By: Deborah Johnson Wood
Neighborhood Ventures last week presented the initial results of a study of Grand Rapids business districts and the opportunity for new enterprise in those districts. The study is the basis for ReStore Grand Rapids, a new business recruitment program focused on boosting the retail scene.
The study targeted three micro-regions: Uptown (the business districts of Eastown, East Hills, Wealthy Street, and East Fulton), Southtown (the business districts of Franklin/Eastern, Madison Square, Division South, and Boston Square), and the South West Side (the business districts of Grandville Avenue and Burton Heights).
"Some numbers show that in Southtown there is over $20 million to be made in restaurants," says Kimberly Van Dyk, executive director of Neighborhood Ventures, which who partnered with Local First, Grubb & Ellis Paramount Commerce, and Rapid Growth Media to initiate the study.
"In Uptown, there's over $10 million of economic leakage in grocery store sales," she added. "That is pretty powerful stuff."
Next steps are to present the study's findings to area stakeholders and develop the business recruitment program. Van Dyk hopes that, as the regions move forward with their recruitment plans, each will come up with ideas to enhance revitalization efforts and help lure the businesses they need.
Neighborhood Ventures plans to coordinate efforts and oversee the ReStore Grand Rapids program as it develops.
Source: Kimberly Van Dyk, Neighborhood Ventures
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Deborah Johnson Wood is development news editor for Rapid Growth. She can be contacted at [email protected].
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