GRAND RAPIDS — A group of developers in Grand Rapids have teamed up to build a nine-unit townhouse condominium project near the Breton Village shopping center.
Townhomes of Breton Village LLC, which does business as Indigo Homes, will develop the project, while Grand Rapids-based real estate firm Steve Volkers Group LLC will head up sales and marketing, according to a statement.
Expected to break ground this fall, the project will include nine condominium units within two buildings on land just south of the intersection of Breton Road and Burton Street and behind the Fresh Thyme Farmers Market grocery store.
The units will include two and three bedrooms and 2.5 bathrooms.
The project has already received city approvals, and the developers plan to submit materials for their building permit soon, according to Ryan Schmidt, a principal with Indigo Homes.
No state or city incentives are planned for the project, Schmidt told MiBiz in a text message. He declined to give an estimated project cost.
A filing with federal securities regulators on Monday morning shows the partners raised $300,000 in equity for the project.
Belmont-based Point Six Properties LLC is serving as general contractor for the project. Indigo Homes partner Greg Schmidt will handle architectural design.
The development is a side project for Ryan Schmidt, who is the vice president of real estate development for Inner City Christian Federation (ICCF), a Grand Rapids-based nonprofit real estate and community development organization.