Great article on downtown development! Housing growth follows job growth…Great for the future of real estate near downtown Grand Rapids, Michigan.
Arena Place, 20 Fulton East, Venue Tower at the BOB, Lake Michigan Drive & Lexington, 820 Monroe, 740 Michigan Street (@Eastern), 555 & 601 Michigan, Gateway at Belknap (Coit & Hastings), Lofts on Clancy, Klingman Lofts, Morton House
“By our calculations, that adds nearly 1000 more apartments to the mix in the downtown and near downtown area — not to mention close to $200 million in construction activity.”
Following a trend that is happening nationally, new residential projects in downtown Grand Rapids and in the near downtown neighborhoods are at an all-time high, with growth primarily being fueled by apartment buildings. Residential projects thoughout the area are on the upswing as Grand Rapids continues to rebound from the recession and now leads the country in job growth. In case you hadn’t heard, Grand Rapis was recently ranked #3 in job growth in the country by Forbes Magazine, averaging 3 – 4 percent growth year-over-year, and almost 10 percent since the end of the recession.
Job growth drives housing growth.