East Hills-Cherry Hill Investing Guide
Tommy Allen
Thursday, September 20, 2007
Buoyed by an influx of new residents and a reenergized civic spirit, the commercial districts in the East Hills-Cherry Hill area are attracting a wide variety of original small businesses, many of them locally owned.
More importantly for investors: residents are genuinely dedicated to helping these businesses succeed. So new storefronts now open regularly. And they tend to stay open.
But anyone looking to this part of the city to either open a business or buy a home should act quickly, according to Diane Griffin, a realtor with Keller Williams.
“The time to get in is now,” Griffin says. “This neighborhood is the hottest market in the entire city. But the secret is getting out and the deals will not last long. People are beginning to take notice of the many good things happening in East Hills.”
The list of early birds to the area includes some of the city’s leading urban redevelopment firms. Second Story Properties. Rockford Construction. Bazzani Associates. These are the companies that laid the foundation for the revival of such thriving districts as Heartside, Center City, and Monroe North. And now they are targeting the East Hills-Cherry Hill area for the next chapter in Grand Rapids renaissance.
In the wake of such an aggressive reinvestment strategy, the area is seeing a flood of new eateries, boutiques shops, and art galleries to serve residents and visitors alike. But it is also drawing architects, lawyers, nonprofit groups, banks, builders, and other entrepreneurs who aim to capitalize on East Hills’ growing popularity.
East Hills makes good business sense
Mark Bird, principal at Bird Design, a marketing firm, initially moved to 968 Cherry Street because he got a good price on the space. But he says relocating his agency to the area turned out to be a smart investment choice. Although he didn’t plan it that way.
“I used to work out of my home prior to moving to East Hills,” Bird says. “Not only has this area grown, but my work has grown as a result of the good energy on my street.”
“I will be honest,” Bird adds. “I had no idea when I got here that the area would change for the better.”
Bonnie Schut, owner of the Kitchen Design Studio, grew up in the neighborhood. She says coming back and establishing her business at 750 Wealthy Street was an easy decision.
“I know a lot of people would say I am brave to return to this neighborhood,” Schut says. “But my clients – who hail from East Grand Rapids to as far away as Chicago – really love coming to our new location.”
Wealthy Street, where Schut’s business is located, is classified as a Renaissance Zone from Fuller to Union. Renaissance Zones are an urban redevelopment tool designed to lure new residents and businesses to distressed and blighted areas with tax breaks. Companies and people who choose to locate in the specially designated areas essentially pay no taxes for a period of time. This can include exemption from state income taxes, the Small Business Tax, the city income tax, and other state and local taxes.
Schut and other business owners agree the program provides an attractive incentive to invest in targeted areas like East Hills-Cherry Hill. “It is a great time to get in on the ground level at a great price,” Schut says. The Ren Zone designation for Wealthy Street is set to expire in 2012.
Guy Bazzani, a builder specializing in environmentally friendly design, also chose to locate his construction firm on Wealthy Street in the stately Helmus building. Originally built circa 1918, Bazzani renovated the brick building on the corner of Wealthy and Diamond in 2002.
Once abandoned and functionally obsolete, the Helmus now is a model of both modern energy efficiency and historic preservation. Bazzani Associates headquarters are located on the first floor and Bazzani himself makes his home on the second.
Indeed, Bazzani has emerged as one of the area’s leading boosters. His firm helped to launch the rehab of not only the historic DA Blodgett Home at 920 Cherry, which is now owned by the Inner City Christian Federation, but the site around it as well. The revitalizaton project includes the construction of more than 30 new townhouses and 8,000 square feet of commercial space on the property. It also exemplifies the strong commitment to community improvement and social responsibility that flows through the district.
An active and engaged citizenry
Kimberly Van Dyk, executive director of Neighborhood Ventures, a non-profit organization focused on strengthening the city’s business districts, agrees that the East Hills-Cherry Hill district is a good place to invest. Among the reasons why, she cites a passionate and committed base of residents and business leaders focused on building a quality place to live and work.
“This neighborhood owes its present success to the spirit of the neighbors and business owners who stood up and said we will stand not allow our neighborhood to fall to blight,” Van Dyk says.
The citizen activism has not only set in motion tens of millions of dollars in private investment, it is also leveraging a significant amount of public funding to reshape how the district looks, feels, and functions. This past summer, for example, contractors launched a major reconstruction of a significant stretch of Wealthy Street. The project involved upgrading sewers, widening sidewalks to stimulate pedestrian traffic, and resurfacing the roadway with brick pavers. Similar efforts have dramatically overhauled public spaces in the Fulton Street business district as well.
A place for entrepreneurs
The East Hills-Cherry Hill district is actually made up of seven neighborhoods, each with its own unique charm and character. They include:
- Wealthy Heights (south of Cherry, north of Wealthy, east of Diamond, west of Fuller)
- Fairmount Square (south of Cherry, north from Wealthy, east from Eastern, west of Diamond)
- Cherry Hill (north from Wealthy, south from Cherry, east of Union, west of Eastern).
- Fitch Corners (Union, Fulton, Eastern, Cherry)
- Diamond Gate (Diamond, Fulton, Fuller, Lake)
- Congress Park (Eastern, Fulton, Diamond, Cherry)
- Orchard Hill (Diamond, Lake, Fuller, Fairmount)
Prospective homebuyers can expect to pay anywhere from $64,000 for a fixer upper in the Diamond Gate neighborhood to upwards of $250,000 for a turnkey home in the Cherry Hill historic district. The new town houses Bazzani Associates intends to construct on Cherry Street will range in price from $155,000 to $210,000. Property values are steadily escalating throughout the district.
The area also includes three distinct business districts – East Hills, East Fulton, and Wealthy Street – all of which are flourishing in the wake of the growing housing market. The newest businesses include a wide selection of restaurants, art galleries, antique shops, and boutique shops. A growing number of offices also are locating in the area.
But whether it’s restoring an old historic home or starting a new business, at least on common value unites the residents and proprietors in this reinvigorated quarter of Grand Rapids.
“It is the strong entrepreneurial spirit that continues to attract people here,” says K.C. Caliendo, a member of the East Hills Council of Neighbors. “I felt this energy when I started [the vegetarian restaurant] Gaia in 1983. And it’s still here. That’s why I am still working in this neighborhood.”
For more information about East Hills-Cherry Hill visit the:
- Moving Guide
- Visiting Guide
Photos:
Marie and Fouad Catrib of Marie Catrib's Restaurant
Bread oven at The Wealthy Street Bakery
Red brick streets
Bloom Restaurant
House detail on Charles Avenue
Photographs by Brian Kelly - All Rights Reserved
Directions to East Hills-Cherry Hill
From the North:
Take US-131 South and merge onto I-196 via Exit 86A on the left toward Lansing. Continue to Exit 78 College Ave and turn right onto College Ave NE. Turn Left onto Fulton St E and then turn slight right onto Lake Drive SE. Arrive in East Hills-Cherry Hill.
From the East:
Take I-96 West toward Downtown Grand Rapids and take Exit 79 for Fuller Ave. Turn left onto Fuller Ave NE and then right onto Michigan St NE. Turn left onto Diamond Ave NE and arrive in East Hills-Cherry Hill.
From the South:
Take US-131 North toward Grand Rapids and take Exit 84B for I-131-BR toward Downtown. Turn left onto Ionia Ave SW, then right onto Fulton ST E. Turn slight right onto Lake Dr SE and arrive in East Hills-Cherry Hill.
From the West:
Take I-96 East toward Grand Rapids and merge onto US-131 South via Exit 31A toward Grand Rapids/Kalamazoo. Continue and merge onto I-196 via Exit 86A on the Left toward Lansing. Take Exit 78 for College Ave and turn right onto College Ave NE. Turn left onto Fulton St E and then slight right onto Lake Dr SE. Arrive in East Hills-Cherry Hill.
Take I-196 East toward Grand Rapids. Continue to Exit 78 for College Ave and turn right onto College Ave NE. Turn left onto Fulton St E and then slight right onto Lake Dr SE. Arrive in East Hills-Cherry Hill.