The Grand Rapids City Commission has approved the transfer of $9.6 million to the city’s Affordable Housing Fund. That’s nearly half the funds generated from the $22 million sale of the Acrisure Amphitheater site. It’s also the largest allocation to the fund since its inception in 2021. Officials closed on the sale of the city-owned property this past April to the Grand Rapids-Kent County Convention/Arena Authority.
“This is a long-anticipated closing that finally occurred when the amphitheater was ready to be opened to the public earlier this spring.”
Katie Berens is Grand Rapids’ deputy city manager.
“The commission had long talked about transferring a portion of those proceeds to the Affordable Housing Fund, and that is what this accomplishes.”
One of the fund’s objectives is to make rental and home ownership opportunities more affordable for residents, especially those making at or below 80% of area median income.
A 2025 Housing Needs Assessment from Bowen National Research shows the need for nearly 34,000 additional housing units throughout the county by 2030.
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