Mégwé Odan Tower
On Jan. 15, 2020, Waséyabek Development Company, LLC (WDC) and Gun Lake Investments announced the joint acquisition of McKay Tower 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 our 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 rooftop lounge and deck with exceptional views of the city.
“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.”
“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 the 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.”
ADDRESS: GRAND RAPIDS, MI
ACQUISITION DATE: JANUARY 2020
WDC OWNERSHIP: 50%