Developer builds out $6.5M townhome project
A developer is going to have a busy winter building out a $6.5-million residential project in the downtown of a Grand Rapids suburb.
Mosaic Properties in Grand Rapids is working through the winter to finish Croswell Mews, a project that will bring 10 townhomes, a three story live-work building and a single-family home to East Grand Rapids’ Gaslight Village, at 674 Croswell Ave. SE.
The project should be completed next March or April.
Mosaic Properties is also the project’s contractor, while Berrien Springs-based Hibler Design Studio is the project’s architect.
The 10 townhomes will include a total of eight three-bedroom units and two two-bedroom units.
The townhomes range from 1,738-2,050 square feet and feature attached two-stall garages. Three have been sold.
The design of the townhomes blends a 17th and 18th century London row-house look with an ultra-contemporary West Coast townhouse look. The townhomes are also designed to be able to add elevators.
The project is part of a master plan for urban mass density in East Grand Rapids, said Brad Rottschafer, president, Mosaic Properties.
“In our design, we really intended it that it fit the area,” Rottschafer said. “We’re using similar materials, and we felt like we didn’t want it to just stick out. We wanted it to blend.”
Rottschafer said the $6.5-million townhome part of the project will be marketed to young professionals, smaller families and empty nesters.
“A steady increase of the baby boomer population is leaving the suburbs for urban centers. For many, it’s about lifestyle,” said Chad Koster, principal, Paramount Realty Partners in Grand Rapids, the project’s broker. “The beauty of this place is it's ‘lock and leave.’ Then you ‘unlock and enjoy.’”
The home and live-work building
The Croswell Mews development also features a two story, 2,238 square foot, three-bedroom home, which includes a two-stall garage and private courtyard. The house has been sold.
Mosaic Properties is also working to complete the three story live-work building at the site.
The building will feature 1,200 square feet of retail space on the first floor, 2,000 square feet of office space on the second floor and a 2,000-square-foot penthouse on the third floor. The tenant for the live-work building has been selected and will be named later.