Rockford Construction has been awarded a $6.3 million loan and $13 million in Tax Increment Financing through the Michigan Economic Development Corporation’s Michigan Strategic Fund for a planned mixed-use development on Grand Rapids’ West Side at the corner of Bridge and Seward.
The project will bring more than $55 million of investment and includes a neighborhood grocery store by Meijer, 116 market-rate apartments that will be managed by Rockford, a 275-space parking deck and an office and retail building with the West Michigan Center for Arts and Technology, confirmed to take 20,000 square feet of the available 56,000.
The block, bordered by Bridge, Stocking, Seward and First streets, will also include an affordable housing development by Inner City Christian Federation (ICCF). The 64-unit building received Low Income Housing Tax Credit funding in December for the project. The first floor of the ICCF building will feature retail space, fronting Stocking.
“A project of this scale requires a high level of collaboration at the local and state level,” Mike VanGessel, CEO of Rockford Construction said. “We are thankful to the City of Grand Rapids and the State of Michigan for their support in making this vision a reality for our neighborhood. This is a key approval for this transformational project, and it couldn’t move forward without it.”
Deconstruction of the existing structures on the property will begin in May, with construction beginning in June 2017. The first phase of the project will include the grocery, market-rate apartments, office and retail spaces and parking ramp, and will open in the fall of 2018.
“We are delighted to play a part in this exciting development and are pleased that things continue to move forward,” Meijer President and CEO Rick Keyes said. “We remain confident that we will be able to complement this project with a convenient, neighborhood grocery store for those who live and work nearby.”
An estimated 150 new jobs will be created by the development.
“The Michigan Economic Development Corporation is pleased to be a partner in this project for the citizens who work and live near downtown Grand Rapids,” Steve Arwood, CEO of the MEDC said. “We remain committed to growing Michigan’s economy and helping provide the necessary solutions to do so.”
The Michigan Strategic Fund’s contribution to the project comes from the state funding for the Michigan Community Revitalization Program. The focus of the MCRP is to encourage and promote capital investment and redevelopment on brownfield and historic preservation sites located in traditional downtowns and high-impact corridors.
Rockford has been investing in the West Side for more than four years, with a focus on developing quality housing options and bringing new services and gathering spaces to the neighborhood.
“Our work on the West Side exemplifies our commitment to authentic placemaking,” VanGessel said. “Thoughtful planning, strong design and quality construction that draws inspiration from the existing community creates a place people want to experience. Being able to do this work across multiple blocks allows for walkability and overall neighborhood wellness.”
About Rockford Construction:
Established in 1987, Rockford Construction (Rockford) is a nationally-recognized construction, development, and property management provider. Rockford is licensed in 44 states and ranked by Engineering News-Record as one of the top 150 contractors in the nation. With regional offices in the Midwest and Southeast, Rockford has built projects totaling more than $4.3 billion of various size and scope in more than 800 cities across the country.