GRAND RAPIDS, Mich. – The City of Grand Rapids has closed on the purchase of several acres of riverfront property.
In a press release, the city says they are purchasing 511, 519 and 525 Monroe Avenue NW from Kent County and 533 and 601 Monroe Avenue NW from Michigan State University. The city is paying Kent County $3.3 million for the properties and Michigan State $3.8 million.
The purchase means the city will get a $7.2 million grant from the Michigan Natural Resources Trust Fund to cover most of the costs the city is incurring in acquiring riverfront properties for the Grand River restoration project.
The city says that the area will first be a staging area for the river project, but will later become a park with river-related activities.
The City Commission, the Kent County Board of Commissioners and the MSU Board of Trustees approved the terms and conditions of the sale earlier this year.