Two Michigan Tribes Announce Joint Venture to Purchase McKay Tower in Grand Rapids

Two Michigan Tribes Announce Joint Venture to Purchase McKay Tower in Grand Rapids

Two Michigan Tribes Announce Joint Venture to Purchase McKay Tower in Grand Rapids

Non-gaming investment will strengthen tribal communities and downtown business district

Grand Rapids, Mich. (Jan. 15, 2020) – Gun Lake Investments and Waséyabek Development Company today announced the joint acquisition of McKay Tower, located at 146 Monroe Center NW in downtown Grand Rapids. The acquisition represents a rare co-investment by the non-gaming economic development entities of two Michigan Native American tribes. For both tribes, purchasing McKay Tower represents an opportunity to have a positive impact for their tribal citizens and the entire community.

“We are excited to invest in such an iconic and visible property in downtown Grand Rapids,” said Deidra Mitchell, president and CEO of Waséyabek Development Company. “It’s a great building with a great legacy. It has many new enhancements, and it serves as a beacon of commerce in the downtown area.”

McKay Tower is the fifth tallest building in Grand Rapids. It is a mixed-use development featuring commercial, retail and office space, a first-class event venue, conference rooms and three floors of luxury apartments that include a roof-top lounge and deck with exceptional views of the city. No operational changes are planned for the building. Under this new co-investment, the building will continue to offer apartment, office, retail and commercial space for leasing, as well as venue space for special events.

“When McKay Tower came on the market, we believed it represented an attractive acquisition opportunity and we were excited about the opportunity to continue its historic legacy in downtown Grand Rapids,” said Kurtis Trevan, CEO of Gun Lake Investments. “As we continued to explore the opportunity, we thought it could be a great opportunity for us to partner with Waséyabek Development Company.”

The history of the building dates back to 1914 when Grand Rapids National Bank constructed a four-story building on the site. In 1926, 12 additional stories were added; two more stories were later added in 1940. In 1942, the building was renamed McKay Tower after being purchased by local resident, Frank McKay.

“As a Native American tribal community with deep ancestral roots in the region, we have a historical bond with the land around Grand Rapids,” said Bob Peters, Tribal Council Chair for the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians. “We are proud of Gun Lake Investments to have invested in such an important property on behalf of our citizens.”

The sale of the building from Steadfast Property Holdings to Waséyabek Development Company and Gun Lake Investments totals $17.5 million.

“Our tribal members and the downtown Grand Rapids area will benefit from this rare partnership,” said Jamie Stuck, Tribal Council Chair for the Nottawaseppi Huron Band of Potawatomi Indians. “McKay Tower will be effectively managed, generate jobs and career development opportunities, promote economic activity in Grand Rapids, and will be a source of pride for our tribal communities.”

About Gun Lake Investments
Gun Lake Investments (GLI), which is 100% owned by the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians of Michigan, makes direct investments into a diversified portfolio of real estate, operating companies, and credit. Founded in 2014, GLI is focused on assisting the Tribe in achieving financial sovereignty and diversifying its economy away from gaming. For more information, visit gunlakeinvestments.com.

About Waséyabek Development Company
Waséyabek Development Company (WDC), LLC, is a 100% Tribally-owned holding company that manages the Nottawaseppi Huron Band of Potawatomi’s non-gaming economic development activities. By fostering the development of a stable diversified economy for members of the Band, WDC seeks to contribute to the Tribe’s long-term sustainability and economic self-sufficiency by providing revenue and diverse employment opportunities for Tribal members.

Nation-building and Tribal community expansion are supported by revenue generated through the profitable operation of WDC’s subsidiary companies, which have the added benefit of boosting the economies of the communities in which they are located. Our strategy includes a phased approach of passive and active investments with businesses operating in the commercial and federal sectors. For more information, visit waseyabek.com.

McKay Tower
For more information, visit mckaytower.com.

Baker Engineering Sponsors GVSU School of Engineering Senior Capstone Program Award Winning Team

Baker Engineering Sponsors GVSU School of Engineering Senior Capstone Program Award Winning Team

Baker Engineering Sponsors GVSU School of Engineering Senior Capstone Program Award Winning Team

Baker Engineering, LLC, a subsidiary of Waséyabek Development Company, LLC, sponsored a team of mechanical and electrical engineers for the Grand Valley State University (GVSU) School of Engineering Senior Capstone Program. This team of engineering students was tasked with designing and building a small engine altitude testing apparatus capable of simulating altitudes from sea level to 20,000 feet. The project had a timeframe of seven months, kicking off in January and concluding the end of July.

Friday, August 2nd, GVSU hosted their Engineering Design Conference 2019. All of the teams presented their finished projects, and sponsors were invited to participate in the celebration event. Baker Engineering representatives Mark Dorner, Levi Roodvoets, and Noah Hopson received the Outstanding Industry Sponsor award in recognition of Baker’s dedication and commitment to the School of Engineering Senior Capstone Program.

“It was a team effort between the students and the team at Baker. The award is a reminder of the teamwork needed to make any project, especially one this challenging, a success,” Baker Senior Project Engineer, Levi Roodvoets, said about the award.

Noah Hopson, Project Engineer at Baker and graduate of GVSU, has firsthand experience with the capstone program from the sponsor and senior team positions. “I was lucky to have a challenging, multi-disciplinary project during my own capstone experience. I thought it was important to offer the same type of challenge and support as we discussed the possibility of sponsoring a project at GVSU that offered a real value for Baker Engineering. Some projects are lower priority or wishlist projects that may never see use, but we have real engine testing applications for our project as soon as it is delivered.”The GVSU senior team did a tremendous job from start to finish. They took home the most prestigious award – the Project of the Year. The team consisted of Brian Arcangeli, Olen Berezecky, Dylan Coolidge, Nathan Esch, Edward Whaley, and former Baker intern Grant Borregard. The team was guided by Baker’s engineers who have extensive knowledge and experience in a wide range of thermal-fluids and research and development. GVSU professors and lab supervisors also assisted and provided technical support. Overall, the contributions of the GVSU staff and sponsorship teams helped to set the 2019 capstone program apart from the rest.

Baker is proud to sponsor such a successful team, support GVSU’s capstone program, and mentor these young professionals into the workforce!

Baker Engineering Recognized in Engine Builder’s “Engine of the Week” Article

Baker Engineering Recognized in Engine Builder’s “Engine of the Week” Article

Baker Engineering Recognized in Engine Builder’s “Engine of the Week” Article

Baker Engineering, LLC, a subsidiary of Waséyabek Development Company, LLC, was recently featured in Engine Builder’s “Engine of the Week” article

The company built a Twin Whipple 540 cid Big Block Chevy Engine, which is an incredibly unique build that is generating a good amount of buzz in the industry. Mike Baker, at MBi Auto, is installing the engine in a Brenthel Industries trophy truck.

TJ Grimes, who is in charge of performance sales for Baker, said that “The customer wanted something for a trophy truck that had brutal power everywhere and was something that stood out because it’s going to be a little mix of race and show. Because of that, the engine is nicely appointed inside and out.”

Grimes continued, “The engine is currently set up to make about 2,000 horsepower on the short runs and about 1,400-1,500 horse for endurance running. With the Holley Dominator EFI, the customer will have four switchable tunes on it, and the engine is running on e85.”

Congratulations to Baker Engineering for a job well done!

 

Deidra Mitchell, President & CEO of Waséyabek Development Company, LLC, Speaks on Panel at MEDC Tribal Economic and Government Contracting Forum

Deidra Mitchell, President & CEO of Waséyabek Development Company, LLC, Speaks on Panel at MEDC Tribal Economic and Government Contracting Forum

Deidra Mitchell, President & CEO of Waséyabek Development Company, LLC, Speaks on Panel at MEDC Tribal Economic and Government Contracting Forum

Deidra Mitchell, President & CEO of Waséyabek Development Company, LLC was invited by Tom Durkee, business development manager for the Michigan Economic Development Corporation (MEDC) to be one of three panelists addressing the Tribal Economic and Government Contracting Forum in Petoskey, Michigan on May 1st, 2019. Also invited to speak on the panel were Kurtis Trevan, President & CEO of Gun Lake Investments and Troy Clay, President & CEO of Mno-Bmadsen.

Deidra spoke about WDC’s successes and challenges encountered while building a successful Tribal economic development company, with the overarching goal to create a genuine learning environment through the sharing of authentic experiences.

Deidra highlighted the fact that strategic plans are imperative and as unique as the Tribes that create them. Pointing to the fact that collaboration often takes place between the three Potawatomi Tribes of Lower Michigan (Nottawaseppi Huron Band of the Potawatomi, Match-E-Be-Nash-She-Wish Band of Potawatomi Indians, and the Pokagon Band of Potawatomi Indians) and that the three Tribes have similar foundational goals, Deidra explained that their approaches to economic development differ. “Even if two Tribes were to have the same exact strategic goals, they are going to go about accomplishing them differently,” Mitchell said. “They will have different starting places, resources, risk appetites, governance, and missions, as well as leadership styles. So we shouldn’t be afraid to lean on, learn from, and help one another.”