An increasing number of young singles, young couples and empty nesters looking to live in Grand Rapids’ urban core has driven the creation of some 1,300 residential spaces in just four years. A new study to determine just what’s available and who’s planning to move in will help developers create housing options that fit the growing market.
According to excerpts from the story:
GRAND RAPIDS — The Downtown Development Authority will update the housing market analysis it conducted for the district four years ago and will contract for the work with the same New Jersey firm that did the initial analysis in 2004.
Zimmerman/Volk Associates of Clinton, N.J., has agreed to perform the update for $17,500, with half of the payment to come before the work starts and the remainder due when the final report is filed.
DDA Executive Director Jay Fowler said market changes in the district and a continuing interest from developers in creating residences downtown are the main reasons driving the update effort. Fowler added that local developers felt the time was right for another housing report.
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