Development Report

Our Development Report provides an analysis of West Michigan’s industrial, commercial, office, retail, and housing development sectors. The report intends to provide those in the development sector with the latest trends and insights regarding development corridors, market demand, and potential future growth areas.

Report Highlights:

Industrial

Demand is there but decision timelines have extended. Tight supply, rising construction costs, and positive absorption are fueling headwinds.

Office

Flight-to-quality! Landlords face a clear choice: reinvest or fall behind. Dated spaces sit idle as elevated construction costs deter full renovations.

Retail

Retail is gaining momentum after a slow start. Regional and national brands lead demand. Prime corridors remain strongest, signaling broader confidence in 2026.

Housing

Multi-family housing held steady as investment activity slowed and pricing adjusted. Demand for affordable single-family homes continues to far outpace supply. First-time homeowners now account for just 21% of purchases.

Outlook for 2026: A Region in Motion

Greater Grand Rapids is in the midst of a generational wave of investment. With the Acrisure Amphitheater opening on the riverfront, the Amway Stadium under construction for Athletic Club Grand Rapids, a nearly $800 million mixed-use development at Fulton & Market in the pipeline, and the Gerald R. Ford International Airport’s $135 million terminal expansion underway, the region is building the infrastructure and amenities of a competitive, growing metro. Across all sectors, the market is active and disciplined—a foundation for sustainable, long-term growth.