GRAND RAPIDS, Mich. — The Grand Rapids skyline is one step closer to having a new look.
The developer, Progressive Companies, wants to transform the lot of the former Charley's Crab near Fulton and Market street, into three brand new towers.
The project was first announced last week, but the Brownfield Redevelopment Authority officially heard the proposal at Wednesday's meeting.
"This is just meant to be an introductory conversation," said Sarah Saucy with the City of Grand Rapids.
"So, no decisions today, but just hoping to get that dialog going."
The three towers are each set to have different features: one will house a hotel and condos, another will jsut be residential units, and the the third will act as an office building.
Progressive companies sees real opportunities for the project, especially considering the growth happening in downtown GR.
“We look at where the site is located relative to the arena and now construction of the Acrisure Amphitheater," said Brad Thomas, President of Progressive Companies.
"We recognize we're right at sort of this elbow, and to think about the opportunity from this growing sports and entertainment district in Grand Rapids... and how do we capitalize on that?"
The project is set to cost about $738 million, with Progressive seeking $543 million in public funding.
The "public" funds will not come from the city budget, but from tax revenue generated by the towers.
"Hopefully those people go into our businesses and other business corridors to connect with individuals." Commissioner Milinda Ysasi said.
"Those who have made Grand Rapids their home for their small business... that's what I'm hopeful for, is a maximizing effect to a project like this."
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