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Developer Pitches 57-Apartment Plan For Downtown Grand Rapids
/in Grand Rapids /by Tracy WillisW&S Development LLC, a Bazzani Building Company affiliate, is pursuing tax incentives for a proposed mixed-use development in downtown Grand Rapids. The Grand Rapids City Commission set a public meeting for January 24 to hear feedback on the application for a Brownfield Plan Amendment and a Neighborhood Enterprise Zone. The developer plans to build two new five-story buildings on the vacant lot at 415 Sheldon Ave. SE. The buildings will include retail space and 57 market-rate apartments. The project is called Wealthy & Sheldon Lofts, with one of the buildings facing Wealthy Street SE, and the other facing Sheldon Avenue SE. The Wealthy Street building will also host 1,800 square feet of commercial space. The 57 new apartments will be divided between the two buildings.
Builders Reuse, Recycle and Repurpose
/in Grand Rapids, National /by Tracy WillisBazzani Building Company completed the 730 Leonard Project last year in Grand Rapids. The project is a prime example of adaptive reuse. Renovating existing buildings into new housing is a growing trend. Over the last two years in the U.S., adaptive reuse apartments increased by 25%. Empty office buildings, dilapidated factories, vacant healthcare buildings and old churches have been revamped and repurposed in a sort of nationwide recycling project. In 2020 and 2021, recycling old buildings added 28,000 rentals onto the market. RentCafe predicts that over 77,000 apartments are currently being reprocessed. The building recycling trend is outpacing new construction.
Grand Rapids Booms With New Projects
/in Grand Rapids /by Tracy WillisGrand Rapids is close to a achieving a record number of new developments. Despite supply chain issues, inflated costs and interest rates, and labor shortages, the city reported big numbers for new private investment in 2021. According the Grand Rapid’s Economic Development Director, it’s set to outpace 2021’s record again this year. Although its 2022 outcomes won’t be reported until the first quarter of 2023, the data is obvious. Although the city wants to retain the companies that have found their home in Grand Rapids and attract new ones, its biggest issue is an a housing shortage across all price points. Nine projects are in the works for 2023, promising to bolster Grand Rapids’ economy. They include business incubators, a community kitchen, co-working and retail spaces, a healthcare facility and a few affordable housing projects.