Page 20 - 2019 Colliers Forecast Book
P. 20

20   Colliers International | West Michigan

          Downtown Holland continues to transform with GDK  units this year. Creating additional housing opportunities will
          Construction and Geenen DeKock Properties (GDK) working  help support Holland’s growth and attract more people to the
          on a number of projects in the area. These projects include the  Lakeshore for work and play.
          Parking Deck, 50 West Residences, The Lofts at West Eighth,
          Canterbury Cottage, Tulip Time and the Holland Sentinel. GDK  Outside of downtow Holland, there have been several large
          has also been working on the theater building development  acquisitions including the 104,258-square-foot former SAF
          next to the Lofts on West Eighth that features the Sperry Theater,  Holland industrial building which has plans to be redeveloped
          Cakabakery, HopCat and other businesses. These projects are  into three separate units. There are also plans for three new
          playing a vital role in the continued growth and success of  industrial buildings on 64th Street totaling almost 500,000
          Holland.                                             square feet. Additionally, several industrial users have expanded
                                                               at their current site. On the north side, the construction of
          As Holland continues to evolve and grow, so does demand for  three new hotels, including Homewood Suites by Hilton and
          additional housing. In fact, over the last decade almost no units  Staybridge Suites, are wrapping up.
          have been added to the market, which has fueled demand.
          However, this could soon change in 2019.  A number of  West Michigan’s economy remains stable, and Holland should
          multifamily developments are in the pipeline for 2019 and  see another productive 2019. Ottawa County unemployment
          we expect construction to begin on approximately 1,000  is below full-employment at 2.5 percent as of the end of Q3
   15   16   17   18   19   20   21   22   23   24   25