Michigan Strategic Fund Supports New Housing Development in Grand Rapids
The Michigan Strategic Fund (MSF) Board has approved a significant project to enhance housing availability in Grand Rapids, Michigan. With a focus on the Westside neighborhood, the initiative aims to bring 109 new housing units to an area rapidly becoming popular among residents.
“We are pleased to support the creation of additional housing units in the growing, vibrant city of Grand Rapids,” stated Quentin Messer, Jr., CEO of the Michigan Economic Development Corporation and chair of the MSF Board. This project aligns with Team Michigan’s mission to foster economic growth through strategic developments that benefit ‘People, Places, and Projects.’
Details of the Development Project
The MSF Board has sanctioned a performance-based loan of up to $4.75 million through the Michigan Community Revitalization Program (MCRP) for Abode Fulton, LLC. This development will strategically occupy a key location in the Westside neighborhood, specifically on West Fulton, offering proximity to major entertainment and dining venues.
The project will consist of 109 market-rate apartments, with configurations including studios and one-bedroom units, in addition to three commercial spaces. This development is expected to contribute significantly to the vibrancy and economic vitality of the West Fulton business district, supporting a walkable, mixed-use neighborhood.
“The City of Grand Rapids celebrates the partnership with the MEDC and Construction Simplified to activate an underutilized site through Community Revitalization Program dollars,” said Sarah Rainero, Economic Development Director of Grand Rapids. The project is anticipated to enhance the city’s economic health and add vibrancy to the district.
Additional Support and Strategic Importance
The development is strategically positioned near Grand Valley State University’s expanding downtown campus and within walking distance of the Acrisure Amphitheatre and Professional Stadium developments. In addition to the MCRP funding, the project will receive approximately $2.46 million from a Neighborhood Enterprise Zone and $1.14 million from local Brownfield TIF. Despite this support, the project faces a financing gap due to the high costs of urban redevelopment.
“As a West Michigan business, Construction Simplified, the developer leading Abode West Fulton, has made a deliberate and continued investment in the Westside corridor we call home,” said Brent Gibson, president of Construction Simplified. The development aims to enhance the area’s energy, housing options, and retail spaces.
Other Strategic Initiatives
Beyond the Grand Rapids project, the MSF Board has also approved Strategic Site Readiness Program (SSRP) funding to support business expansions in Muskegon and Ottawa counties. The companies fairlife and La Colombe are set to benefit from these expansions.
About Michigan Economic Development Corporation (MEDC)
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