SW Real Estate Investment announced the start of construction at 4325 Breton Road SE. That’s where the site of a shuttered Family Fare grocery store is being converted into 168 residential housing units.
Seven three-story buildings will contain 24 units for a mix of 84 one-bedroom and 84 two-bedroom apartments. Almost half of those units will be income-restricted for households earning 95% to 100% of area median income.
In September, developers received unanimous tax increment financing approval from the Grand Rapids City Commission. It captures future property tax revenue from the increase in a specific area’s property value to pay for improvements within that area.
A housing needs assessment released in June by Housing Next shows the area’s housing gap narrowing slightly, with Kent County adding more than 6,000 new housing units from 2022-2024. The county is expecting over 6,300 new households by 2030, with 30% of those in Grand Rapids.
The Breton project is expected to be completed in 2027.
For a weekly dose of news right to your inbox, sign up for the WGVU newsletter.
