CWD Real Estate planning to redevelop a historic Grand Rapids property
Olds Manor, the last major unoccupied structure in the heart of downtown Grand Rapids, is going to be redeveloped into a mixed-use residential and commercial building that will offer apartments, condominiums and retail space.
CWD Real Estate Investment has confirmed that it is planning to redevelop Olds Manor, which was formerly known as Rowe Hotel Building. The property is located at 201 Michigan St., at the corner of Monroe Avenue, in downtown Grand Rapids.
The developer's mixed-used project would offer 9,500 square feet of retail and restaurant space on the first floor; nearly 77 apartments on floors three to nine; condominiums on floors ten to eleven. The new building will also be equipped with an indoor community room, fitness facilities, rooftop amenities and underground parking.
Nick Koster, vice president of operations at CWD Real Estate, "West Michigan's life science industry is growing faster than the national rate . The Rowe has been designed to serve many of the new professionals being recruited to our city for hospital, university and research jobs."
The project, which is expected to restore the building's historic facades, would cost the developer $22-$26 million. The building under discussion was acquired by Rich DeVos and RDV Corporation more than a decade ago.
If required approvals are received, construction is expected to start in the spring of 2016 and finish by the end of 2016.
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