Downtown apartment building opens leasing
A long-neglected building downtown has been redeveloped and now consists of apartments and a retail component.
Regency Flats occupies the building at 123 Division Ave. S in Grand Rapids, offering a total of seven one-bedroom, two-bedroom and penthouse apartments, according to NAI Wisinski of West Michigan this week.
Construction on all the apartments is almost complete, and they will be available for occupancy tomorrow.
The building features exposed brick, beams and ductwork.
It also features a number of amenities: kitchens with quartz countertops and stainless-steel appliances; tile showers with glass doors; large balconies; cantilevered bay windows; LED lighting; on-site parking; secure key card access; and more.
Apartments range from 600 to 1,060 square feet and between $800 and $2,200 per month.
Two units, a one-bedroom and a penthouse, are leased.
More information on the units is online.
Avenue Barber Shop, owned by barber Chris Lapham, also occupies an 850-square-foot space on the ground floor.
Todd Leinberger of NAI assisted the shop with its three-year lease.
Sean Terpstra of Terpstra Construction Services purchased the building in late 2015 for $319,000.
Jason Makowski of NAI Wisinski of West Michigan assisted Terpstra on the deal.
“At that point, it was more or less a vacant shell and had existed as a shell for 25-plus years previous to this,” Terpstra said.
Terpstra Construction Services conducted the build out of the new apartment units and did the interior design.
Holland-based Sluiter Vanden Bosch Associates provided architectural services on the project.
The redevelopment project cost more than $1 million and was funded through private equity and assistance from the Grand Rapids Downtown Development Authority and Michigan Economic Development Corporation.