced.

Where do things stand with the bird flu that has hurt the poultry and dairy industries? We have a lot more knowns

today. Michigan was really at the forefront of this outbreak at the national level. We started taking definitive steps in April, for instance. We had the first dairy farm confirmed (in) late March. Quickly, we had significant impacts to the poultry industry. We had a lot of questions of how the virus is being transmitted around, obviously in a different way, that it’s moving from dairy farm to dairy farm. We knew pretty quickly that it was moving from dairy farms to poultry operations through things like whole-genome sequencing. There were questions at that time of the safety of the milk supply and the health risk to people. We’ve really pushed hard and stood up a lot of science in real time to help guide that decision-making. We’re a little bit more focused in the approach today. We understand that milk is a contamination source and a transmission potential more so than perhaps other vectors. We know the pasteurization is safe and so our food system, our food security there, isn’t compromised in a real way with this. We know that the greatest health exposures today are around farm workers dealing with sick animals. It’s prioritizing those initial health responses to make sure that farm workers are protected but continuing to be guided by this broader issue — the threat ahead of us is this virus persisting in the environment and mutating in a way that

President and

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Executive

causes additional health risks to people. The poultry industry has been dealing with HPAI (Highly Pathogenic Avian Influenza) for several years now. It’s new for the dairy industry.

Was Michigan a hot spot?

We certainly had more cases confirmed here on a dairy aspect and a human health impact. But that’s largely because we were looking.

Is there aid available for affected farmers?

The USDA came out with financial assistance to help farms (with) upwards of $28,000 for personal protective equipment, for on-farm pasteurization, to implement specific biosecurity practices. We followed that on with a $28,000 offer of our own tied to research participation. A lot of the research that’s guiding the effort nationally now was done here in Michigan. But at the end of the day, if you’re a farm that’s dealt with this in a real way, you’ve had far greater economic impacts than a few tens of thousands of dollars. A USDA (program) is open for enrollment now, and that compensates growers for upwards of 90% of the value of your lost milk production.

You issued an emergency order in May to control and prevent the spread of HPAI. Is that still in effect?

It is. That is in effect for six months. We’ve got another couple months here. We’re looking to how we continue to build out focused response efforts across farms after the expiration of that order. Those are ongoing discussions with industry partners and farm groups about how do we continue to build in protections here to make sure that we’re not spreading the virus further around the state.

Do you expect to extend it?

We haven’t talked a lot about the next steps on it specifically. We’re working closely with the industry on this. Everybody’s kind of rowing in the same direction here. Farms do want to make sure they’re prioritizing efforts for protections. So whether it’s a formal extension of the order or not, we’re all kind of working together toward these goals already.

David Eggert is a reporter for Crain’s Detroit Business.

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