Magellan Development Group joined Fulmar Property Holdings on the proposed $797 million mixed-use development known as the Fulton & Market project. Fulmar is tied to the DeVos and Van Andel families who own the project site.
This will be Magellan’s first West Michigan project, which calls for retail, office, hotel and residential space housed within three towers along the east bank of the Grand River.
Magellan is a family-owned business founded in 1996 specializing in large-scale, mixed-use urban communities. They’re best known for projects such as Lakeshore East in Chicago, The W Nashville and the Thompson and Tommie Hotels in Austin, Texas.
Its leaders say Grand Rapids stood out as a city ready to invest in structures of this scale. Vice President of Development at Magellan Ryan Schell is a Michigan native who said, “To now help shape this site – steps from the amphitheater and riverfront development – is incredibly exciting.”
Before the project moves forward, a state-level vote on tax incentives is expected to occur before the end of 2025.
