GRAND RAPIDS, Mich. — Developers have a plan in the works for the southwest side of downtown Grand Rapids, a site that's currently home to an industrial warehouse.
Factory Yards Development LLC is designing a large-scale, mixed-used redevelopment project and will be updating Grand Rapids city leaders on Tuesday.
The plan includes a cocktail bar, gym, food hall, apartments, and even an outdoor plaza.
The Factory Yards, as the project is called, would require the overhaul of some existing buildings, as well as the construction of new ones, along Godfrey Avenue SW south of Market Avenue SW.
"The first component of the project includes the renovation of a vacant, historic warehouse," say city documents.
Developers are looking to renovate a 5-story warehouse, a 3-story warehouse, a single-story warehouse, and a 2-story commercial building. They also plan to build a greenspace courtyard, or outdoor plaza, as well as a brand-new residential building with hundreds of apartments.
The new building would also feature a ground-floor commercial space, a gym, a food hall and event space, and 500,000 square feet of self-storage.
In total, Factory Yards would take over 15.5 acres and cost $150 million.
However, the project could provide housing for hundreds of people. With 382 units pitched for the renovated warehouse, city documents show the developers are also considering mixed-income housing options.
An ambitious project in size and scale, the developers hope Factory Yards also becomes a community hub. In documents submitted to city commissioners, the developers say they’ve worked for years with other local organizations, such as the Development Committee for the nearby Roosevelt Park Neighborhood.
“The project benefits from extensive community engagement and is envisioned to create opportunities for both new residents and local entrepreneurs to create a unique district and economic opportunity for all,” reads the documents.
Factory Yards developers are also researching sustainability features such as solar panels and closed loop geothermal systems, which developers say could potentially lower rent for residents. Charging stations for electric vehicles are also in the works.
City documents indicate the Planning Commission has already approved rezoning applications for the project. Factory Yards developers will give a project overview to the city's Economic Development Planning Committee on Tuesday.
