Medical Mile apartments complete
A 287-unit apartment complex along the Medical Mile is now complete.
The Brix at Midtown finished construction in May. The four-story, $53-million apartment complex designed to attract students and young professionals began preleasing in March 2017, according to previous Business Journal reports.
Matt Marshall, vice president of development for Georgia-based Rise Real Estate, the project’s manager and developer, said the structure is now about 50 percent leased.
“We anticipated at this point it would be 65 percent,” Marshall said. “Due to the fact that there’s been a lot of apartment development, it’s taking a lot of time for units to be absorbed into that market. We’re still big believers in the Grand Rapids market.”
Marshall said Rise originally tapped into Grand Rapids to set up student housing because of Grand Valley State University’s presence, but noticing a strong real estate market, the group switched its efforts to market-rate housing.
Units come in a range of one-, two- and three-bedroom floor plans and all include a private balcony. One-bedroom units start at $1,400, two-bedroom units start at $1,850 and three-bedroom units start at $2,300.
Residents also have access to a two-story fitness room, lounge areas, a heated pool and a 324-space parking garage.
Marshall said the building was designed to have different exteriors to complement other structures in the area, depending on which street it faced. Located at 414 Benson Ave. NE, the building faces other modern-style apartment complexes along Benson Avenue to the west, and single-family homes along Grand Avenue to the east.
“A lot of the residents to our east were concerned about the property not having a residential appeal,” Marshall said. “What we decided was Benson would be more modern, but if you look on Grand Avenue, we’ve got a gable architectural design.”
Rise enlisted Grand Rapids-based Wolverine Building Group as the general contractor. Lord Aeck Sargent's Ann Arbor team provided architecture and design.