Magellan Development Group Selected as Partner for Fulton & Market Mixed-Use Riverfront Project in Grand Rapids
Magellan Development Group has been named the development partner for Fulton & Market, a mixed-use riverfront project described as one of the largest and most significant redevelopment efforts along the Grand River in downtown Grand Rapids, Mich., according to an announcement published by the Grand Riverfront organization.
The announcement was published by the Grand Riverfront organization when Magellan was selected as the development partner for the project, which is backed by the prominent DeVos and Van Andel families. The announcement includes statements from J.R. Berger and Ryan Schell and addresses the rationale behind Magellan's selection.
Project Overview: A Mixed-Use Destination Along the Grand River
The Fulton & Market project is positioned as a mixed-use destination along the Grand River in downtown Grand Rapids. The development is intended to create a mixed-use destination along the riverfront, according to the Grand Riverfront organization.
Specific details regarding the project's total square footage, unit count, building count, construction timeline, and capital structure were not disclosed in the announcement. No transaction price or financing terms were provided.
Why Magellan Was Selected for the Real Estate Development
The Grand Riverfront organization cited Magellan Development Group's national development expertise and shared vision as factors in the selection, according to the announcement.
Backing from the DeVos and Van Andel Families
The Fulton & Market project is backed by the DeVos and Van Andel families, two prominent West Michigan families. Their involvement is noted in the Grand Riverfront organization's announcement of Magellan's selection.
The Grand Riverfront organization, which published the announcement of Magellan's selection, oversees the Fulton & Market development initiative. Additional details about the project are available through the organization's website.
Further details about the project's scope, timeline, and financing were not disclosed in the announcement.
Sources
Grand Riverfront — Magellan Development: Fulton & Market, Grand Rapids
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