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EastownLeo

Kregel Publications - Renovation? Wealthy Street.

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733 Wealthy Street, SE
Grand Rapids, MI

 

http://goo.gl/maps/xSZ8I

 

Seems like a conversion to residential may be in the works?

 

http://asthetisch.tumblr.com/post/46304046723/a-quick-mockup-to-get-an-idea-for-how-the-windows

 

tumblr_mk8wgjOzAD1qgug2ko1_500.jpg

 

tumblr_mk8wgjOzAD1qgug2ko2_500.jpg

 

Seems like a concentrated residential setup like this would really push The Winchester and other businesses in the area, acting as a bridge between downtown and east hills / Eastown area.

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Oh I seriously hope something happens with this building soon.  It's such an eyesore 

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This would be a cool building to take a tour.

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733 Wealthy Street, SE

Grand Rapids, MI

 

http://goo.gl/maps/xSZ8I

 

Seems like a conversion to residential may be in the works?

 

http://asthetisch.tumblr.com/post/46304046723/a-quick-mockup-to-get-an-idea-for-how-the-windows

 

tumblr_mk8wgjOzAD1qgug2ko1_500.jpg

 

tumblr_mk8wgjOzAD1qgug2ko2_500.jpg

 

Seems like a concentrated residential setup like this would really push The Winchester and other businesses in the area, acting as a bridge between downtown and east hills / Eastown area.

 

 

That's pretty clever of him to work in the reflections of the buildings across the street. ;)

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That would be such a great anchor for Wealthy. Let's get started! ;)

 

Joe

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1) Buy the corner car wash and the construction storage lot behind that.

 

2) Extend the front of the building all the way to the corner with a modern addition, and build a 4 level parking garage in the back. 

 

3) Become the most epic rehab/infill development ever!

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Is this a real project or just someone's daydream concept?

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1) Buy the corner car wash and the construction storage lot behind that.

 

2) Extend the front of the building all the way to the corner with a modern addition, and build a 4 level parking garage in the back. 

 

3) Become the most epic rehab/infill development ever!

 

 

This.   Brilliant sir.   I'm in.   Let's do this!

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hmmm

 

I heard a rumor a couple months ago that a local developer had an option on the building. . . . .

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gorgeous rehab. If this was a perfect world and I could change one thing, it would be the front entrance...

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gorgeous rehab. If this was a perfect world and I could change one thing, it would be the front entrance...

 

I'd add balconies to the thing, ala Union Square. Bring the inside world outside.

 

I'd heard rumors too of at least one developer looking at this. Kregel must be looking to sell.

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Interesting project.  I'll keep my fingers crossed.  Speaking of this area of Wealthy -- I have a question:  What did that building that now houses a church used to be?  I just can't imagine it was ever built as a church building.  I'm not sure I've ever seen a large commercial building like that with an octagonal cupola on top before...

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Interesting project.  I'll keep my fingers crossed.  Speaking of this area of Wealthy -- I have a question:  What did that building that now houses a church used to be?  I just can't imagine it was ever built as a church building.  I'm not sure I've ever seen a large commercial building like that with an octagonal cupola on top before...

 

From Atomic Object's website (which, interestingly, has a great page on the history of Wealthy Street):

 

 

WealthyStreetBaptistTemple_ca1920_small.

Wealthy Street Baptist Temple (ca. 1920)

 

The Wealthy Street Baptist Temple (now Community Bible Baptist Church) built in 1912, was the first building of its type to be constructed in Grand Rapids and was the original home of the Baptist Bible Institute and Theological Seminary (now Cornerstone College).

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That would be a great building for renovation/infill. Good bones, a parking lot that needs to be downsized, etc. 

 

Joe

 

Interesting project.  I'll keep my fingers crossed.  Speaking of this area of Wealthy -- I have a question:  What did that building that now houses a church used to be?  I just can't imagine it was ever built as a church building.  I'm not sure I've ever seen a large commercial building like that with an octagonal cupola on top before...

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Many new updates on the FB page that is listed in the first post.

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I have heard from a couple sources that this will be a 616 Lofts property.

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If you look at the domain registration for livewealthygr.com, it is registered to Brice Bossardet of Urban Space of Grand Rapids LLC. He's done a few renovations downtown, including the condos on Monroe / Ottawa (with the bad exterior). Heard he's a good guy.

 

Joe

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If you look at the domain registration for livewealthygr.com, it is registered to Brice Bossardet of Urban Space of Grand Rapids LLC. He's done a few renovations downtown, including the condos on Monroe / Ottawa (with the bad exterior). Heard he's a good guy.

 

Joe

 

Brice is involved, but not the developer. 616 is also NOT involved, apparently.

 

http://rapidgrowthmedia.com/devnews/livewealthy.aspx

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With any development in this area I think it is important to think of it's impact on the lower income neighborhood around it. Will it have any effect on property values and property taxes? As wealthy street becomes more desirable to people outside of the neighborhood and since the rent in apartments like these will probably be somewhat higher than most rentals in the area, will the current community find it more difficult to afford rent as rates rise around them? 

 

I think this building has some amazing potential to be turned into something really useful to the neighborhood and street, but I also hope that the businesses going in will serve all   the groups in the community, college students, young families, single professionals, old folks, white, black, people with degrees, people who don't have degrees, upwardly mobile, and those living in poverty. I hope businesses and projects like these serve as places that bring people from different walks of life together not separate them even further.

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With any development in this area I think it is important to think of it's impact on the lower income neighborhood around it. Will it have any effect on property values and property taxes? As wealthy street becomes more desirable to people outside of the neighborhood and since the rent in apartments like these will probably be somewhat higher than most rentals in the area, will the current community find it more difficult to afford rent as rates rise around them? 

 

I think this building has some amazing potential to be turned into something really useful to the neighborhood and street, but I also hope that the businesses going in will serve all   the groups in the community, college students, young families, single professionals, old folks, white, black, people with degrees, people who don't have degrees, upwardly mobile, and those living in poverty. I hope businesses and projects like these serve as places that bring people from different walks of life together not separate them even further.

 

I don't think you need to worry about property assessments and property taxes going up fast any time soon. They're so depressed they could use some stimulation (they can't rise faster then 5% a year or the rate of inflation, whichever is higher, anyway.)

 

http://bridgemi.com/2013/04/billions-more-lost-but-property-value-drop-slowing/

 

You can still pick up a whole host of foreclosures in the surrounding areas. Fears of gentrification and hyper-inflation have been greatly exaggerated, now that the housing market is shaking out a bit more and stabilizing (from its tremendous fall). I don't foresee the rental rates of this building affecting the rental rates of nearby apartments or rental houses. In fact, these are going to be geared toward artists and entrepreneurs (live/work, long-term leases) and not your typical low-income family.

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I'm involved with this project and thought I'd move on from being a lurker and finally make an account here. Yes, this is happening, although there are some changes from the original renderings due to historical preservation issued. The main change is that there wont be windows cut into the front top three floors. Balconies on the rear and east side are still being determined. The ground floor is planned to be retail, with the second floor as co-working space geared towards creative professionals. The rest of the building will be live+work lofts ranging from 1,000-1,700 square feet, with the option of leaving it raw or finished. Due to not being able to add windows to the front, the current plan is to convert the front units into office space. 

 

It's an interesting building as the floors of the front section, which is brick and wood, do not meet level with the floors of the rear section, which is reinforced concrete. So while the building has six floors, the elevator has twelve stops. There are quite a few interesting architectural features, which I'll make sure to get photos of in the next couple weeks. 

 

The developer is The Urban Renaissance Group, which recently renovated the old Nextel building in Cascade into the new A.K. Rikk's store. They also own the Harris Building downtown on the Avenue of the Arts. 

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