David Frey, the former banking executive who played an instrumental role in Grand Rapids’ downtown growth over the past 30 years, has died. He was 81.
News of Frey’s death circulated tonight at the Economic Club of Grand Rapids’ annual dinner, according to several members in attendance. An obituary through Metcalf & Jonkhoff Funeral Service indicates Frey “passed peacefully” on Wednesday.
“David Frey was a city builder,” said Randy Thelen, president and CEO of economic development organization The Right Place Inc. “He encouraged me, (former The Right Place leader) Birgit (Klohs) and everyone at The Right Place to reach higher. We are better as a community because of David.”
Frey, the grandson of John E. Frey, who founded Union Bank and Trust Co. in 1918, would go on to lead the bank as president and chairman through 2004 until its merger with JP Morgan Chase. He also served in the U.S. Navy, including a tour of duty in the Vietnam War.
Frey also played a key role in local philanthropy, serving on the boards of the Grand Rapids Community Foundation, United Way of West Michigan, the Gerald R. Ford Presidential Foundation, and The Frey Foundation, which was founded by his late parents in 1974.
In 1993, Frey — along with former Amway Corp. President Dick DeVos and former Old Kent Bank CEO John Canepa — co-led Grand Action, a business group that pushed some of the largest downtown developments that are credited for generating spinoff economic activity. Those projects included Van Andel Arena, DeVos Place Convention Center, the relocation of Michigan State University’s medical school to Grand Rapids and the Secchia Center, the Grand Rapids Downtown Market, renovation of DeVos Performance Hall and the Grand Rapids Civic Theater.
Rick Baker, president and CEO of the Grand Rapids Area Chamber of Commerce, called Frey a “beloved business and community leader.”
“It is with profound sadness that we mourn the loss of David Frey,” Baker said in a statement. “David embodied all of the values of true leadership. He always believed Grand Rapids could be the best city in the country and took action to make it a reality. The Chamber and our members are thankful for all he did to make our community better and share the grief of those who mourn his loss. We extend our deepest sympathies to David’s family and all who knew and loved him.”
In 2020, Frey helped lead the formation of Grand Action 2.0, which formed after the original organization took a two-year hiatus.
Last month, Grand Action 2.0 honored Frey as chairman emeritus for his contributions to Grand Rapids’ downtown development.
“Both 1993 and 2023 are milestones in Grand Action 2.0’s history,” Grand Action 2.0 co-chair Dick DeVos said in a statement last month on Frey’s recognition. “David Frey stands at the intersection of these dates and has been a visionary, wise counselor and guiding hand in transforming our community in the 30 years that lie between.”
This is a developing story.
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