Posted May 21, 2014, 10:32 AM
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Join Date: Nov 2010
Posts: 2,960
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Lots of residential on the way.
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124-year-old furniture factory near Downtown Market should be ready for residents in 2015
By Jim Harger.
Developer Mike Jacobson says residents could begin moving into the 83-unit “Klingman Lofts” apartment project he is developing in a 124-year-old furniture factory near the Downtown Market by the middle of the summer in 2015
“We should be ready to start construction in the very near future,” Jacobson said on Tuesday, May 20 after the City Commission gave its approval to a series of tax breaks for the $32 million renovation.
Jacobson needed the approvals to begin renovating the four-story factory at 48 and 60 Wealthy St.SW, across the street from the Downtown Market, which opened last year.
Used most recently as a warehouse for Klingman’s Furniture Co., the giant brick building is being renovated into 83 apartments for low-income residents. The project also will include 15,000 square feet of ground-floor commercial space and a new 40,000-square-foot parking structure for residents.
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The Fulton Group plans to convert vacant office building into market rate apartments
By Jim Harger.
A vacant office building along East Fulton Street will be converted into eight market rate apartments and offices for the building’s owner, The Fulton Group.
Josh Smith, founder and partner of The Fulton Group, said the former Alpha Women’s Center at 1055 E. Fulton will be converted into apartments on the first and second floor while the lower “garden” level will be used as offices.
On Tuesday, May 20, city commissioners set a June 3 public hearing on the Fulton Group’s request to have the property designated as an “Obsolete Property Rehabilitation District”. The designation will give the property owners a 10-year abatement on their property taxes.
The Fulton Group, currently headquartered down the street at 928 E. Fulton Street, owns and manages about 150 apartments in the city of Grand Rapids. Smith said they plan to have the conversions completed by late winter.
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616 Development mum on plans for old West Side building it bought for $1.6 million
By Jim Harger.
John Hyatt, owner of John S. Hyatt & Associates, says he’s not sure what the new owners of 420 Alabama Ave. NW will do with the rambling red brick building he has occupied for the past 15 years.
And the new owners, 616 Development LLC and Rockford Development Group, are not saying, either.
“At this time, we are in the very early stages of planning and as details become finalized we plan to share our vision for this project,” Monica Clark, director of community development for 616 Development, said through a spokesperson.
Hyatt sold the building in February for $1.6 million, according to city records. He is planning to move this summer into a new building at 1765 Alpine Ave. NW that he took in trade as part of the deal.
The Alabama Avenue building, a three-story brick structure on the western edge of downtown, originally was built in 1910 as a carriage factory, said Hyatt, whose lobby still includes the building’s original tin ceiling and moldings. It then became a furniture factory and was added onto several times, he said.
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With just under 50,000-square-feet, the building at 420 Alabama creates yet another downtown housing opportunity for 616 Development, which has converted several downtown properties into housing, including the Kendall Building, the Grand Rapids Brewing Co. and the space above Flanagan’s Irish Pub.
616 Development also is in the process of developing apartments in the former Bethlehem Lutheran Church on Prospect Avenue NE and has announced plans to convert the former Sackner Products Co. factory at 820 Monroe Avenue NW into 86 loft-style apartments with ground-floor retail space.
The company also is developing “The Lofts on Michigan,” a 54-unit apartment and retail project on Michigan Street NE at Eastern Avenue, at the eastern edge of downtown's Medical Mile.
In past months, 616 officials have said they have a waiting list of more than 1,200 persons who want to rent their apartments near downtown.
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