Caroline MacGregor August 14, 2013 | WGVU
More than 94
million dollars of private investment is earmarked to construct new high rise
buildings, rehabilitate historic buildings, and expand residential, retail, and
commercial offices within the city center.
will add more than 100,000 square feet of retail and commercial office space
and at least 284 new housing units to downtown Grand Rapids.
About 230 of
the housing units will be market-rate. The housing units are expected to boost
annual consumer spending by more than 5 million.
One development incentive
includes the Morton House on Monroe Center which includes 100 market-rate
residential apartments, 25,000 square feet of retail and commercial space at an
estimated cost of 21 million. Sidewalk and streetscape improvements are also
planned. An estimated 1.5 million in future tax revenues will support barrier-free
access and public right-of-way improvements.
different incentives were approved to support a 2.6 million renovation of the
Trust Building. The Board also approved grants to support improvements to two
downtown buildings with funds being paid over a 10-year period from future tax
revenues generated by the nearly 40 million project, which includes 108 new
affordable- and market-rate housing units and 9,000 square feet of commercial
approved 3 million to reimburse development costs at the proposed Arena Place
project on Weston Street.
will be paid over 15 years from future tax revenues generated by the nearly 30
million dollar development, which includes 76 market-rate apartments, 40,000 square
feet of commercial office space, 10-thousand square feet of ground-floor retail
space, and up to 90 parking spaces.
Executive Director, Kristopher Larson, was authorized to negotiate a contract
with Block by Block, a Louisville based organization to manage Grand Rapids new
Safety Ambassador Program involving 5-10 people trained to assist police and
provide help for visitors
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