A recent article in the Grand Rapids Press related to recent studies and articles categorizes the downtown Grand Rapids Michigan housing market as “one of the nation’s best for rental housing investors,” calls the situation “a critical mass,” quotes statistics like “98.77% occupancy,” and names the new $40 million “Silver Line” high-speed bus route set to launch Summer 2014 as a means for continued and increased prospecting.
Life Cycle Property Management provides investment consulting, advice, and full service asset management for Grand Rapids clients as well as investors across the United States.
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“Grand Rapids’ downtown apartment market has reached “a point of critical mass” that is likely to attract new investors and new developers, a Chicago-based commercial real estate firm concluded in a report published this week.
“Naturally, the rampant construction and re-population of the urban core won’t continue at its current rate forever, but the city has created a solid and positive base from which to work from,” the 20-page report by Triad Real Estate Partners concluded.
The report concluded the success of the downtown housing market is across the board, with new subsidized housing and market rate housing in the pipeline and a resurgent market for downtown condominiums.
“Perhaps the picture that these rankings and statistics are painting is becoming clear – almost anything you want to measure and anyway you want to measure it, things are moving in the right direction in Grand Rapids,” the study said.
“To call Grand Rapids’ resurgence miraculous would be to deny credit to the multitudes of individuals who have labored tirelessly over the past two decades, dedicated to making their collective vision of a prosperous Grand Rapids a reality,” said the report…