Real Estate

Developer plans $12M residential complex on riverfront

January 19, 2016
| By Pat Evans |
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Developer plans $12M residential complex on riverfront
Sycamore House in Durand, southwest of Flint, is a senior affordable housing community and a historic rehab project by The Woda Group. Photo via fb.com

A new residential development on the Grand Rapids riverfront is in the works.

The Woda Group has purchased a 3.1-acre site at 936 Front Ave. NW for an undisclosed amount to build a 68-unit affordable housing complex.

Most recently, the site just north of Sixth Street Bridge was used by the seller, Ryder Transportation Services.

Construction is expected to begin in the summer.

The $12-million project “aims to provide affordable rental apartments and townhomes along the Grand River.”

The apartments will be affordable housing through the Michigan State Housing Development Authority, including 21 units set aside for disabled and chronically homeless veterans. The rest of the units will be targeted to working families.

The residential development is expected to use two acres. 

The remaining acre is slated for future mixed-use development, which is expected to include retail and some form of market-rate housing. 

A 25-foot easement will also be included on the property for a potential city park on the west bank of the Grand River, according to The Woda Group SVP Craig Patterson.

Patterson said The Woda Group has been planning the project for "several years" and held an option on the site until last fall.

Patterson added that the company has met with the city twice since Christmas and has feedback on the design and other details. 

Stan Wisinski, principal at NAI Wisinski of West Michigan, represented The Woda Group in the purchase.

“This section of downtown Grand Rapids continues to get a lot of attention from developers,” Wisinski said. “We anticipate the residential and mixed-use development to spur additional interest in that block.”

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