Developer plans 11-story apartment building downtown
A developer is planning to build an 11-story building downtown with apartments and commercial space.
Maplegrove Development said today that it plans to turn a former adult club in Grand Rapids at 234 Market Ave. SW into a mixed-use building, featuring 260 units and 60,000 square feet of commercial space.
The property is near Founders Brewing Co. and a block east of the Grand River.
Construction is expected to start in August and be completed in January 2018.
“We anticipate the 234 Market Avenue project will be the anchor building in this emerging renaissance area of downtown Grand Rapids,” said David Emdin, COO and Grand Rapids office manager, Maplegrove Development. “Our team is looking forward to working with all stakeholders to bring this into being and to creating a building that will be a significant asset and enhancement to the community.”
Nine floors of the building will be Class A residential space, including studio, standard one bedroom, premium one bedroom and two-bedroom units.
Views of the river and downtown Grand Rapids will be included in most rooms. A multi-story parking structure is also in the plans, adjacent to the building.
The developer bought the 2.03-acre property in June for $5 million, according to city documents. In February, the Business Journal reported the adult club owner, Mark London, was asking $6 million for the site. He purchased the property in 2004 for $800,000.
Rockford Construction in Grand Rapids will provide development and construction services on the project.
Maplegrove Development and its partners own 38 Commerce, Park Place, Iowa Flats, Fountain Hill Flats, Hopson Flats and other Heritage Hill apartment properties near the downtown area.