'Green rush' hits Grand Rapids real estate market

GRAND RAPIDS, Mich. (WOOD) β€” Those hoping to cash in on marijuana in Grand Rapids are working to find places to grow and sell their pot, leading to a scramble that is boosting real estate prices.

The city of Grand Rapids has already OK'd medical marijuana provisioning centers, and those centers will likely serve as the model for the distribution of recreational marijuana.

One of the things that some who advocated for the legalization of recreational use worried about was that it would become a business controlled by wealthy corporate interests, and it looks like that is what happened.

β€œIt definitely takes deep pockets to get involved in this industry,” said Coleman Baar, the president of a small real estate development and brokerage firm looking to help clients navigate the marijuana industry.

The city has been going back and forth on where medical marijuana centers should be allowed. The result is a map that shows the small patches where they may be located, mostly near the borders with Kentwood and Wyoming and a few others spots here and there.

More news at WOODTV.com

 

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