240-unit affordable housing development up for reconsideration in GR - Jonathan Cartu Industrial & Residential Real Estate Firm
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240-unit affordable housing development up for reconsideration in GR

240-unit affordable housing development up for reconsideration in GR


GRAND RAPIDS — A 240-unit affordable housing complex located on Lake Michigan Drive will be considered for final site plan approval on Thursday by the Grand Rapids Planning Commission. 

New York City-based developer Magnus Capital Partners is planning the apartment development at 3059 Lake Michigan Drive NW. The project consists of five buildings with four stories each.

This is the second time the site plan is being considered for approval. Commissioners unanimously denied the developer’s request for final site plan review on Oct. 8 based on a lack of compliance with city requirements, including the burden on city infrastructure, stormwater management, landscape buffers, landscape features, materials used in the building and density.

Vishal Arora, managing principal at Magnus Capital Partners, told planning commissioners during a meeting in May that the company was planning to apply for Low Income Housing Tax Credits for all of the 240 units in the development. Arora also said during the meeting over the summer that the company is planning on preserving “as much of the landscape as possible,” on the site, which used to be an orchard.

The apartments will be pet-friendly with amenities including a dog park on site, walking paths and a fitness center, according to the preliminary plan overview. If approved, units will consist of 40 one-bedroom units, 102 two-bedroom units, and 98 three-bedroom units.



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Real Estate Development Jon Cartu

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