GRAND RAPIDS, Mich. — A historic building on Wealthy Street will likely soon be renovated into retail space and apartments, pending grant approval from a state board.
In February, plans for the project were presented to the Grand Rapids City Comission by Brad Veneklase, a real estate broker and founder of Urban Soil Realty.
"It's putting puzzles together. It's taking a little bit of risk," Veneklase told FOX 17 on Thursday. "It's improving the community that I live in."
The two-story building, located across the street from Wealthy Market, was built in 1884. In its near-150-year history, it's held a women's hat store, grocery store, shoe store, home improvement business, a company called Bob's Electric Kitchen and more.
"The older rehabs are more fun," Veneklase said.
Veneklase plans to put four apartments in the building's top floor and use the main floor for retail or restaurant space.
The apartments will likely be around 500 square feet in size with their rents set around $1,250 a month.
"It's a full gut rehab," Veneklase said. "I get inserted into something that's already here."
For the project, the real estate broker has received a $25,000 facade improvement grant and a $7,500 architectural and design services grant from Grand Rapids' Uptown Corridor Improvement Authority.
In order to begin construction, Veneklase says he also needs approval for a Community Revitalization Program grant from the Michigan Economic Development Corporation (MEDC). He's hopeful his application for the grant will be accepted.
"I expect to have it any week, and then we can go to bid for the construction services and get started," he said.
READ MORE: The Blue Jay Hotel transforms blighted west-side building
Given the building's age and location on Wealthy Street, the redesign of its exterior will have to be in compliance with Wealthy Theatre Historic District guidelines.
If all goes well, construction could take around ten months.
