Michigan Real Estate News

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Trinity Health Systems Plans Mixed-Use Development in Grand Rapids

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Livonia-based Trinity Health System has its sights set on 10 parking lots in downtown Grand Rapids, but it’s not for a new hospital site. They are seeking $19 million in federal funding to convert the lots into a mixed-used development to ease the city’s affordable housing shortage.  Trinity was one of 319 applicants to submit requests to Kent County for a share of the $127 million awarded to the county in American Rescue Plan Act (ARPA)  funding. The Kent County Board of Commissioners will most likely finalize its remaining ARPA allocations at a November 14 meeting. Trinity Health is exploring additional funding sources for the project, including Brownfield Redevelopment Authority tax credits, Michigan Community Revitalization Program and Michigan Missing Middle Housing Program funds and a philanthropy and capital allocation from Trinity itself.

 

 

Detroit Developer Revamps Plans For Grand Rapids’ Furniture Company Property

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Detroit developer, Sturgeon Bay Partners is revamping its plan for a huge apartment complex southwest of downtown Grand Rapids. The previously announced plan was to convert the historic Sligh Furniture property into a mixed-use development with residential, retail and commercial spaces. The project’s current price tag is at $100 million due to rising construction costs and interest rates. The developer is revising its plans for the concept design and mix of incentives. The original plan was to create a mixed-use devlopment with 753 apartmes, a five-story parking garage and ground-floor retail space.

 

432-Unit High Rise Planned For Grand Rapids

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Spire Investment Properties and Krika Development are proposing 432 market-rate apartments at the southern edge of downtown Grand Rapids. The McConnell is a 10-story, 336,835-square-foot development that covers three lots. The two out-of-state investors hope to build a food hall, microbrewery or distillery, an outdoor lot for food trucks and shipping container-retail  stores. The development would spread over three parcels. They have not disclosed the project’s budget. The developers are seeking special land-use approval from the Grand Rapids Planning Commission to sell alcohol, food and retail at the site.