Grand Rapids has become one of the fastest-developing cities in the Midwest over the last 10 years. That growth has been buoyed by various national and regional recognitions, including from LinkedIn as a #1 “City on the Rise,” which highlighted strong job growth, talent attraction, and economic momentum, a Top 3 Mid-Sized Metro for Business Climate by Business Facilities, and as a Best Run City in America and a Top 30 City for Jobs, according to WalletHub.
One of the clearest indicators of growth has been construction and development investment. According to the city and Downtown Grand Rapids Inc., downtown development activity has accelerated dramatically since the mid-2010s.
Grand Rapids reported nearly $949 million in total construction value citywide in 2025, more than $200 million higher than the prior annual record of $728 million. Much of this activity has centered on the downtown core and riverfront, including projects tied to the future Acrisure Amphitheater, Studio Park, medical office expansion, mixed-use residential towers, and adaptive reuse redevelopment.
Vice President of Economic Growth for the Grand Rapids Chamber Jenny Waugh said these and other recognitions are among the many reasons why some businesses are relocating their entire headquarters to Grand Rapids, even from other states, or why businesses in southeastern Michigan are opening second offices in the city. She estimated that about 15 new businesses have opened in downtown Grand Rapids since January 1, comprising commercial and retail.
Waugh specifically mentioned Rebel Nell, a Detroit-based business known for making jewelry from reclaimed graffiti, murals, and historic materials while employing women facing barriers to employment. Rebel Nell expanded into Grand Rapids with its first West Michigan storefront at 96 Monroe Center NW.
“You’re seeing a lot of law firms and other service firms and restaurants opening,” Waugh said. “When businesses open, you need more services and (restaurants) for them. You also have businesses that have expanded staff or are looking to make façade improvements.”
The City of Grand Rapids offers grants for such improvements through its Corridor Improvement Authorities, which are special business districts set up to encourage reinvestment in commercial corridors. The grants are designed to help business and property owners improve the exterior appearance of commercial buildings.
But there are other financial incentives available for new businesses, including rent forgiveness or bridge loans for small business owners. Grand Rapids has access to CDFIs that provide non-traditional banking options for entrepreneurs who might not qualify for conventional loans.
“The city and (stakeholders) like the chamber want to remove any hardships we can to make it easier for businesses to (invest) here,” Waugh said. “We have alternative financing usually available for any site at any stage of (new business) development.”
Such versatile support drives interest, thereby reshaping downtown Grand Rapids. The Acrisure Amphitheater opened May 15 with more than 50 events expected there in 2026. The outdoor concert venue is part of a major riverfront redevelopment and is designed to bring in national touring acts and large-scale entertainment, according to Randy Thelen, Executive Director of The Right Place. The regional economic development group helps businesses grow and expand in the Grand Rapids area by providing site selection support, workforce connections, and strategic resources.
The amphitheater seats around 12,000 guests with a mix of reserved (chair) and lawn seating. It serves as a magnet venue on the city’s new southern downtown edge that has and likely will draw further retail, commercial, and residential developments around it. Lionel Richie opened the venue on May 15 with a packed schedule through September.
Grand Rapids is also getting its first-ever professional soccer stadium, called Amway Stadium, that will open in 2027. It is located on the west side of downtown Grand Rapids along Winter Avenue and will serve as the home of the new AC Grand Rapids soccer team, established in 2024. The team will compete in the MLS NEXT Pro league, a development league that is aligned with Major League Soccer (MLS) in the U.S.
The stadium’s capacity is about 8,500 to 11,000 with standing room areas. The project cost is expected to be around $175 million and may host other events throughout the year.
“We have a nice blend of civic and private projects ongoing,” Thelen said. “We want to have a diverse group of developments that fit the region and attract young professionals.”
Other notable developments include:
• Factory Yards – a roughly $150 million ongoing redevelopment that is turning a long-vacant industrial area into a vibrant, mixed-use neighborhood. Located along Godfrey Avenue near Market Avenue southwest of downtown Grand Rapids, the goal is to create a new neighborhood hub with housing, businesses, and public gathering spaces.
• The West Michigan Hispanic Chamber of Commerce’s development is its new headquarters that doubles as a community hub called the Center for Latino Economic and Talent Advancement. This nearly $12 million project is in the Roosevelt Park neighborhood of Grand Rapids, which has attracted a large Latino population. The development is more than 12,00 square feet and is expected to open later this year.
• The Grand Rapids Public Museum is in the middle of a major multi-phase redevelopment and expansion at a price tag of around $50 million. It includes riverfront, building upgrades, and off-site archive improvements designed to transform the museum from a traditional exhibit space into a modern, interactive community and education hub.
• An office-to-residential conversion at 111 Lyon Street NW is a $50 million investment opening later this year that is considered one of the first large-scale, office-to-housing conversions in Michigan in the heart of downtown.
• BDO Accounting firm is expanding its office at the MSU Innovation Building as part of a corporate relocation to Grand Rapids’ already popular Medical Mile innovation district. This full location move for BDO will be in a redeveloped 35,000 square-foot space in an area where there is an abundance of private sector innovation, especially in healthcare tech and professional services.
“We have seen substantial growth in professional services, health sciences, and hospitality in recent years,” Thelen said. “Our list of current projects shows that. Our manufacturing has held close to steady over the last few years, which is about the best you can expect.”
Some hardships that businesses face may be eliminated or at least reduced by a move to Grand Rapids because of population growth, mild temperatures and weather, an array of data resources, and other support and more, Waugh said. That support also drives interest and referrals to the region.
“You also have the urban factor that a lot of people just want to live here,” Waugh said. She referenced Amway Stadium’s construction as establishing a need for other development infill, citing hotels, restaurants, gas stations, convenience stores, and other light retail as necessary to support the stadium’s developmental infrastructure.
That’s exactly what happened when Van Andel Arena opened in 1996, Waugh said. It helped to create a city district that remains vibrant in the morning, afternoon, and evening. “You want to see that daytime and nighttime activation,” she said.
Thelen believes some non-traditional projects should be among those discussed when reviewing new developments in the greater Grand Rapids region. This includes the riverfront trail and north/south trail corridor expansions and various park enhancements around the city. Additional housing projects along Leonard and Bridge streets surround downtown.
The Dragon Trail, a large, multi-use recreational trail system about 45–50 miles north of Grand Rapids near Hardy Dam Pond in Newaygo and Mecosta counties, is particularly appealing to some adults. It loops around the Hardy Dam reservoir and is designed for mountain biking, hiking, trail running, and winter recreation. These and other outdoor attractions are part of the total package that Grand Rapids officials believe will help drive population growth.
“People enjoy concerts and (young people) don’t mind being adjacent to some of these venues like concerts,” Thelen said. “Events, commercial and (office) fit in well with the urban context of Grand Rapids, especially when you build into the fabric of (outdoor activities).
Waugh believes Grand Rapids has a good mix of new developments across several industries and within commercial, retail, and residential. She would like to see more businesses that are in or directly impact the artificial intelligence field. She also believes there is a need for quick-service restaurants and convenience stores, and unique retailers that provide more diverse shopping experiences for residents.
Above all, she is confident that businesses like Grand Rapids are beneficial because they see an environment that is built to support them.
“Grand Rapids is a very relational town,” Waugh said. “We want to help people get things done.”
That brand of collaboration intention, as is the fact that the city is part of a moderately growing market with plenty of activities and experiences, strong employment, and higher education, Thelen said.
Sarah Rainero, Economic Development Director for the City of Grand Rapids, said those involved in development for the city develop multiple partnerships to ensure investments become a reality. Additionally, Grand Rapids is a certified Redevelopment Ready Community in Michigan, which means the city has prioritized removing barriers to further development.
“While Grand Rapids works well across the public and private partnerships, there are seats open for more folks at the table that we call Grand Rapids,” Rainero said. “We are a welcoming city and new talent, and investment brings perspectives that keep pushing us forward.”
Yet, there are challenges within that brand. First, growth will be difficult in the coming years with population numbers and births stabilizing or falling in some markets. While the population of 18- to 34-year-olds has grown in Grand Rapids in recent years, that growth may be difficult to maintain.
“You won’t have sustained development without growth, and we’ve seen the plans, ideas, and visions of that from the last 30 to 40 years come to fruition,” Thelen said. “There’s been a flywheel effect with outdoor recreational opportunities and the trail system and everything happening in downtown.”
Grand Rapids’ population as a whole has grown moderately since 2010, increasing by 11,000 residents between 2010 and 2020 and by a few thousand more residents according to estimates since 2020. The growth has been notable because many older Midwestern cities either stagnated or lost population during the same period.
Housing is an important consideration as well, Rainero said. The City of Grand Rapids is taking an approach that is broader than traditional economic development.
“We are actively adding place-oriented developments that support the community being able to live, work, and play in Grand Rapids,” Rainero said. (We) still have work to do with supply and affordability. We want all shapes, sizes, and price points (of housing).”
Inflation could be a threat to future city development, but it doesn’t seem to be an immediate concern. “The market factors certainly drive investment, or the lack thereof,” Rainero said. “Grand Rapids is not slowing down, though, and we are a partner in activating infill and amenities.”
Commercial and institutional development has also accelerated. Downtown Grand Rapids Inc. (DGRI) has documented hundreds of millions of dollars in leveraged investment through its Downtown Development Authority programs.
In one reporting period alone, DGRI stated that every public dollar it invested leveraged approximately $26 in private investment, supporting nearly $140 million in total real estate projects. More recently, public planning documents identified at least $223 million in active downtown development projects, including medical office facilities, residential towers, and innovation-focused office developments.
The goal of keeping young adults attending local universities and colleges like Grand Valley State, Calvin, Cornerstone, and Davenport is another goal. They attract young professionals from other areas around the Midwest and U.S. “We want to give them the choice to start their career and their lives here,” Thelen said.
That requires attracting a diversified economy to drive macro regional growth, Thelen added. Grand Rapids is competing with other midwestern cities like Columbus and Nashville, which have seen significant growth in recent years. Developers and city planners want to attract residents from Chicago who want an urban lifestyle with less traffic and stress but plenty of other advantages.
“The demographics (of lower birth rates) are challenging, but the challenges of growth are far better than the challenges of decline,” Thelen said.
Access to downtown Grand Rapids continues to improve with the growth of the Gerald R. Ford International Airport, adding more direct flights and setting another air traffic record in 2025, Thelen said.
Perhaps the biggest challenge to continued development and growth is access to affordable housing. Various studies sponsored by Grand Rapids and West Michigan economic groups suggest more housing is needed. Rising construction costs and interest rates that remain higher than they have generally been over the last 20 to 30 years create a similar housing dynamic for many growing markets.
“We are doing what we can to deliver on that promise of continued growth,” Thelen said.
