Wednesday, the Grand Rapids Downtown Development Authority agreed to sell nearly 4.5 acres of surface parking lots to Grand Action 2.0 for its Amway Stadium project.
The economic nonprofit is leading the development of the $175 million stadium and has agreed to pay just over $8 million for the property. Executive Director of Grand Action Kara Wood explains.
“The balance of the property is currently owned by the DDA and we have worked with the DDA to draft and plan to execute a temporary access agreement for the project construction from May ’25 to March ’27.”
The project site spans 8.5 acres north of Pearl Street just west of U.S. 131 and will be built on nearly 800 surface parking spaces, including spaces owned by the YMCA of Greater Grand Rapids, DASH bus parking lots owned by the DDA, and the former Big Boy property, which was donated to the DDA in December 2023 by Fox Ventures LLC.
“It also includes requirements about insurance and monthly payments for lost parking revenue during the period of time which we’re accessing the site for construction.”
That lost revenue amounts to $27,000 per month for the first year and just over $28,000 per month the second year.
Part of the purchase agreement negotiated with the YMCA calls for Grand Action to build a weatherproof skybridge connecting the Grand Valley State University Seward Parking Lot structure to the downtown YMCA.
