Apartments for the Middle Class Planned in Downtown Grand Rapids [Video]
There has been, and continues to be, a lot of construction for new apartments in Downtown Grand Rapids but for the most part they're either luxury apartments with a higher rent or apartments only available to low-income renters.
However, there soon could be apartments available for the middle-class. WOOD-TV says if all goes to plan, the apartments could be ready for tenants by this time next year.
The apartments, being developed by Third Coast Development, will be located on 637 Michigan Street, near the Medical Mile. Currently, there are a few old houses in that space.
This (potential) new apartment building will consist of 44 units with studio, one- and two-bedroom spaces available. Rent will be anywhere from $850-$1,250/month and will be available to those who make between $30K and $50K per year.
According to Max Benedict, one of the main developers at Third Coast, utilizing vertical space and incentives from the state and city is what would make this project possible. He also says that the two-bedroom unit will cost less than what a one-bedroom typically goes for in Downtown Grand Rapids.
The company is hoping to break ground by March.