Kent County rejects $2.5 million offer for downtown property from Secchia-controlled real estate firm | MLive.com:
"GRAND RAPIDS, MI – Kent County has rejected an offer to buy property along the east side of the Grand River in downtown Grand Rapids from a company partly owned and managed by former Ambassador to Italy Peter Secchia.
Secchia’s SIBSCO LLC's proposal to buy property at 511, 519 and 525 Monroe Ave. NW for $2.5 million and build a mixed-use development was the sole offer for land, which was being offered for sale by the county.
The bid on the property, behind the downtown U.S. Postal Service facility and the DeVos family's RDV Corp.-owned Olds Manor, also included the county's parcel across the street at 520 Monroe Ave. NW.
The county paid $2.8 million for the land in 2004 as a possible new location for its offices amid discussions for a hotel on Calder Plaza - where the county building and Grand Rapids City Hall are located - that never materialized."
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