Wyoming, MI

Project Overview

In 2003 Granger Group broke ground on the first fully integrated, 100% LEED certified Health Village in the world. The 180-acre Village offers a world-class health complex, including acute care, wellness, retail, senior living, hospitality, and educational services.

Project Strategy

Metro Health Village evolved through a partnership between Metro Health Hospital and Granger Group.  Granger Group brought the vision, required investment, and financing expertise to the development, delivering a complex financial solution that incorporated the following elements: 

  • Partnered 50/50 with Metro Health Hospital in the acquisition of the 180-acre Village campus. 
  • Secured non-recourse financing for the Village’s land, roads and infrastructure.
  • Guaranteed the purchase and demolition of the former hospital campus, eliminating a multimillion dollar demolition and disposition liability from the hospital’s financial statement. 
  • Structured a sale/leaseback and purchased five outpatient clinics from the hospital, infusing $13 million of cash and liquidity for new hospital construction, while allowing Metro Health to maintain control of the properties through a  long-term lease and option to repurchase. 
  • Developed a 62,000 square foot professional office building connected to the new hospital and structured an operating lease that required no capital investment from Metro Health, thus eliminating any negative impact on  their bond borrowing capacity.

"We have been working with Granger Group on the development of our 180-acre Metro Health Village over the past several years, and the Village is now becoming a reality.  It has been a pleasure to work with Granger Group, and we are very excited about the end result."

Carrie Knobloch, VP of Property & Construction Management, Metro Health

Together, these two award-winning organizations turned a vision into reality and were recognized by The Grand Rapids Business Journal as 2008 Newsmaker of the Year for the Village’s long-term economic promise to the surrounding community.