GRAND HAVEN, Mich. — Developers are again moving to rehabilitate the long-vacant Grand Haven Jewelry building on Washington Avenue and residents are feeling optimistic.
The developer plans to significantly upgrade the facade, add seven residential units to the upper floor and retail space on the bottom floor. Three of the units will be rented at 100% or below the Area Median Income, meaning no one who makes more than $60,665 a year will be able to rent those units.
WATCH: Another attempt at rehabbing Grand Haven Jewelry building underway
Coast Life Companies, the developer leading the project, said the plan would transform the eyesore into mixed-use space that could house restaurants or retail on the street level.
"One of the things we looked at before was having restaurants in there or whether it's going to be retail," said Kyle Doyon, chief executive officer of Coast Life Companies. "Something along that line."
Attempts to renovate the building stalled in recent years as the pandemic disrupted supply chains, drove up costs and threw timelines into disarray, city officials said. Assistant City Manager Dana Kollewehr said those earlier efforts faltered during COVID-19, but conditions now appear more favorable.
"I know the last time they were thinking about making a project happen that was during COVID so things got kind of topsy-turvy with pricing and the timelines they just couldn't make it come together," Kollewehr said. "So we feel very hopeful that this time around it's going to happen."
To move forward, the project must secure incentives from the state.
One is the Obsolete Property Rehabilitation Act (OPRA), which would exempt the developer from paying property taxes on the building for 12 years. The developers are requesting $232,312 in tax relief over that period.
The developer is also applying for a Brownfield Housing tax-increment financing (TIF) incentive. It would reimburse the developer for lost rent on units rented below market rate. The developers are requesting $202,900 in reimbursements over 15 years.
Kollewehr said the timing for the project is ideal, with the Marriott hotel planned to open across the street in the coming years. Officials hope the renovated building will contribute to a vibrant downtown that draws visitors.
Resident Paul Falzone said he is glad to see action after years of vacancy.
"I'm very, very happy that's something is going to be done here so that it doesn't continue to be an eyesore," Falzone said. "It makes just sense that building should be producing some income in a prosperous resort town so I am very, very pleased."
City officials say the state could decide on the incentives this fall. If approved, developers say they could begin construction as soon as this winter.
