Monroe Center Facelift – Downtown Grand Rapids

Epicenter of Downtown Grand Rapids Condos Getting a Facelift

 Monroe Center in downtown Grand Rapids could easily be called Condo Central. There are several condo developments in various stages of development. We have new construction condos like the affordable Fox Lofts and new executive condos like the McKay Towers. We have nearly completed projects like the Brickway Residences (already sold out) and Monroe condos. We have recently completed condos like the gorgeous 65 Monroe condos and we have several established condos like Cityview, Front Row and Peck condos. Several of these condos are located in a Grand Rapids Renaissance Zone, which means that City and State income taxes and property taxes are waived. In the extended zone, taxes are waived until 2017.

As reported by David Czurak of the Grand Rapids Business Journal, several buildings on Monroe Center from the five story Kendall Building on the east end, to several historic buildings on the west end will be the recipients of long overdue renovations. Brice Bossardet of Virgin Soil LLC is working his magic on the Kendall building but he won’t be alone. Brice has done a fantastic job renovating the old building over the top of XO Asian Cuisine and converting them into the Brickway Residences. He has also rehabbed the eyesore at 65 Monroe into really incredible condo lofts and that project alone has significantly improved the look of that corner of Monroe Center.

Locus Development with John Green and Andy Winkel plan to rehab three landmark buildings which are each over 130 years old. They are looking at a $4.5 million dollar historic rehab to the upper floors of the Flat Iron, Herkner and Groskopfs buildings. The work they are planning will conform to historical renovation standards the project will seek LEED certification. Locus Development will be asking for local and state grants and state and federal tax credits to help with the project’s costs.

Developers like these with the vision and the will to carry these projects through are a definite credit to the city and developments like this will only help condo sales and property values in the downtown Grand Rapids core.

If you have any questions about the Grand Rapids real estate market in general or the downtown condo market in particular, visit my website or contact me any time.