GRAND RAPIDS — Orion Construction Inc. today formally broke ground on its proposed $9.6 million mixed-use development dubbed Fulton Square in the Eastown neighborhood.
The developer and builder plans to add 47 market rate housing units, ground-floor retail and restaurant space as well as 92 parking spaces to the currently vacant lot at the corner of East Fulton Street and Carlton Avenue.
The project is expected to open in early 2017.
“We are excited to be underway with Fulton Square and to have the support we’ve received for this project from the City of Grand Rapids and the Eastown Community Association,” said John Wheeler, director of business development at Orion Construction in a statement.
The project has received gap financing assistance in the form of Brownfield redevelopment incentives and Neighborhood Enterprise Zone (NEZ) tax abatements.
Partners in the two-building, 55,000-square-foot development include Orion Construction’s development arm Orion Real Estate Solutions (ORES) as well as Secchia-family development firm SIBSCO LLC and Choice One Bank provided additional financing, according to a statement.
Grand Rapids-based architecture firm Concept Design Group P.C. provided site and building design. The Grand Rapids office of Colliers International will market the retail space and serve as property manager.
MiBiz first reported on the project last January.
“This project transforms what was a vacant lot into an economic engine for the neighborhood,” Wheeler said. “Our aim was to create a mixed-use concept that created taxable value but also preserved the culture, character and intentions of the neighborhood. We felt this was a very successful collaboration with the neighborhood association and the City of Grand Rapids. Our design reflects the input from the community and the housing and retail desires of Eastown.”- See more at: https://mibiz.com/item/23569-orion-construction-moves-forward-with-fulton-street-mixed-use-development#sthash.BBKzGD8w.dpuf