fbpx
Rendering courtesy of Hooker DeJong Inc. Rendering courtesy of Hooker DeJong Inc.

Developer proposes affordable, 47-unit apartment project in Grand Rapids

BY Monday, May 03, 2021 10:22pm

GRAND RAPIDS — New York City-based Magnus Capital Partners LLC is proposing to build 47 affordable apartments on the city’s west side. 

The site plan for the HŌM Flats development at 960 Bristol Ave. NW includes five separate buildings and would be available for households earning wages of 40 percent to 80 percent of the area median income. 

The Grand Rapids City Planning Commission is set to consider the plan at its May 13 meeting. The developer is applying for funding from the Michigan State Housing Development Authority to help offset some of the costs. 

Plans call for one, two and three-bedroom units at the nearly 12-acre parcel. The site plan amenities include a leasing office, bike storage, dog park, workspace, community room, walking paths, a fitness studio, green space and a cafe. 

According to city planning documents, some community members expressed concerns during public outreach sessions mainly focused on potentially increased traffic and straying from the neighborhood’s mostly single-family homes. Some residents also want the land to be used for a park instead.

A traffic study conducted by Fleis & VandenBrink on behalf of the developer found there would be “minimal impact on the existing road network,” according to planning documents.

Earlier this year, the Planning Commission approved Magnus Capital Partners’ plan for a 240-unit HŌM Flats housing development also on the city’s west side.

Magnus Capital Partners has apartment complexes across the country and several developments in the works in West Michigan.

Read 8619 times
SUBSCRIBE TO MIBIZ TODAY FOR WEST MICHIGAN’S FINEST BUSINESS NEWS REPORTING >