The Grand Rapids skyline is set for a transformation with the planned addition of three new high-rises, a project spearheaded by Fulmar Property Holdings, a firm with ties to prominent local families DeVos and Van Andel. The Grand Rapids City Commission gave the green light to an incentive plan on Tuesday, with a final vote in favor of the $800 million development, as reported by WOODTV.
Despite the overall support, there was contention, and 3rd Ward Commissioner Kelsey Perdue cast a single dissenting vote. The incentives still require state approval. In a display of civic aspiration, Mayor Rosalynn Bliss praised the project, "We know that this corner, it’s been privately owned and it has sat vacant decades," according to WOODTV. "So I’m excited to see a project of this scale and scope move forward," Bliss added.
Set to rise on a 6.9-acre site, the project features a 21-story office tower, a 43-story residential tower, and a 27-story hotel and condo tower, with the residential building set to become the city's tallest. Highlighting the community benefits, Bliss told WOODTV, that the development is expected to generate thousands of jobs and offer over 700 housing units. It also proposes improvements to the riverfront, including a public trail and green space.
The driving force behind this initiative, the Transformational Brownfield Plan, would provide approximately $588 million in incentives from state and city coffers. In turn, developers have committed $8.5 million to the Grand Rapids affordable housing fund, which they argue would support up to 85 affordable units. Critics, including local activist group Together West Michigan and Commissioner Perdue, decry this figure as insufficient in the context of the city's extensive needs, with Perdue telling WOODTV, "Right now, the contribution to the affordable housing fund, the amount and the schedule, would allow us to build less than two units a year. I find that unacceptable."
Addressing the gap between development and community needs, Sarah Rainero, Economic Development Director for the city, expressed optimism to WZZM13 about the steady revenue for the Affordable Housing Fund. Meanwhile, the community's reaction was mixed, with some residents citing the project's lack of commitment to affordable housing and others concerned over existing infrastructure, with calls from South-East side residents at the commission meeting to prioritize existing water main issues before new developments during the water main break back in June.
The contentious issue of public financing for private development took center stage in the discussion with Joe Agostinelli, founder of Michigan Growth Advisors, defending the scale of the incentives as crucial for realizing the project's ambitious vision, as reported by FOX 17 News. However, for Perdue and others calling for greater transparency and public benefit, the negotiation regarding the affordable housing fund contribution, workplace development support, and minority-owned business inclusion remains a notable sticking point in ensuring that the project aligns with broader communal equity and infrastructure needs.
