Grand Rapids OKs incentives for 4 mixed-use developments totaling 200 housing units
Posted By: MiBiz on December 6, 2022. For more information, please click here to read the source article.
Grand Rapids city commissioners have approved tax incentives for four mixed-use projects that would add 200 housing units across the city.
The approvals include 15-year Neighborhood Enterprise Zone tax exemptions for the Lofts on Grove multi-family project in the Creston Neighborhood as well as a mixed-use development at 280 Ann St. NW along the Grand River.
Commissioners also signed off on brownfield incentives for a United Methodist Community House redevelopment at 900 S. Division Ave. as well as the Boston Square Community Hub project on the city’s south side.
First Companies Inc. is developing the $24.4 million, 110-unit Lofts on Grove apartment project at 1329 and 1359 Plainfield Ave. NE. Plans call for a mix of studios, one- and two-bedroom apartments, and a parking lot immediately west at 1367 Grove Place NE. The four-story development will also contain about 3,000 square feet of retail.
Apartment rents would range from 80 to 100 percent of the area median income. The developer also received approval for slightly more than $1 million in reimbursements for brownfield-eligible activities on site.
The commission also approved Neighborhood Enterprise Zone incentives for a 44-unit, market-rate apartment project planned along the Grand River. Project plans call for adding a four-story, 26,000-square-foot addition to the existing office building at 280 Ann St. NW, as MiBiz previously reported.
Compass Insurance Agency CEO Jack Hoedeman, who is a co-owner of the office building on site, is developing the $6.5 million project.
Meanwhile, commissioners approved a $750,000 brownfield reimbursement plan for the Boston Square Community Hub project, a component of the larger Boston Square Together redevelopment plan. AmplifyGR is leading a two-story, 11,000-square-foot early childhood education center with other shared community uses.
Anticipated amenities include a health and wellness clinic, a multi-purpose room, cafe and shared workspace. The project on Dec. 1 also received $4 million from Kent County’s American Rescue Plan Act (ARPA) funds.
“I’ve heard from a number of folks who live in the neighborhood and are excited to see the community hub and child care center,” Grand Rapids Mayor Rosalynn Bliss said during the commission’s Committee of the Whole meeting today. “I know a lot of the neighbors continue to be engaged in this work and are in it for the long haul.”
Finally, United Methodist Community House received $750,000 in brownfield incentives for a four-story mixed-use project planned at 900 S. Division Ave. The planned 53,000-square-foot building would contain an adult activity center, early childhood education center, intergenerational education center, and a health food market on the first floor. Forty-six senior housing units would also be included on the upper floors of the $19 million project.
The United Methodist Community House project also received $1 million from Kent County’s share of ARPA funds.
CORRECTION: A previous version of this story incorrectly stated the size of a planned early childhood education center at the Boston Square Together project. It is 11,000 square feet.
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