Developer proposes inexpensive, 47-unit apartment project in Grand Rapids
GRAND RAPIDS – based in New York City Magnus Capital Partners LLC proposes building 47 affordable apartments on the west side of the city.
The site plan for the HŌM apartments The development at 960 Bristol Ave. NW comprises five separate buildings and would be available to households earning 40 to 80 percent of the median area income.
The Grand Rapids Urban Planning Commission will review the plan at its May 13th meeting. The developer is applying for funding from the Michigan State Housing Development Authority to offset some of the cost.
Plans call for one-, two-, and three-bedroom units on the nearly 12-acre property. The site plan amenities include a leasing office, bicycle storage facility, dog park, work area, common room, hiking trails, gym, green spaces, and café.
According to city planning documents, some community members raised concerns during the public relations work, mainly focused on potentially increased traffic and the exodus from the neighborhood’s mostly single-family homes. Some residents also want the land to be used for a park instead.
A traffic study carried out by Fleis & VandenBrink determined on behalf of the developer that, according to the planning documents, there would be “minimal impact on the existing road network”.
At the beginning of this year, the planning commission approved Magnus Capital Partners plan for 240 units HŌM apartments Housing estate also on the west side of the city.
Magnus Capital Partners has apartment complexes across the country and various developments in progress in west Michigan.