In July 2023, Michigan Governor Gretchen Whitmer signed into law an amendment to the state’s Brownfield Redevelopment Act that expands tax increment financing supporting certain housing developments.
Now, three mixed-use developments in Spring Lake and Hudsonville totaling almost $55 million in new development are benefitting from that amendment.
Winsor Place in Spring Lake will be a three-story mixed-use building featuring 41 rental units, 5 of those being income-based, and 2,700 square feet of retail space.
Prospect Flats in Hudsonville comprises two three-story buildings, also with 41 rental units, 5 being income-based, stretched over almost 1.5 acres.
Finally, Terra Station in Hudsonville will be a 12-building, mixed-use complex across 4.5 acres offering 141 rental units, 35 of which are income-based, with 4,600 square feet of retail space.
Grand Rapids-based Veneklasen Construction is developer of both Winsor Place and Terra Station.
According to a 2021 Ottawa County Housing Needs Assessment, the county needs nearly 4,400 new rental units, including over 1,600 new affordable housing units by 2025 to keep up with demand.
