Creston-Cheshire Investing Guide

With ultra modern medical research labs, new hotels, museums, and other multi-million dollar developments rising in Grand Rapids’ central city, a growing band of farsighted entrepreneurs now are whispering a new catchphrase: Go north.

Louis Mestaz, the proprietor of several successful downtown pubs, is one of them. When Mestaz began to mull over the idea of establishing another new restaurant-bar near the downtown area, the Creston-Cheshire district, which sits just north of the Center City, quickly emerged as the most promising location.

“With all the condos going up, we knew it was only a matter of time before the city began to expand again,” Mestaz said. “When we looked at the map, north was the only place to go.”

Mestaz partnered with fellow barkeep Brett Alward, bought and renovated Bono’s Italian restaurant on Plainfield Avenue, and reopened the joint as the Sazerac Lounge. With an evolving New Orleans themed menu, an extensive beer selection, and regular live entertainment, Sazerac is the newest hotspot on the downtown circuit. And it’s projected to only get hotter.

Mestaz and Alward are just two industrious people in a growing pool of investors now targeting the Creston-Cheshire neighborhood. In recent years, the area has seen a boom in storefront renovations, home and building restorations, and even some new construction. This new energy, combined with the ongoing influx of young urbanites and a loyal population of more than 26,000 people, makes Creston an increasingly attractive business opportunity.

“Creston is a great spot to consider,” said Kimberly Van Dyk, executive director of Neighborhood Ventures, a nonprofit group established to strengthen the city’s business districts. “The buildings are close in all three business districts. There’s great building stock. And people of all income levels live in the neighborhood.”

Financial Matters
Van Dyk also said that investors can expect steadfast support from local economic development programs such as the Creston Corridor Initiative (CCI). The project, managed by the Creston Neighborhood Association, unites residents and business owners together in an effort to revitalize the area’s business districts.

During the renovation of the Sazerac Lounge, for instance, Mestaz and Alward applied for and received a grant to improve the façade of their building. Grants can range as high as $5,000 and require a financial match from the private investor.

CCI also assists prospective investors with identifying potential business sites. Storefront property is available for as low as $125,000 while bigger lots and office space can run as high as $775,000, according to Suzanne Bladely, CCI’s program manager. In addition to CCI, prospective investors will also find useful resources in the Creston Business Association and the Cheshire Village Business Association.

Creston-Cheshire offers both homes and apartments in a wide variety of prices, styles, locations, and amenities. Potential homebuyers can secure a modest, two-bedroom house in the district for as low as $60,000. But larger brick ranch style homes can range as high as $250,000. Rental units typically range from $500 to $1,000 per month.

Early Birds
Until recently, reinvestment in the Creston-Cheshire neighborhood progressed steadily and organically. Hardworking investors such as Louis Mestaz and Brett Alward would modernize an outdated restaurant or an ambitious neighborhood entrepreneur would renovate a storefront. That can do spirit remains very much alive across the district.

But the region also has begun to attract the city’s larger, more seasoned investors. Grand Rapids restaurateur Greg Gilmore, CEO of the Gilmore Group, recently announced plans to remodel the former Creston Library into a café serving breakfast, lunch, and dinner. The project, estimated to cost more than $500,000, also will feature a roof top patio with seating for 40 people. The Gilmore Group currently manages numerous restaurants in rapidly revitalizing downtown neighborhoods, including the BOB in Center City and Mangiamo! in East Hills.

DeVries Companies is another well established developer betting big on the resurgence of the Creston-Cheshire district. The company soon will complete a $8.7 million renovation of the former City of Grand Rapids water filtration plant. The project will transform the historic utility into office space and several luxury loft apartments. It’s also expected to generate 40 new jobs in the area.

“The dynamic vision that DeVries has for this city is reflected in Clear Water Place," said Paul Knust, a project manager with DeVries Companies. "The building is a prime example of the synergy of historic preservation and modern amenities.

Paul Haan, a resident of Creston-Cheshire for 15 years, said these and other projects are driving dramatic and beneficial changes in his neighborhood.

“Creston is seeing a re-emergence of its commercial strip as businesses that cater to the tastes of a creative, younger generation move in,” Haan said. “Contemporary furniture, unique restaurants, and a coffee shop are all a part of the mix. Now we even have weekly poetry readings at Sazerac.”

Positioning For The Future
Amidst all the change and new development, residents in the Creston-Cheshire district have made it a priority to preserve the characteristic look and feel of their neighborhood as well as the strength of their local businesses. Prospective investors would be well served to connect with local business and neighborhood association on their proposed development plans.

Walgreen’s learned that lesson the hard way. Neighbors quickly organized against the corporation after it announced plans to locate a store immediately adjacent to Kay Pharmacy, the local drug store, They cited concerns for the health of the locally owned business, rising traffic counts, and the preservation of the community’s character. The strong backlash ultimately drove Walgreen’s out of the community.

Bank One also experienced the passion and commitment of local neighbors. When the bank decided to terminate its counter service and only offer banking services at a drive thru teller window, local residents took it as an attack on the walkability of their neighborhood. A highly organized citizen response ultimately led Bank One to sell the building. A new credit union opened immediately, promising to cater to any member of the neighborhood.

Indeed, a single Burger King is one of the few chain stores located in the district. And its interior walls are decorated completely with historic images of the neighborhood.

The Creston-Cheshire area will continue to evolve. The city’s business leaders are investing billions of dollars into new condos, institutions, and other developments just blocks away. Most agree the district will experience a significant amount of spillover public and private investment.

And, ironically, the city’s latest master plan envisions a rapid public transit hub at the corner of Plainfield and Leonard. It was horse- and street-cars and the railroad that propelled the district’s expansion 130 years ago. As Grand Rapids works to expand and rebuild its public transit system, street-cars could again encourage a much larger and more influential wave of new residents and investors to think: Go North.

For more information about Creston-Cheshire visit the:
- Visiting Guide
- Moving Guide

From the North:
Take US-131 South toward Grand Rapids and take Exit 87 toward US-131 Business/Leonard St. Stay straight to go onto Turner Ave NW and turn left onto Leonard St NW/ US-131 BR. Continue to follow Leonard St NW. Turn left onto Plainfield Ave NE and arrive in Creston-Cheshire.

From the East:
Take I-96 West toward Grand Rapids and merge onto I-196 West toward Downtown Grand Rapids/Holland. Continue to US-131 North via Exit 77A toward Cadillac and take Exit 87 toward Leonard St. Stay straight to go onto Scribner Ave NW and turn right onto Leonard St NW/US-31 BR. Continue to follow Leonard St NW. Turn left onto Plainfield Ave NE and arrive in Creston-Cheshire.

From the South:
Take US-131 North toward Grand Rapids and take Exit 87 toward Leonard St. Stay straight to go onto Scribner Ave NW and turn right onto Leonard St NW/US-31 BR. Continue to follow Leonard St NW. Turn left onto Plainfield Ave NE and arrive in Creston-Cheshire.

From the West:
Take I-96 East toward Grand Rapids and merge onto US-131 South via Exit 31A toward Grand Rapids/Kalamazoo. Continue to Exit 87 toward US-131 Business/Leonard St. Stay straight to go onto Turner Ave NW and turn left onto Leonard St NW/ US-131 BR. Continue to follow Leonard St NW. Turn left onto Plainfield Ave NE and arrive in Creston-Cheshire.

Take I-196 East toward Grand Rapids and merge onto US-131 North via Exit77A on the left toward Cadillac. Take Exit 87 toward Leonard St. Stay straight to go onto Scribner Ave NW and turn right onto Leonard St NW/US-31 BR. Continue to follow Leonard St NW. Turn left onto Plainfield Ave NE and arrive in Creston-Cheshire.