Third Coast In The News

Plainfield grants rezoning for office development Editorial, The Grand Rapids Press, Grand Rapids, Michigan, Apr 14, 2005

PLAINFIELD TOWNSHIP -- The Township Board approved rezoning 3.47 acres at Grand River Drive NE and East Beltline Avenue for an office development.

East Grand Rapids-based Third Coast Development Partners LLC plans to construct three buildings on the southwest corner. The Planning Commission supported rezoning the site from residential to office.

Developer Brad Rosely said the new zoning at 4939 East Beltline is attracting interest. A 5,000-square-foot bank building proposed for the corner of the lot has attracted the interest of four branches that do not have a presence in the area, he said. One of two 10,000-square-foot buildings also has a potential purchaser, Rosely said.

Builder Rick Nugent asked the board to consider giving office developers a tax break on vacant office buildings. Nugent said he did not oppose the rezoning, but his own office building in the township is 25 percent vacant and the area has a glut of office space. With the glut, property taxes should be cut when offices are vacant, he suggested.

"Something should be done to provide some tax relief on these office spaces until they're filled," Nugent said.

But board member Robert Heindrichs, who also is a real estate broker, said developers need to be aware of potential vacancies and the financial hardships that they pose.

"When it comes to taxes, there's some things a developer should be looking at before making an investment instead of looking to the township to give them some relief," he said. "The responsibility of that should be shouldered by the developer. It's the developer's risk -- that's what development is about."

Rosely said he won't construct the office buildings until he has a buyer.

"We're finding in the marketplace because interest rates are so low people want to purchase rather than lease," he said.

The developer still needs the commission's approval of site plans and signed purchase agreements. Rosely said he could start construction on two of the three buildings by fall.

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