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New projects on the West Side


GRDadof3

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Is there a reason it wouldn't come to fruition?  616 seems to not be lacking in capital or ambition.

 

I agree that they have the capital and ambition but its still hard to believe that there is that much demand for market rate apartments. Hopefully their market research is all correct, they get built and leased.

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I agree that they have the capital and ambition but its still hard to believe that there is that much demand for market rate apartments. Hopefully their market research is all correct, they get built and leased.

 

I have a feeling the local lending community has figured out a downtown absorption rate for apartments, based on the last 5 years or so plus a certain percentage increase every year as the market grows (more people drawing more people). It might be 200 a year, maybe 250? All of the current apartment developers are probably watching each other and timing things so that they don't overbuild. Even 616 I bet has a timeline: x project gets to 70% occupancy, pull trigger on Y project so that it's open and ready when x reaches capacity, etc..

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With the waiting lists for existing market rate housing I would say the absorption rate may allow for a substantial number to be built before that may have to happen.  Existing residents want to live in or near downtown, and the key demographic moving to the area is also attracted to the core.    You actually may see the construction momentum increase.   I think long time Grand Rapids homers may see this as too much of a good thing and an over glut of proposals.  We are used to slow conservative good news.  

 

The infrastructure for this type of thing has been slowly put in place over the last 30 years by regional leadership.   I don't think it's unwarranted to assume Grand Rapids has hit a point where desirable residents from outside the area and the state are looking to locate here.  This population increase seems to be happening at a rate inline with the same cities Grand Rapids has modeled itself after.  

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With the waiting lists for existing market rate housing I would say the absorption rate may allow for a substantial number to be built before that may have to happen.  Existing residents want to live in or near downtown, and the key demographic moving to the area is also attracted to the core.    You actually may see the construction momentum increase.   I think long time Grand Rapids homers may see this as too much of a good thing and an over glut of proposals.  We are used to slow conservative good news.  

 

The infrastructure for this type of thing has been slowly put in place over the last 30 years by regional leadership.   I don't think it's unwarranted to assume Grand Rapids has hit a point where desirable residents from outside the area and the state are looking to locate here.  This population increase seems to be happening at a rate inline with the same cities Grand Rapids has modeled itself after.  

 

One person's desirable residents are another person's undesirable residents.

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  • 2 weeks later...

There's a new mixed use project being proposed on parcels 9 through 39 Lexington Ave SW, 7 multiple family dwelling units and a 2 story parking garage. No renderings in the PC agenda packet but I'll keep an eye out for the full agenda.

 

post-2672-0-42681000-1418955453_thumb.jp

 

Edit: this also includes 616 West Fulton and 30 Lexington, the large triangle piece of land that was created when the Seward extension was put in. They're requesting a waiver for parking requirements and a mixed use project with rooftop deck.

 

post-2672-0-37407800-1418956674_thumb.jp

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There's a new mixed use project being proposed on parcels 9 through 39 Lexington Ave SW, 7 multiple family dwelling units and a 2 story parking garage. No renderings in the PC agenda packet but I'll keep an eye out for the full agenda.

 

attachicon.gif9 Lexington - Rockford Mixed Use.JPG

 

Edit: this also includes 616 West Fulton and 30 Lexington, the large triangle piece of land that was created when the Seward extension was put in. They're requesting a waiver for parking requirements and a mixed use project with rooftop deck.

 

attachicon.gifLexington and West Fulton Project.JPG

 

This could be a great infill project!  I look forward to seeing the drawings.  I hope they do the facade on Fulton well.

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This could be a great infill project!  I look forward to seeing the drawings.  I hope they do the facade on Fulton well.

 

The last presentation we had about this project looked very promising. There will be storefronts/façade with student apartments on Fulton and townhouses on Lexington.

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  • 2 weeks later...

I have a small development to share on Bridge Street - excited to share it here after reading this forum for almost 10 years (time flies and a LOT has changed!)  This one is pretty personal so I have the scoop for once.  =)

 

My wife closed on 600 Bridge last week (former pawn shop, Nash's Outlet) and is renovating it into offices for her company, JGR Real Estate.  She has outgrown her offices in East Hills and really wanted to buy (not rent) her new office.  It's exciting to be a small part of a redevelopment project in GR.  Wolverine is doing the build out and ROI design the design.  They're working on permits/more drawings, etc. but things should get rolling in a couple months and be done in early spring.  The second floor has a huge 1500 square foot studio apartment which is really nice and hopefully will be good income for some years until Julie needs it for expansion.

 

Here's the best drawings/floorplans we have now....

 

JGRinterior_zps02e3ffc1.png

 

600BridgePlan_zps2c85968e.jpg

Edited by mgreven
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TBA says, "A mix of small-scale retail, service, entertainment, civic, office and upper-level residential uses are encouraged to enhance the vitality of the areas."

I'm sure she checked into it, but I had to hurriedly search it out. :)

Edited by mgreven
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Yeah...I see that now that it may need permission. She's had so many people working with her on this that are used to these things that I'm assuming they planned for it. There are other offices in the street, too. Hopefully it's an easy approval if it needs it.

Edited by mgreven
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FYI - she said it goes in front of the PC on Feb. 12 to get approved for office.  Hopefully it'll be an easy approval.  The neighbors seem supportive.

 

Regarding the awning...the old owners were saying "That frame is great...you could just put a new awning on it." Um...maybe not.  =)  She was going to have the guys doing cleanout tear it down, but it looks like a bigger job and will have to wait until construction starts. Won't be too long, we hope!

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Throwing up some images on this, and I'll backfill with info in the PC's packet.

 

This is the Rockford Project on the lots near the reconfigured Fulton/Lexington/Seward area on the West Side.

 

It's essentially three new buildings, a large parking ramp, and an addition to the existing building that sits across from Adobe' now.

 

15991110979_3f59c3c336_o.jpg

 

5 stories, 91 units. 10,000 sf of retail/commercial space. Primary residence parking would be provided by the ramp being constructed across the street.

 

 

15991367297_cc779df271_o.jpg

7 (4) bedroom townhouses with attached 116 space parking garage.

 

15991109159_cdb76bef76_o.jpg

 

 

 

The townhouses sort of feel like an afterthought, unless they plan to infill a bit more of them to the South?

 

Edit: Sounds like 18 could be supported eventually.

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The townhouses sort of feel like an afterthought, unless they plan to infill a bit more of them to the South?

 

Edit: Sounds like 18 could be supported eventually.

 

Agreed. The townhouses seem a bit isolated and surrounded by parking. Not sure I would want to live in those. Alternatively if this is the first of two phases, I would build the southern half first and added the "temporary" parking lot (is that what is on the first floor of the parking garage to the south?) where these are currently proposed,

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