Michigan residents may be interested in the reasons behind renewed commercial growth along a busy route in one of the state's cities. Stadium Drive in Kalamazoo has seen increased commercial growth for several years. According to the chief operating officer for Hinman, a commercial property development company, there are numerous reasons for the area's newfound popularity among businesses.
One of the primary reasons is the location. The street is a significant traffic artery that sees more than 25,000 vehicles every day travel the route between suburban outposts and the city's urban core. Many drivers use Stadium Avenue as an alternative to West Main Street and South Westnedge Avenue. It's also situated close to Western Michigan University, which gives businesses access to the campus's student population.
The developer said that recent development has also spurred continued growth. He said the area now feels fresh and new after several major investments, including his own company's development of The Shoppes on Stadium, a new retail space. The new development has been managed in a way that has created synergy between the new businesses and the neighborhood's more established businesses.
Redeveloping areas into fresh and new commercial centers is a primary focus for many cities across the country. However, development isn't as easy as simply buying land and constructing buildings. Developers often must navigate a maze of government and regulatory approvals, as well as obtain buy-in from surrounding businesses and residents. An experienced real estate attorney may be able to advise a developer on how best to move his or her vision from idea to finished product. The attorney could also represent the developer in any hearings, town meetings, negotiations or transactions.
Source: mlive.com, "7 reasons Stadium Drive in Kalamazoo is popular for retail growth", Al Jones, December 28, 2013