Developer plans lofts downtown
A new mixed-use development is planning to make its mark on Grand Rapids.
Seventh St. Lofts
Grand Rapids-based Orion Real Estate Solutions said Monday that it plans to convert the former Aslan Building into the Seventh St. Lofts, at 600 7th St. NW.
ORES plans to turn the building into a mixed-used development, putting a restaurant/pub space, fitness center and residential units on the second and third floors.
Construction and renovation will begin as soon as zoning permits are approved.
The project’s estimated cost was not disclosed as of Tuesday afternoon.
“This is an outstanding opportunity to provide market-rate housing to the west side and fill one of the city’s biggest treasures with tenants, employees and patrons,” ORES Partner John Wheeler said. “It will benefit the community by using existing vacant space and creating a profitable mixed-use concept that complements the neighborhood.”
ORES Partner Gary Postma added that the “current infrastructure, opportunity and vision for the area are very appealing to us.”
The partially renovated three-story building was formerly used as an Israel’s showroom.
ORES said it purchased the building from Macatawa Bank, thanks to a partnership with MGC Holdings and Birchwood Heights Equity Corp.
600 Seventh LLC bought the property from Coastal-Aslan Building LLC for $2.5 million in December of 2013, according to city records.