The Grand Rapids Downtown Development Authority Board of Directors today approved three separate measures that will leverage a total of approximately $43 million of private investment to support new construction, rehabilitate historic buildings, and deliver new residences at a variety of price points in downtown Grand Rapids. In addition to these improvements of the built environment, the DDA Board also moved forward a community planning and design process intended to enhance two important downtown green spaces.
Taken together, the DDA-supported projects will add 143 new housing units, 9,000 square feet of new and rehabbed retail space, plus 80,000 square feet of rehabbed office space – enough to accommodate 325 additional employees in downtown. The Board action also advances the work of rehabilitating 1.8 acres of public park space.
“The level of energy in our city-building movement clearly continues to rise,” said DDA Executive Director Kristopher Larson. “The DDA’s job is to help encourage and facilitate that energy for the best possible outcomes. The investments the Board approved today will strengthen downtown’s ability to attract new residents, grow the economy, and provide a more complete urban experience.”
240 Ionia SW / 26 Cherry SW / 205 S. Division