Exciting news has been unveiled for the city of Grand Rapids as state leaders recently announced a major project set to transform the area. The Transformational Brownfield Plan, approved by the Michigan Economic Development Corporation and Governor Gretchen Whitmer, is expected to inject over $146 million in investments into the community, breathing new life into the historic Roosevelt Park neighborhood. Dubbed the Factory Yards Project, this ambitious undertaking promises to be a game-changer for Grand Rapids.
A Historic Site Reimagined
Factory Yards will encompass a sprawling 15-acre site at 655 Godfrey Avenue SW, located just south of downtown Grand Rapids. This impressive project combines the restoration of historic buildings with innovative new construction. Three buildings, originally constructed in the late 1800s for the Luce Furniture Co., will be repurposed and integrated into the development. These buildings, which played a significant role during World War II as one of the first factories nationwide to employ women, will now find new life as part of this transformative initiative.
A Multifaceted Vision
Factory Yards will offer a diverse range of spaces and amenities that cater to both residents and businesses. The development plans include:
- Residential and Multifamily Units: An existing three-story building and a five-story building will be redeveloped to create approximately 382 residential and multifamily units. These units will offer a variety of options, from loft-style studios to one-, two-, and three-bedroom apartments.
- Commercial and Entertainment: The project includes the construction of single-story commercial buildings and a four-story multi-family building containing around 85 units. These spaces will be designed to accommodate retail, commercial, and entertainment ventures.
- Self-Storage and Fitness: A single-story warehouse on the site will be converted into climate-controlled self-storage units and fitness/recreational space, further enhancing the convenience and lifestyle offerings of Factory Yards.
- Public Plaza and Event Space: Factory Yards will also feature a public plaza, providing a communal gathering space for residents and the wider community. Additionally, an event space will be incorporated, facilitating various activities and gatherings.
Addressing Housing Needs
One of the most significant aspects of the Factory Yards project is its potential to alleviate the housing shortage in Grand Rapids. Out of the 382 residential units planned, 94 will be designated as affordable housing, making it more accessible to a broader range of residents. The remaining 373 units will be market-rate, offering a variety of housing options to suit different preferences and lifestyles.
Tax Incentives and Community Support
The Transformational Brownfield Plan provides crucial financial support to bring this vision to life. It includes several tax incentives, such as construction period tax capture, sales and use tax exemptions during construction, and income tax capture revenues over 20 years. Local and school property tax capture is also part of the package. Additionally, the City of Grand Rapids is supporting the project with a tax abatement and local property tax capture.
A Bright Future for Grand Rapids
Factory Yards promises to be more than just a development; it’s a catalyst for revitalizing an overlooked area of Grand Rapids. This transformation will create new opportunities for residents and businesses alike, further enhancing the vibrancy and appeal of the city. Construction is slated to begin early next year, with apartments becoming available for leasing in early 2026.
Conclusion
The Factory Yards Project is a testament to the commitment of state leaders and the community to transform Grand Rapids into a thriving and dynamic city. By reimagining historic spaces and introducing modern amenities, this initiative not only addresses housing needs but also breathes new life into the Roosevelt Park neighborhood. As construction begins and progress unfolds, Grand Rapids residents and visitors can look forward to a brighter and more vibrant future for this iconic city.
For more information visit WoodTV 8 and WZZM13
Check out Factory Yards’ website for further updates and opportunities!