Developer breaks ground on $9M residential project
A $9.6-million development with residential units, retail and restaurant space is well underway in town.
Grand Rapids-based Orion Construction said it broke ground this week on Fulton Square in Grand Rapids, a mixed-use development with 47 residential units on the corner of Carlton Avenue SE and Fulton Street E.
Construction is expected to be complete early next year.
“We are excited to be underway with Fulton Square and to have the support we’ve received for this project from the city of Grand Rapids and the Eastown Community Association,” Orion’s Director of Business Development John Wheeler said. “This project transforms what was a vacant lot into an economic engine for the neighborhood.
“Our aim was to create a mixed-use concept that created taxable value, but also preserved the culture, character and intentions of the neighborhood.”
Together, the two-building development will be 55,000 square feet with 25 one bedroom, 12 two bedroom, three three bedroom and seven micro-loft units.
Broken up into building A and building B, the A building will be three stories with ground floor townhome-style apartments and traditional apartments on the second and third floors.
Building B will have two ground-floor retail units and a restaurant space, with apartments on the second, third and fourth floors.
There are 92 parking spots in the development, with eight designated for Grand Rapids Opera, which is next to the development.
Orion Construction purchased the property last May and received approval last summer.
SIBSCO is a majority investor in the project, and Sparta-based ChoiceOne Bank is providing additional financing, along with NEZ and brownfield tax incentives.
“SIBSCO is passionate to be partnering with Orion on this exciting project,” SIBSCO partner Charlie Secchia said. “This development will be a great addition to the neighborhood and signifies the collaborative spirit we strive to partake in.”