Hotel Gets Parking

GRAND RAPIDS — A $21 million hotel project planned for the Monroe North Business District secured a 20-year parking lease with the city last week.

Commissioners agreed to give Moch International a lease for 100 spaces in the city’s North Monroe parking lot on Monroe Avenue and Trowbridge Street. The firm intends to build a nine-story, 137-room extended-stay hotel on the northeast corner of Trowbridge and Bond Avenue, about a block east of the parking lot.

The lease will cost the development company $83.50 a month for each space once the agreement becomes effective. The hotel, a Staybridge Suites brand, has to open by May 1, 2010 to meet the conditions of the lease. Guests will have around-the-clock access to the lot.

Joseph W. Moch and Joseph A. Moch comprise Moch International, which is doing business as SSGRCC LLC for the hotel project.