GRAND RAPIDS, Mich. — Downtown Grand Rapids could see some more changes after Grand Action 2.0 pitched the development of two new high-rises near other planned developments in the city.
Grand Action 2.0 has not yet secured a developer; however, it says its other projects would pair perfectly with these two mixed-use buildings.
The group discussed developmental potential at a meeting Wednesday for the new high-rise housing – one building would be 18 stories tall and the other would be 21 stories.
"It's exciting, obviously, because it does change the skyline," Grand Rapids Interim Economic Development Director Jono Klooster told FOX 17.
The mixed-use buildings would neighbor the Acrisure Amphitheater and a planned soccer stadium.
In total, these projects would cost about $748 million.
"It has the potential to drive 735 new housing units to our region and employ more than 238 new, full-time equivalent employees," Grand Action 2.0 Executive Director Kara Wood said.
Grand Action 2.0 applied for a Transformational Brownfield Plan (TBP), which would exempt developers from certain state taxes while providing other financial benefits.
"The additional incentive here largely is derived from state income tax sources. So...what [the] city gets out of this, obviously, is taking us to the next level in terms of our entertainment opportunities in Grand Rapids," Klooster said.
The TBP also includes options for mixed-income housing – either offering affordable units in the high-rises or an annual contribution to the city’s affordable housing fund.
"At this time, I don't know that we can commit to a certain number of units in the development. But, I think we can commit to leveraging these investments for either affordability in the projects or some investment in affordable housing around the area," Klooster added.
Parking was raised already as a potential issue with these projects, but Grand Action 2.0 said it wants to build a ramp adjacent to the amphitheater; however, by building the soccer stadium, the area would lose 700 spots.
Nothing is set in stone, but the TBP could go before city commissioners in the coming months.
Follow FOX 17: Facebook - X (formerly Twitter) - Instagram - YouTube
