GRAND RAPIDS, MI — A push by the city of Grand Rapids to buy the vacant Naval & Marine Corps Reserve Center on Monroe Avenue NW near Riverside Park has fallen through.
The city wanted to purchase the 3.5-acre riverfront property at 1863 Monroe Ave. NW, demolish the two-story building there and partner with a developer to add uses such as housing, a community center and green space.
However, the federal government’s $4.5 million asking price for the property was too high, said Grand Rapids Economic Development Director Sarah Raniero. At such a price, the project wouldn’t have generated a large enough return on investment to pique a developer’s interest…