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Welcome to the official blog for Develop Michigan. This is where you'll learn about new events, announcements and happenings.

Michigan Chamber Spotlight: Rick Laber, DMI President

Mark Sherman - Wednesday, October 19, 2016

The Michigan Chamber of Commerce recently featured Rick Laber, Develop Michigan Inc. President, in the fall edition of the Quarterly Report. Click here to read the full feature!  

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Midwest Real Estate News: Betting on the Strand Theatre to boost downtown Pontiac

Jennifer Calery - Tuesday, October 18, 2016

Recently, the Midwest Real Estate News published an article on the redevelopment of the Flagstar Strand Theatre, a Develop Michigan investment. Please click here to read the full article!  

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‘Raising the Curtain’ on Downtown Pontiac’s Revitalization

Jennifer Calery - Friday, April 15, 2016

PONTIAC, MI – The city of Pontiac, Mich. is experiencing a resurgence similar to what's being seen in other large cities around the state, like Detroit and Grand Rapids. Millions of dollars are being invested in the city to renovate and refurbish historic buildings. One such project is the rehabilitation of the 895-seat Flagstar Strand Theatre for the Performing Arts, which will reopen in fall 2016 with $20 million in renovations.   

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Building Steeped in Grand Rapids History Secures Necessary Financing to Finish Renovations

Kelly Bernero - Tuesday, June 23, 2015

Owner and developer of the Harris Building, Harris Lofts LLC, is making it a home for art, culture, music, film, fine food and more. Downtown visitors have enjoyed the downtown market and cooking classes The Local Epicurean offers on the first floor of the building, as well as the art gallery and event space The Renaissance Club offers; but now the second and third floors can permanently host some of Grand Rapids’ trendiest events, displays and exhibits. 

Thanks to a recently formed partnership with Develop Michigan, Inc. (DMI), the historic Harris building will be preserved and repurposed for Grand Rapids residents, artists and visitors alike. DMI is a nonprofit development finance organization committed to revitalizing Michigan communities through commercial real estate investments. 

Since late 2013, DMI has invested in metropolitan and rural downtowns, including Detroit, Royal Oak, Milan and Alma, and is looking at multiple opportunities across the state. The Harris Building is the first investment DMI has made in West Michigan – with more in the works.
“Develop Michigan is thrilled to be a team player in the Harris Building revitalization and preservation,” said DMI President, Rick Laber. “Even before fully complete, Grand Rapids residents and visitors have flocked to the iconic space for one-of-a-kind cultural experiences. It will be fascinating to see where community leaders and activists take things next.”

ArtPrize exhibits have made the Harris Building their home for the past two years, but now the space can be utilized as a year-round venue for the arts and more. Additionally, the master tenant, The Renaissance Club, plans to offer art and music classes as well as special events such as a dinner theater and dance club.

“It is fantastic to see a Michigan company partner with a local developer to push The Harris Building renovations over the finish line,” President & CEO of Downtown Grand Rapids Inc., Kristopher Larson said. “The Harris Building has been an integral part of the Heartside District’s revitalization and with financing complete, thanks to Develop Michigan, revitalization efforts have been bolstered even more in the neighborhood.”

Originally built in 1892, the Harris building was first home to the secret fraternal organization the Knights of Pythias. Following, it was home to several furniture companies. Since the late 2000’s and the transformation of the Heartside neighborhood becoming the “Avenue for the Arts,” the Harris building has been host to special events as well as pop-up stores.

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Groundbreaking for Capitol Park Lofts fuels revitalization in Detroit

Kelly Bernero - Tuesday, May 26, 2015

On Monday, May 18, Develop Michigan, Inc., (DMI) joined development and financing partners for an exciting announcement on the site of Michigan's original Capitol, in Detroit. The Historic Capitol Park Building will soon feature urban lofts, commercial and retail space. DMI helped finance this project through a $7.25 million permanent loan. JPMorgan Chase President and CEO, Jamie Dimon attended the groundbreaking and affirmed their commitment to the City of Detroit. The Capitol Park Lofts will offer 63 apartments and 19,000 square feet of retail space downtown. The building, which is being redeveloped by Lansing-based Karp and Associates, is about 72,000 square feet at Griswold and State streets.  

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Develop Michigan Delivers $23 Million in Statewide Project Financing

Kelly Bernero - Monday, May 04, 2015

Lansing, MI - Develop Michigan Inc. (DMI) closed eight loans totaling over $23 million in the last year. This investment in the Comeback State brings critical financing to commercial real estate developments in Michigan and leverages total investment of $58 million.DMI was formed as a collaboration between the Great Lakes Capital Fund, the Development Finance Group and the Michigan Economic Development Corporation. In late 2013, DMI found partners who were committed to Michigan’s economic revival through high-impact real-estate developments and job creation. “We have been very pleased with the positive reaction of DMI in the marketplace. One of our highest priorities in establishing DMI was to create and retain Michigan jobs and we are thrilled at the job growth and creation that DMI has leveraged,” said Rick Laber, President of DMI.  

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