Developer plans $7.4M project near college
A developer is planning to build 44 apartments and retail space next to a local college.
Orion Real Estate Solutions, or ORES, part of Orion Construction in Grand Rapids, has unveiled plans for the four-story project in Grand Rapids, just west of Aquinas College, at 1 Carlton Ave. SE.
Concept Design in Grand Rapids is serving as the project’s designer.
The $7.4-million project, One Carlton, would create a 55,000-square-foot building on the vacant plot of land.
The building would feature 3,500 square feet of restaurant space and about 3,500 square feet of retail space on the ground floor, with about 48,000 square feet for 44 one- or two-bedroom apartments on floors two through four, said Ryan Wheeler, development coordinator, ORES.
The project would also include about 78 on-site parking spaces.
“Our intention with One Carlton is to bring new life and key neighborhood components to this attractive real estate,” Wheeler said. “We love the proximity to Aquinas College, and this development would complement the housing requirements of the students and the neighborhood."
Wheeler added that One Carlton is "in the investigative stages."
"We look forward to closing on the land, coordinating our efforts with the neighborhood association and transforming a vacant lot into a thriving development,” Wheeler said.
ORES has entered into a purchase agreement with the property’s owner, F & C Building Co., and is seeking to close on the land in February, before finalizing initial drawings and proposing the development to the neighborhood association.
Wheeler said Orion would start construction in the late summer, if all approvals go through, with the work finishing up in the summer of 2016.
“This piece of land has been approached several times since 2000, but there hasn’t been a development that the neighborhood (thought) fit the feel,” Wheeler said. “So it’s an indicator that the community would like to see something.”
ORES is pursuing public incentives for the project.