GRAND RAPIDS, Mich. — The City of Grand Rapids has approved a new development on a city-owned parking lot near Van Andel Arena.
Wheeler Development Group is offering the city $2 million to build a new 24-story high-rise directly across the street from the Van Andel Arena.
Construction on the mixed-use building could cost around $55 million and could begin as early as the Fall of 2020.
The building would be home to both apartments and condos, some of which would be affordable housing units. The plans also include a retail store, office space, and five floors of parking.
"This is one of the economic opportunities that we have to use publicly-owned land and partner with private developers to create some of the needs that we have in our city, such as the need for housing and parking," said City Manager Mark Washington. "We were able to leverage a public property to both increase supply of housing and parking and doing it in an affordable way."
The developer received approval Tuesday at the Grand Rapids City Commission meeting.