New owner, plans for iconic center in downtown Grand Rapids

Fifth Third building in downtown Grand Rapids
One of the two Fifth Third buildings in downtown Grand Rapids sold to CWD Real Estate Investments.

GRAND RAPIDS, Mich. (WOOD) — A pair of buildings that have been a mainstay in downtown Grand Rapids for roughly a half-century have a new owner with new plans.

CWD Real Estate Investment recently closed on purchasing the two buildings and 723-space parking structure comprising the Fifth Third Center. The properties at 111 Lyon Street NW and 200 Monroe Ave. NW have anchored the Vandenberg Center of the heart of the city’s business district since they were built in 1966 and 1967 respectively.  Old Kent Bank constructed the buildings before it was purchased by Fifth Third Bank more than a decade ago.

While the developer has no precise plans or timeline yet for the buildings, they intend to redesign and refresh the 330,000 square foot spaces, which will offer ground floor retail. CWD plans to keep Fifth Third Bank’s headquarters at the site and create additional office space.

CWD said the project will be part of the city’s process to revitalize Calder Plaza. The city is working with businesses, organizations and residents to transform the home of Calder’s iconic La Garande Vitesse into a more welcoming space for the public.

***CORRECTION: The original version of this story attributed the buildings’ construction to Fifth Third Bank, based on a company news release.  We regret this error, which has since been fixed.***