$4 million from the Michigan Strategic Fund will support a five-story, mixed use building called “The Horizon” on Leonard Street.
Pinnace Construction Group will build the 171 apartments, retail space and an underground parking garage with a focus on energy-efficient design including solar panels and all-electric utilities.
The location offers affordable housing for employees working downtown, along the Medical Mile, or in the Creston and Leonard Business districts.
This week Governor Gretchen Whitmer visited the opening of a tiny home village in Grand Rapids and spoke about the state’s progress on affordable housing efforts.
“Four years ago, I said we would permit, build, or rehab 75,000 housing units in five years. We followed up with Michigan's first ever statewide housing plan, making Michigan a nationwide lead in addressing the housing crisis supply head on. We were aiming to hit 75,000 by September of 2026. Today, a full year before our deadline, we've been able to get it done.”
Whitmer has now increased the goal to 119,000 units.
Grand Rapids and Kent County face a critical housing shortage, needing nearly 34,000 new homes by 2029 to meet demand, according to a recent study by Housing Kent.
The city is supporting the new “Horizon” apartment project with a Neighborhood Enterprise Zone tax abatement of nearly $3 million, in addition to other state funding.
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