Although the restoration of the Grand River may still be a couple more months away from launching, stakeholders in the Downtown community are already anticipating the restoration’s opportunities and positive economic impact.
In 2014, the Anderson Economic Group LLC estimated that the initiative could generate a new net economic impact of $15.9 million to $19.1 million annually.
City planners, real estate developers, property owners, and local businesses, “see significant potential for considerable economic spin-off if the plans come to fruition”.
Andy Guy, chief outcomes officer at DGRI calls the initiative the “most significant urban revitalization project” in downtown Grand Rapids in decades.
“We view (the river restoration) as one of the single largest gestures the city can make for redevelopment of the urban core and the whole area,” adds Rick Winn, president of Amway Hotel Corp.. He adds that public spaces adjacent to Amway-owned hotels could eventually become points for kayakers and boaters to directly access the river. “This will enhance tourism in a major way. We see it as an enhancement of the area as a destination.”
Read more at MiBiz’s article about the community’s view on the economic benefits of the Grand River Restoration project.
