- The state awarded two development groups a combined $605 million in tax reimbursement subsidies
- One is a $796 million project to build three high-rises on the Grand River in downtown Grand River
- Michigan will reimburse about 70% of those costs to the developers, including the Van Andel and DeVos families.
Michigan taxpayers will spend over $600 million to cover two-thirds of the costs of two new, large-scale developments in Grand Rapids and Kalamazoo, following approval Monday by state officials.
The bulk of the subsidies will go for a $796 million plan to add three high-rise towers to 7 acres on the Grand River in downtown Grand Rapids, a few blocks east of Van Andel Arena.
The developers — a partnership with family members from the Amway-founding DeVoses and VanAndels and Chicago-based Magellan Development — sought $560.9 million through the state’s Transformational Brownfield Plan…