News Summary
The Grand Rapids city board has approved a significant tax incentive of $3.8 million to support the construction of a new three-story apartment building. The project, which will consist of 26 units, is aimed at increasing affordable housing options in the city. Construction is set to begin in March 2026, with completion expected by February 2027. This initiative reflects the city’s commitment to addressing housing shortages and supporting diverse income levels within the community.
Grand Rapids Approves $3.8 Million Tax Incentive for New Apartment Building
The Grand Rapids city board has approved a tax incentive valued at $3.8 million to facilitate the construction of a new three-story, 26-unit apartment building. This development will be situated on a vacant lot near Wealthy Street SE and Division Avenue, specifically at 443 Sheldon Ave. SE. Construction is anticipated to commence in March 2026, with an expected completion date set for February 2027.
Details of the Project
The funds from the approved tax incentive will play a crucial role in financing the apartment building, which aims to enhance the availability of affordable housing options within Grand Rapids. The project is being represented by Bryce Hansen of Stransen Development Group, which is dedicated to contributing to the city’s housing goals.
Covering an area of 0.2 acres, the new apartment building is designed to accommodate a diverse range of income levels. The inclusion of a mixed-income approach within the building is part of the city’s ongoing initiatives to provide various housing opportunities and address the existing housing shortages.
Significance for the Community
This tax incentive is aligned with broader efforts by the city to tackle the pressing issue of housing needs in Grand Rapids. By offering this financial support, city officials hope to bolster the development of affordable living options, making it easier for residents to find suitable housing.
The approval of this project signals a commitment to developing urban spaces that meet community demands while enhancing the quality of life in downtown Grand Rapids. The anticipated new units will not only provide essential living accommodations but also stimulate economic growth through job creation during the construction phase and beyond.
Background Context
Overall, the approval to construct this three-story apartment building marks a positive step toward fulfilling the housing needs of Grand Rapids and enhancing the living conditions for current and future residents.
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Additional Resources
- MLive: Vacant Lot in Downtown Grand Rapids Eyed for 26-Unit Apartment Building
- Wikipedia: Affordable Housing
- WZZM: Whitmer Awards $4 Million for 171-Unit Apartment Complex in Grand Rapids
- Google Search: Grand Rapids housing projects
- WDIO: Construction Starts on The Mill Miss Apartments in Grand Rapids
- Google Scholar: Grand Rapids housing policy
- MLive: New Grand Rapids Housing 171-Unit Apartment Building Receives State Loan
- Encyclopedia Britannica: Urban Development
- Crain’s: State Backs $4M Loan for Grand Rapids Mixed-Use Housing Project
- Google News: Grand Rapids construction projects
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.
