Developers plan apartments and retail on Wealthy Street
A pair of developers are planning a project to build about 27 apartments and retail space on Wealthy Street in Grand Rapids.
Orion Real Estate Solutions, or ORES, part of Orion Construction in Grand Rapids, is teaming up with Green Cane Properties to develop the site at 1059 Wealthy St. SE, which is owned by Green Cane Properties, said Ryan Wheeler, development coordinator, ORES.
The project would demolish the one-story building at the site and add three buildings.
Green Cane Properties would build a three-story building with 7,000 square feet of first-floor retail, commercial on the second floor and a third floor with about seven apartment units.
ORES would build a pair of two story multi-family apartment buildings with a total of 20 apartments. The buildings would each be 8,000 square feet. Orion’s contract on the project is about $2.75 million.
If everything is approved, construction would start this summer and should be completed in the spring of 2016.
ORES is doing everything it can to align the project with the wishes of the East Hills Council of Neighbors, said Jason Wheeler, director of business development, ORES.
“We want to fill a need, not create a want,” Wheeler said. “Orion’s focus at this stage in the project is to collect information . . . implement design features and green space in response to their concerns and work with Concept Design to finalize drawings. We are working hard to ensure this proposal meets historical, incentive and neighborhood requirements, so we can bring an inspiring development to this site.”
ORES delivered its initial presentation to the council board this week and is incorporating the initial feedback into its design for the project.
The new designs will be presented at the board’s next meeting on Feb. 2, at 6:45 p.m., at 131 Eastern Ave. SE.
“There were a lot of people in the room with a lot of different feedback,” Wheeler said. “They just want it to fit their neighborhood and make sure the design fits in with the historic design of the neighborhood. We’re looking to develop our plans a little further and come back in a month at their next meeting.”
ORES is pursuing brownfield and state incentives for the project.