$9M urban apartment complex opens leasing
A $9-million, mixed-use apartment complex in Grand Rapids has begun leasing.
Green Cane Properties' Freyling Mendels, at 1059 Wealthy St. SE, is renting units through its property manager, Grand Rapids-based Rent Blu.
“It’s exciting to see this development come to life,” Rent Blu Owner Ryan Ogle said.
The complex's six buildings are expected to be open in early July.
The 60,000-square-foot development includes 10,000 square feet of ground-floor retail and 10,000 square feet of office space.
Apartments at the complex range from studio to two-bedroom units, with square feet ranging from 519 to 1,053. Prices range from $1,250 to $2,450.
Green Cane Properties purchased the site, a former McDonald’s turned into a shopping center, in 2012.
Joe Marogil, a partner at Grand Rapids-based Green Cane Properties, said the site “was a mess” when the firm purchased it.
“It was dysfunctional to the area, and it really created a dead zone,” Marogil said. “We knew a great development would have a huge impact on the community in a way that addressed the area’s needs.”