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Apartment construction booms in first half of 2016


The Haven," a 192-unit apartment complex in Wyoming that is being built on a 14-acre field ... The $53 million project by RISE Real Estate Development of Valdosta, Ga. will include a 334-space parking ramp for residents. • An 11-story complex with ...


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Register now for free, or sign in with any of these services: You are signed in as Edit Public Profile Sign Out Favorite Schoolsexpand Favorite Teamsclose Subscribe The Ann Arbor News The Bay City Times The Flint Journal The Grand Rapids Press Jackson Citizen Patriot Kalamazoo Gazette Muskegon Chronicle The Saginaw News Michigan Change Region function getToprailVersion() { return 1; } function getComscorekwValue() { return '; } function getToprailMenuContext() { return '; } comments Apartment construction booms in first half of 2016 VenueTower.JPG Construction work began during the first half of 2016 on the $32.7 million Venue Tower, an 11 story building that will include 90 apartment units at 150 Ottawa Avenue NW (Jim Harger | Mlive Media Group) Print Email Jim Harger | jharger@mlive.com By Jim Harger | jharger@mlive.com MLive.com Follow on Twitter on July 07, 2016 at 4:06 PM, updated July 07, 2016 at 4:47 PM comments Advance.Gigya.settings.page = { 'title':'Apartment construction booms in first half of 2016\t', 'link':'http://mlive.com/realestate-news/2016/07/apartment_construction_booms_i.html', 'desc': 'New projects underway include a 400-unit development inspired by a Bavarian castle, a 203-unit development aimed at millennials and a 192-unit development in suburban Wyoming', 'thumbnail': 'http://media.mlive.com/realestate-news/photo/2016/07/07/20705325-standard.jpg' }; GRAND RAPIDS, MI – Kent County's apartment boom took off in the first half of 2016 as developers pulled building permits for 1,311 living units, almost twice as many as in the first half of 2015. New apartment projects that drew building permits include: • "The Grand Castle," a 400-unit development on the site of a former Grandville trailer park that will be modeled after Neunschwanstein, a legendary Bavarian castle • "Knapp Corner Flats," a 203-unit complex aimed at millennials along Knapp Street NE near East Beltline Avenue NE. • "The Haven," a 192-unit apartment complex in Wyoming that is being built on a 14-acre field at the northwest corner of Wilson Avenue and 52nd Street SW. • A 105-unit expansion of Aspen Ridge, a 38-year-old apartment complex along Knapp Street NE east of Ball Avenue • "The Venue," a 12-story, 90-unit development in the heart of downtown Grand Rapids that is being built atop a "multi-faceted flex space" that includes a 2,256-seat entertainment venue and beer garden. • Grand View Place, a $12 million development at 936 Front Avenue NW that will offer 64 affordable rental apartments and townhousesThe project replaces a former Ryder Transportation Services garage located north of the Sixth Street Bridge. • 601 Lake Michigan Drive, a $19 million project that will create 63 apartments in two buildings on a vacant lot along Lake Michigan Drive NW between Seward and Lexington avenuesThe buildings, which will include ground-floor retail, office and restaurant space, will include 70 underground parking spaces and a 24-space surface parking lot. The latest permits do not include several large projects that are still on the drawing boards and would add another 1,200 apartments to the marketThey include: • A 286-unit project north of Michigan Street between Grand and Benson avenuesThe $53 million project by RISE Real Estate Development of Valdosta, Gawill include a 334-space parking ramp for residents. • An 11-story complex with 260 apartments and 60,000 square feet of commercial space at 234 Market AveSWMaplegrove Development LLC, which bought the property for $5 million last summer, said it plans to begin construction in August with expected completion and occupancy in January 2018 • 601 Bond Avenue NW, a $53 million project that will create 202 market-rate apartments on top of a five-story parking ramp that will have space for 214 carsThe 16-story apartment tower is planned for a vacant lot that was once home to a foundry north of downtown. • Diamond Place, a $42 million 160-unit multi-income project near Michigan Street and Diamond Avenue NE • Hinman Cois proposing to build a 40-story skyscraper on a triangle-shaped downtown lot that would include 255 market-rate apartments on the upper floors along with 120-140 hotel rooms on the first 10 floors. RELATED: Grand Rapids is one of the nation's hottest rental markets The boom in single family housing also continued during the first six months as home builders in Kent County pulled permits for 551 homes, a 12 percent increase over the first half of 2015 According to BuilderTrack reports, the latest boom does not match the boom years of 2000-2005, when local builders registered more than 1,000 building starts during the first six months of those yearsThose numbers dwindled to 163 in the first half of 2009 as the housing market collapsed Condominiums also participated in the resurgenceBuilders pulled permits for 107 units in Kent County during the first six months of 2016, a 41 percent increase over the first half of 2015. In total, 1,973 housing units were started in the first half of 2016, a 60 percent increase over the first half of 2015, according to Builder Track Reports. "The market is very strongIt's a reflection of the strength of the local economy here," said Andy Lofgren, executive officer of the Home Builders Association of Greater Grand Rapids Lofgren said the region's strong employment growth and popularity among millennials is fueling the increased demandLow interest rates and a shortage of existing homes on the market also are driving demand, he said. The growth in condominium sales is a reflection of aging baby-boomers are seeking to down-size and simplify their lives, Lofgren said. Jim Harger covers business for Mlive Media GroupEmail him at jharger@mlive.com or follow him on Twitter or Facebook or Google+. window._taboola = window._taboola || []; _taboola.push({ mode: 'alternating-thumbnails-a', container: 'taboola-below-article-thumbnails', placement: 'Below Article Thumbnails', target_type: 'mix' }); var searchFormPlaceholderText = 'Location: e.gJackson or 48706'; var mapquestKey = 'Gmjtd%7Cluurn1uyn5%2C2s%3Do5-lrrlg'; var ULLat = '47.5'; var ULLng = '-90.2'; var LRLat = '41.66'; var LRLng = '-82.4'; (function($){ $(document).ready(function() { searchwidget = { 'config': { 'sf_wrapper': ".searchwidget", 'sf_container': ".search-container", 'sf_tabs': ".search-tabs", 'location_ph': searchFormPlaceholderText, 'mqKey': mapquestKey, 'bbULLat' : ULLat, 'bbULLng' : ULLng, 'bbLRLat' : LRLat, 'bbLRLng' : LRLng }, 'init': function(config) { if (config && typeof(config) == 'object') { $.extend(searchwidget.config, config); } $(searchwidget.config.sf_tabs + " label").append(""); //this is for the highlight indicator searchwidget.init_all(); }, 'init_all': function(){ searchwidget.location_ph(true); searchwidget.dd_init(); searchwidget.tabs_init(); searchwidget.sf_event_binds(); }, 'dd_init': function(){ $(searchwidget.config.sf_container + " select").dropkick({theme:'sf',startSpeed:0}); }, 'tabs_init': function(){ // set FOR SALE tab active as default $(searchwidget.config.sf_tabs + " li.for_sale label").addClass('r_on'); $('#finder_input').val('buy'); // toggle highlights $(searchwidget.config.sf_tabs + " li").click(function() { $(searchwidget.config.sf_tabs + " li label").removeClass('r_on'); $(this).find('label').addClass('r_on'); if ($(this).hasClass('for_rent')) { $('.searchwidget #row2-sale').hide(); $('.searchwidget #row2-rent').show(); $('#finder').val('rent'); $('#list_type').val('community'); } else { $('.searchwidget #row2-sale').show(); $('.searchwidget #row2-rent').hide(); $('#finder').val('buy'); $('#list_type').val('resale'); } }); }, 'location_ph': function(e){ var loc_ph = searchwidget.config.location_ph; var txt_loc = $(searchwidget.config.sf_container + " input.location"); var ac_active = typeof(txt_loc.autocomplete) === "function"; var ph = "placeholder" in document.createElement("input"); searchwidget.ph_text_unbind(txt_loc); txt_loc.trigger('blur'); }, 'ph_text_bind': function(tb,ph){ tb.bind("focus",{'tb':tb,'ph':ph},this.ph_text_focus); tb.bind("blur",{'tb':tb,'ph':ph},this.ph_text_blur); }, 'ph_text_unbind': function(tb){ tb.unbind("focus",this.ph_text_focus); tb.unbind("blur",this.ph_text_blur); }, 'ph_text_focus': function(e){ var tb = e.data.tb; var ph = e.data.ph; if(tb.val() == ph){ tb.val(').removeClass("ph_active"); } }, 'ph_text_blur': function(e){ var tb = e.data.tb; var ph = e.data.ph; if(tb.val() == ph || $.trim(tb.val()) == ""){ tb.val(ph).addClass("ph_active"); }else{ tb.removeClass("ph_active"); } }, 'sf_event_binds': function(){ $(searchwidget.config.sf_container + " input.location").bind("input", this.location_input); }, 'validateForm': function() { if (document.documentElement.clientWidth

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