The ambitious Studio Park development is on track to begin construction, following the recent sale of the two lots on which it will be built. The current plan features some changes, notably an increase in the number of residential units in phase one and an increase in the square footage of Class A office space the project hopes to bring to market.
Jeffrey Olsen, partner with Olsen Loeks Development, said the northbound and southbound business routes on U.S. 131 between Cherry and Oakes streets closed early in February when the transaction was made.
“We also have some right of way work, which is the Ottawa Avenue extension and the utility improvements,” he added.
The utility improvements include installing a new traffic signal at the Ionia Avenue-Cherry Street intersection.
Olsen Loeks Development is a partnership between Olson and J.D. Loeks, who owns Jackson Entertainment LLC. Jackson purchased the two parking lots, Areas 4 and 5, early in February.
Jackson Entertainment is an offshoot of Celebration Cinema.
Crews will begin testing the deep foundations of the worksite in the next two to four weeks, and Olsen anticipated a groundbreaking in either April or May. The time frame will be contingent on weather. Olsen added there will be around 100 parking spots remaining for public use during construction, and the city will lease 300 spaces from Jackson Entertainment when the new parking ramp is complete.
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