A four-story, mixed-use affordable housing project is in the works for downtown Grand Rapids. Dirt is being moved near Grand Rapids Medical Mile. Along Michigan Street a number of homes have been demolished making room for Midtown CityZen; a four-story, 44-residential unit project offering affordable housing.
The 40,000 square foot development will also include space for a restaurant on its ground floor.
Third Coast Development is spearheading Midtown CityZen. Partner David Levitt explains, “We are very familiar with the diverse demographic that works and plays along the Michigan Street Corridor, so we are trying to be intentional in providing residential options, so those individuals can also afford to live in this corridor,”
In a news release, “All 44 residential units will be priced as affordable to individuals and families making 80 percent Area Median Income."
The Michigan Economic Development Corporation is providing a $10 million loan. The MEDC is supporting residential projects across the state targeting areas where “individuals and families make 61 to 120 percent of AMI.”
Patrick Center, WGVU News.