Condo Project Exceeds Expectations

December 27, 2002
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SPRING LAKE — Nearly half of the units planned for a $22 million condominium project overlooking the Grand River have already been spoken for, exceeding the expectations of developers.

Grandview 900 LLC has reservations signed for 20 units in the Marina Bay Waterfront Condominiums, a 47- to 49-unit, six-story condo/marina development fronting the Grand River on the western end of the Village of Spring Lake.

Helping drive the interest in the project is the location, a five-acre site just upriver from where the Grand River meets Spring Lake, along with a generally strong market for condominiums in the Grand Haven-Spring Lake area, said Steve Matthies, owner of Re/Max of Grand Haven and a partner in Grandview 900.

“We feel we’re a little ahead of the game,” Matthies said of the reservations secured to date. “Our condominium market is excellent over here and it’s been strong for the last four years — and I don’t anticipate that changing.”

Developers are targeting the high-end market with Marina Bay. Condos of 1,020 square feet to 2,400 square feet range in price from $265,000 to start, to $575,000 or more for top-story units that offer the optimum view of the Grand River, Spring Lake and Lake Michigan to the west. The project includes a marina, with the buyer of each unit receiving a boat slip.

The Grandview 900 partnership has state and federal permits for 34 boat slips on the Grand River and is seeking approval for an additional 16 slips, Matthies said.

He expects construction on the project to begin in the spring, or as soon as weather permits. Developers expect to have 25 to 30 of the condominium units sold by the time they’re ready for occupancy, about 14 months after construction commences.

Future elements of the project include retail space along M-104 with upper-floor apartments.

Pioneer Construction of Grand Rapids is the contractor on the project. Design Plus is the architect.

Marina Bay is one element in future changes to the landscape on the western tip of the Village of Spring Lake.

Additional parcels along the Grand River are for sale and the village itself, seeking to boost the tax base and provide room for new residential and commercial development, is working to facilitate the redevelopment of five acres adjacent to downtown, and across M-104 from the Marina Bay site, now filled with light industrial and commercial uses.

The idea is to redevelop the acreage, located to the north of M-104 and along the shores of Spring Lake, into a mixture of residential — more than likely condominiums and apartments — and commercial uses with restaurants, stores and professional offices adjoining the downtown area.

Envisioned for the area is a redevelopment project estimated to cost upward of $23 million.            

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