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Public hearing held on 125 Ottawa redevelopment; project seeks 15-year NEZ for 36 apartments
Summary
Developers outlined plans to convert upper floors at 125 Ottawa into 36 apartments with $11.4 million in eligible investment, a 15-year neighborhood enterprise zone application, 20% of units set at or below 60% AMI (8 units), and a 30% aspirational subcontracting goal for women- and minority-owned firms; commission referred the item to the Committee of the Whole.
Developers for the 125 Ottawa redevelopment presented plans to the Grand Rapids City Commission to convert the building's second through fourth floors into 36 residential apartments, with a total eligible investment of $11,400,000. The project team requested establishment of a Neighborhood Enterprise Zone (NEZ) that could qualify for a 15-year term because the proposal meets city investment criteria.
Sam Cummings introduced the…
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