We have a set of grandparents 15 minutes away and the other set live overseas. Kids/we have good relationships with all of them - I'm not sure the kids are noticeably closer to the 'home' grandparents really.
You've had some really good advice on here - my kids are too old for video calls to have been much of a thing when they were little, but I think something like a FaceTime story slot is a lovely idea.
The 'away' grandparents used to come 3 or 4 times a year, and stay with us for about a week at a time. They are super-helpful around the house and we have a lot of space, so it was good having them to stay, but I can see how an Air BnB arrangement might work well for everyone too. We go there once a year - it was more frequent before the kids started school.
They have really built traditions for visits, which the kids remembered and looked forward to from quite a young age (e.g., there is always a day out to the local zoo - which still happens now even though the kids are teens).
We also knew that if we needed help, they'd come over straightaway. It's never arisen for us, but my SIL was very ill a couple of years ago and Granny was over within 24 hours.
And this year, my eldest daughter and the eldest cousin are travelling over to see the grandparents on their own. Long distance can all work out well!