Developer plans condos near Medical Mile
New condos could be on the way for a neighborhood just north of Medical Mile.
The Grand Rapids Planning Commission approved last week re-zoning for the Artisan Group’s proposal for up to 39 condos in the Belknap neighborhood.
The addresses for the proposed development, or Coit Square, are 608 Coit Ave. NE, 644 Coit Ave. NE and 210 Fairbanks St. NE.
The proposed start date for construction is late spring or early summer of this year.
The project would require the demolition of 11 houses to make room for the 32 to 39 proposed condos.
The properties are currently owned or optioned by the developer and would be fully purchased if the project is approved by the city.
A majority of the condos would be two-bedroom residences, and there would be 37 on-site parking spaces.
The development would be made of 11 “unique buildings architecturally,” less than two and a half stories tall.
Prices would range from $149,900 to 249,900 for two-bedroom condos and $289,900 for the few three-bedroom condos.
Currently, the tax capture from the 11 parcels is about $21,000, according to Artisan’s proposal, which would increase to $147,000 annually.
Additionally, Artisan said it is looking to dedicate two units to low-income home ownership.
The architect for the project is Create 3 in Grand Rapids.
Orion Construction in Grand Rapids would also be a partner in the project. Orion is already working on a development in the neighborhood with The Gateway at Belknap.