The $25 million Lake Eastbrook Apartments project would build approximately 132 apartments within four buildings on the former site of the Orbit Room concert venue behind Centerpoint Mall. Grand Rapids’ Economic Development Director Sarah Rainero explains how many units will be reserved for residents making area median income.
“We’re setting aside 45% of the units, which is about 60 of the 132 for households earning 95% to 100% AMI or less.”
Developer Scott Wierda, CEO of SW Real Estate Investment, says he’s excited to build on the Orbit Room’s former site, having frequented the venue in his youth.
“We think it’s a great site. Lake Eastbrook Boulevard’s been improved already with the sidewalks and landscaping and infrastructure. So, it really does lay out quite well.”
Kent County Commissioner Robert Womack, himself a former house DJ at the Orbit Room, praised the project’s AMI structure as well as how long those income qualifications will last.
“Seeing that, and the fact that it’s going to be in there for 25 years, is just very, very important.”
The commission will vote on whether to approve those Brownfield tax incentives at a future meeting.
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