GRAND RAPIDS — Developers of an apartment project along the Grand River north of downtown Grand Rapids secured state backing.
The Michigan Strategic Fund on Tuesday approved $1 million in local and school tax capture to mitigate the cost of removing contaminated soil, demolition of an existing building, and site preparation and remediation for the $9.6 million project.
The five-story River’s Edge at 1001 N. Monroe Ave. will consist of 32 apartments and what John Wheeler, director of business development at Orion Construction, described as a “high-end” restaurant with a “farm to table” theme.
Orion Construction expects to begin work on the project on early 2017.
The developer initially did not plan to seek state incentives but decided to pursue the state brownfield tax incentives “because of the soil conditions and the costs associated with remediating the site,” Jason Wheeler, public relations coordinator for Orion Construction, wrote in an email to MiBiz.