News Summary
Grand Rapids, MI, has made strides in addressing housing shortages with the approval of various projects, including plans for 248 new housing units across multiple sites. Key developments include the conversion of commercial properties and new affordable housing options as part of a comprehensive initiative, fueled by tax incentives. Estimated investments for the projects total approximately $59.5 million, laying the groundwork for improved living options for residents in the city.
Grand Rapids, MI has taken significant steps towards addressing housing needs in the city with the approval of multiple housing projects, including a new indoor shooting range and an industrial building in September 2023. Key developments were presented to local planning commissions and city leaders, resulting in favorable decisions that will introduce more affordable housing options for residents.
A Grand Rapids board has approved tax incentives for three commercial property conversions designed to create a total of 248 new housing units. These housing tax increment financing plans received backing from the Grand Rapids Brownfield Redevelopment Authority, enabling substantial investments into the community.
The combined cost of the three new projects is approximately $59.5 million. One of the notable transformations will occur at the Ledyard Building, located at 125 Ottawa Ave. NW, where 36 apartments will be developed as part of a partial conversion.
At 4325 Breton Ave. SE, a shuttered Family Fare store is set for partial demolition to pave the way for 168 apartment units, named Breton Meadows. This project, spearheaded by SW Real Estate Investment, is estimated at $36.4 million and will benefit from $14.9 million in brownfield reimbursements spread over 25 years. Importantly, 82 units within Breton Meadows will be allocated for households earning between 95-100% of the area median income (AMI).
In addition, a four-story mixed-use building at 280 Anne St. NW is on the drawing board, featuring 44 apartments comprised of a mix of studio and one-bedroom units. Within this development, 10 studio units and 5 one-bedroom units will be offered at affordable rates, targeting households earning no more than 85% and 95% of AMI, respectively. The budget for this project is approximately $11.7 million, with expected brownfield incentives nearing $4.3 million.
The redevelopment of the Ledyard Building represents a $11.4 million investment that aims to create both one- and two-bedroom apartments on its upper floors. Projected brownfield reimbursements for this venture could reach as much as $4.6 million over a period of 30 years, including around $3 million designated to support eight affordable units for households earning 60% of AMI.
The incentives granted for housing tax increment financing were made possible through a 2023 state law that expands Michigan’s brownfield program specifically for affordable housing projects. This legislative move significantly enhances the capacity of local governments to develop comprehensive housing solutions aimed at providing more accessible living options for low- and moderate-income households.
Final approval of the incentives is still pending from the Michigan State Housing Development Authority, marking the last step before the projects can fully proceed. The anticipated developments represent a crucial investment not only in physical structures but also in the future of affordable housing within Grand Rapids, ensuring that a diverse range of residents can find suitable homes within the city.
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Additional Resources
- MLive: New Homes and Indoor Gun Range in Grand Rapids
- Wikipedia: Affordable Housing
- WOODTV: Housing Complex with Coffee Shop
- Google Search: Grand Rapids Housing Projects
- Crain’s Grand Rapids: Housing Incentives for New Projects
- Google Scholar: Housing Incentives Michigan
- Fox 17: Affordable Housing Project in Grand Rapids
- Encyclopedia Britannica: Brownfield
- MLive: Affordable Housing Projects in Grand Rapids
- Google News: Grand Rapids Affordable Housing
Author: STAFF HERE GRANDRAPIDS WRITER
GRAND RAPIDS STAFF WRITER The GRAND RAPIDS STAFF WRITER represents the experienced team at HEREGrandRapids.com, your go-to source for actionable local news and information in Grand Rapids, Kent County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as ArtPrize, Festival of the Arts, and World of Winter. Our coverage extends to key organizations like the Grand Rapids Chamber of Commerce and Grand Rapids Community Foundation, plus leading businesses in furniture, healthcare, and technology that power the local economy such as Steelcase, Spectrum Health, and Meijer. As part of the broader HERE network, including HEREDetroitMI.com, HERENorthville.com, HERENovi.com, and HEREPlymouth.com, we provide comprehensive, credible insights into Michigan's dynamic landscape.
