Firm buys land for affordable housing on West Side
An affordable housing developer has purchased a plot of land on Grand Rapids’ West Side.
Woda Cooper Companies, based in Columbus, Ohio, recently bought a 1.54-acre site at 745 Stocking Ave. NW from John VanTongeren, president of Ferris Coffee & Nut. According to NAI Wisinski of West Michigan, the buyer intends to demolish the existing building on the property and build a four-story, 50-unit apartment complex.
The building plan includes 20 one-bedroom units, 24 two-bedroom units, six three-bedroom units and a 51-space surface parking lot for tenants. The complex also will include units priced for households that make 30 to 60 percent of area median income.
Ferris originally bought the land to expand production but is now consolidating to a larger facility at 601 Seventh St. NW.
Stan Wisinski, owner and chairman of NAIWWM, represented both the buyer and the seller in the deal.
Wisinski also represented Woda Cooper in 2016 in the purchase of a 3.1-acre site at 936 Front Ave. NW, Grand Rapids. The company then built Grand View Place, a 68-unit affordable apartment building with one- and two-bedroom apartments.
Woda Cooper Companies specializes in the design, construction and management of affordable multifamily, senior communities and single-family homes. The company has developed and currently manages more than 12,000 units in 15 states.