LANSING, Mich. — Gov. Gretchen Whitmer announced Tuesday 58 new apartment units in Grand Rapids will be built with support from the Michigan Strategic Fund.
Plans are in place to construct a mixed-use building on Wealthy Street along the Sheldon Avenue corridor, according to the Michigan Executive Office of the Governor.
We’re told the building will contain 58 units priced at market rate along with 2,400 square feet of commercial space.
The state tells us development is estimated to yield $16.4 million in capital investment, adding the building will rejuvenate the neighborhood with greater walkability and vibrancy. The project may lead to more investment later down the line.
READ MORE: Governor Whitmer announces $1.4M toward affordable housing in Grand Rapids
