Downtown towers project takes step forward
The first details of a $63.5-million downtown development that would feature two towers, retail, apartments and office space have been made public.
The 14-story 150 Ottawa project in Grand Rapids, at 150 Ottawa Ave. NW, by Orion Real Estate Solutions, a division of Grand Rapids-based Orion Construction, was approved for $3.7 million in development support this morning at the Downtown Development Authority meeting. The support would be reimbursements over 15 years.
Construction is expected to start next spring and take 24 months, according to DDA documents.
The site is currently an Ellis Parking surface lot with 120 spaces.
The development was announced in November 2015 and includes the law firm Warner Norcross & Judd as an anchor tenant. Midtown Properties, Lansing-based DTN Management and Grand Rapids-based Concept Design were announced as partners as well.
Warner Norcross’ lease at the Fifth Third Center downtown, at 111 Lyon St. NW, expires in 2019.
The project would feature two separate towers with a shared first floor containing 13,000 square feet of retail.
A ground-floor layout plan features a restaurant, coffee shop, bank and retail, along with separate lobbies for apartment and office buildings.
One of the towers would feature 120,000 square feet of office space, while the other tower would feature 123 one- and two-bedroom apartment units and a rooftop amenity.
A seven-level parking garage with 450 spaces is also included in the development.
The DDA expects the 123 apartment units would add an extra $2.82 million in retail spending to the downtown economy, along with an overall $5.75-million impact.