It's been dubbed The Wealthy-Jefferson Project for years, but the proposed multi-million-dollar development at Grand Rapids' southwest gateway encompasses three city blocks, not just one street corner.
Last week, the
Michigan Economic Growth Authority (MEGA) approved nearly $1.1M in Brownfield Redevelopment Authority tax credits, the final step to moving the decade-old residential/commercial/grocery store project to a point where the property owner,
Inner City Christian Federation, a nonprofit affordable-housing developer, could break ground. The ceremony, set for May 31 at 5:30 p.m., could be what proponents call just the beginning of over $17 million in development.
The three blocks, bounded by S. Division Avenue (west), Wealthy St. (north), Jefferson Avenue (east) and Buckley St. (south), sit mostly empty after the removal of several outdated buildings years ago.
The $7.5M first phase of a massive six-phase undertaking could bring two three-story buildings with 30 one- and two-bedroom apartments and 8,500 square feet of retail space to the area on the south side of Wealthy, between LaGrave and Sheldon avenues.
"I believe the $17 million estimate in future development (the amount stated in a May 17 press release from MEGA) is extremely conservative," says Jonathan Bradford, CEO of ICCF. "We anticipate a minimum of 150 housing units, attractive green spaces and 55,000 to 60,000 square feet of retail space, half of which would be a grocery store developed in phase four."
Bradford says it's crucial that subsequent phases of the project follow on the heels of this first phase as encouragement for potential investors in the proposed grocery store.
"We're talking about changing six decades, since the expressway opened, of disinvestment and relegating this area as one of little or no desire," Bradford says. "If you were a grocer, you would want to know with some high level of confidence that all this other stuff is going to happen, that you're not going to be the lone ranger."
Bradford expects phase one to wrap up in March 2012. The project architects are Seth Harry and Integrated Architecture. Rockford Construction is the construction manager.
Source: Jonathan Bradford, CEO, Inner City Christian Federation
Writer: Deborah Johnson Wood, Development News Editor
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