Jun 30, 2024
The first units in a $16.5 million, four-story apartment development at the corner of Wealthy Street and Sheldon Avenue in downtown Grand Rapids are expected to be ready for tenants in late August.
The project, which has 58-units spread across two buildings, is being developed by Cella Building Company, and tours and leasing are starting now, said company CEO Mike Coyne.
A range of apartment-types are included in the buildings.
There are 38 one-bedroom units, six studios and 14 two-bedrooms, with rental rates ranging from $1,299 to $2,099. All-electric and energy efficient, the buildings are slated for Energy Star certification, a program administered by the U.S. Environmental Protection Agency.
“Interest in market-rate housing on the southern edge of Downtown is driven by the location,” Coyne said. “A clear majority of people favor neighborhoods with a walkable mix of houses, businesses and stores rather than neighborhoods that require more driving between home, work and play.”
With a modern décor, the apartments feature kitchen islands, stainless steel appliances, and quartz countertops. The first building in the two-building project is expected to be complete by late August, with the second building slated to open by fall. In addition to apartments, the buildings have four