Now that the cap on the transformational brownfield program has been doubled. Developers across the state are going to be submitting their plans to get access to this money. One of these developers, Joseph Elias, is proposing a 20-story residential tower on the Grand River north of Downtown Grand Rapids. He plans to submit his application in the next two months.
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Developer Joseph Elias, managing partner of Grand City Capital who is behind the project at 260 and 282 Leonard St. NW along the Grand River in Grand Rapids, aims to file his transformational brownfield plan application in the next two months.
Elias told Crain’s in May that the project, which is significantly expanded from an earlier vision, was on ice until the transformational brownfield program was expanded.
“There is a massive structural shortage of housing in the Grand Rapids area that we’re trying to solve for, and help employers attract and hire talent,” Elias said. “There is a lot going on along the riverfront, so it just makes sense to continue to develop the area and see it thrive.”
Elias’ project could be up to 20 stories with hundreds of apartment units. Rising construction costs make the project unworkable without a transformational brownfield plan, Elias said.
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