Duane Faust wants to take the 'mystery' out of his project

Atlanta ? There's new information about a proposed development along the Grand River in Grand Rapids.

A company called The Grand Rapids Development Corp. owned by Duane Faust sent the city a letter on May 19th expressing interest in 15.8 acres of city owned land.

Today Faust's company released documents they hope will support their claims of jobs and growth coming to the area because of the River Grand project. ?In addressing questions from the task force, we wanted to go a step further in ?demystifying' The River Grand, and show the community the depth we can bring to Grand Rapids if selected to provide a full proposal,? says Faust.

Faust also said, ?We are now looking to the City to lead the review process in an efficient and effective manner and want to ensure they have what they need from us at this stage.?

Faust also said The Grand Rapids Development Corp. will work with the City of Grand Rapids to make the project a reality. ?We are ready to work with the City to establish additional key milestones and deliverables to ensure maximum confidence at every stage,? says Faust. Faust's company is seeking to develop 36 acres in downtown Grand Rapids. Under his proposal 25% would turn into housing, 25% would be office space, 35% allotted to retail and entertainment and 15% general development. The total investment promised by Faust is projected to be between $1.5 billion and $2.5 billon dollars. ?The River Grand is able to offer the City of Grand Rapids, a consistent and cohesive development site inclusive of both private and public parcels,? Faust added. As a result, we will be able to initiate our construction schedule on the private side of the development building down toward the City-owned property while allowing 24 months to relocate services without costly delays ? a factor we know is critical to the City.? GDC also says it plans to introduce the local members of The River Grand project team in the coming weeks.

WZZM 13 is gathering reaction from members of a local task force studying the project, and we will have their reaction on WZZM 13 News at 6pm.

http://www.wzzm13.com/pdf/GreenbergTraurigLetter.pdf

http://www.wzzm13.com/pdf/HillInternationalScopeServices(Letter).pdf

http://www.wzzm13.com/pdf/PacificEverhartInvestmentGroupCommitmentLetter05-23-062.pd