Developer builds downtown apartment building
A developer is building a 235-unit apartment building downtown that will feature commercial space.
East Lansing-based Maplegrove Property Management confirmed construction on its project in Grand Rapids, at 234 Market Ave. SW, is expected to start next month — as demolition work on a former adult club at the 2.03-acre site is nearly finished.
The project includes a five-story building with apartments, 30,000 square feet of commercial space and a parking structure.
The construction timeline is expected to be about 18 months, with a target completion date of June 2018, according to Maplegrove COO David Edmin.
Grand Rapids-based Rockford Construction is performing demolition work and will provide development and construction services for the project.
Colliers West Michigan will represent the firm in the leasing process.
"Cool little section" of town
The site is directly behind Founders Brewing Co. and was purchased for $5 million last June from the former owner, Mark London, who was asking $6 million, according to previous Business Journal reports.
Initially, the project was to be 11 stories and include 260 units and 60,000 square feet of commercial space, according to a Business Journal report last December.
Edmin said the development is a little bit ahead of some expected development in the area, including the Loeks Theatres and 616 Development movie theater project near Van Andel Arena and expected development at the city’s 18-acre site on the Grand River, at 201 Market Ave. SW.
“Grandville Avenue has changed a ton in the last five years, and we believe Market is next, especially with that riverfront property,” Edmin said. “We believe that this will be a cool little section adjacent to that.”