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OVD Insurance to Transform Historic Building in Grand Rapids

OVD Insurance is set to transform this historic building into its headquarters, creating jobs and investment in Grand Rapids.

News Summary

Grand Rapids is eager for the upcoming transformation as OVD Insurance plans to purchase and renovate a historic seven-story building at 37 Ottawa Ave. NW. The move signifies a major investment in the local economy with the creation of 131 new jobs and a capital investment of over $12 million. The project maintains existing tenants and honors the building’s historical significance while modernizing its facilities. Set to open later in 2025, this initiative underlines OVD’s commitment to the community and the local workforce.

Exciting Times Ahead for Grand Rapids as OVD Insurance Takes on Historic Building

Grand Rapids is buzzing with excitement as OVD Insurance has announced its plans to purchase a stunning seven-story building located at 37 Ottawa Ave. NW right in the heart of downtown. The announcement, made by the regional economic development agency The Right Place, Inc., was welcomed with open arms on March 27, 2025. This new chapter not only marks a significant investment in the community but also promises to offer a wealth of job opportunities for the local workforce.

A New Headquarters Coming Soon

OVD Insurance is rolling up its sleeves and getting ready to transform 30,000 square feet on the third and fourth floors into their brand new headquarters. The company has exciting plans for the space, which will be designed to enhance their corporate culture and improve professionalism among employees. The best part? They are also committed to retaining existing tenants in the building, meaning that local favorites, like the popular taco restaurant Barrio, can continue to thrive in their current space.

Historical Significance of the Building

The building at 37 Ottawa is a piece of Grand Rapids history, originally constructed around 1890 and once home to the Grand Rapids Refrigerator Company. It has undergone significant redevelopment in recent years, thanks to CWD Real Estate Investment, the current owners. They acquired the property in 2012 and have been dedicated to restoring its original charm, including its distinctive façade and window arches, while also modernizing essential systems like ventilation and electrical infrastructure.

Job Creation on the Horizon

As part of this ambitious project, OVD Insurance anticipates creating an impressive 131 new jobs over the next five years, providing a welcome boost to the local job market. The company’s commitment to attracting top talent is clear, and they understand that investing in their workforce is key to success in the competitive insurance industry.

Significant Investment to Fuel Growth

Financially, OVD is making a significant commitment to the Grand Rapids community with an anticipated capital investment of at least $12,040,000. And they’re not alone in their efforts; the project has received a substantial $1 million grant from the Michigan Business Development Program, courtesy of the Michigan Economic Development Corporation. This kind of support showcases the state’s dedication to helping businesses grow and flourish.

The Future Looks Bright

With the ongoing collaboration between OVD Insurance and organizations like The Right Place and MEDC, the foundation for future success is firmly in place. The company plans to make the big move into their new building later in 2025, and there’s an air of anticipation surrounding the entire project.

Summary

In summary, Grand Rapids has much to celebrate with OVD Insurance’s exciting plans to transform a historic building into its new headquarters. The creation of jobs, a significant financial investment, and a commitment to the community are all points that showcase why this project is a win for everyone involved. As OVD sets to take this monumental step, the future for both the company and the local community looks exceptionally bright!