Orion Construction, 616 Development Move Forward with Residential Projects in West Michigan
- Jan 30, 2014
By Veronica Grecu, Associate Editor
Orion Construction, a real estate development and management company based in Grand Rapids, is working on a student housing complex in Allendale Township.
Detroit Free Press reports that the $20 million project will occupy an empty 20-acre site located at 5050 Pierce Street near the Grand Valley State University campus and owned since 2013 by Grand Villages—a joint venture of Orion partners Gary Postma and John Wheeler along with Alan Hoffman as majority investor.
Phase I of the project, which broke ground on January 23, is estimated to cost $7.5 million. When completed in August this year, it will provide one fraternity house and five sorority houses ranging in size from 9,800 square feet to 12,000 square feet. Each house will feature 14 to 17 bedrooms, according to the news source. The second phase of the Grand Villages student housing project is set to begin as soon as the initial phase is completed.
In further West Michigan residential news, MLive.com reports that the former Sackner Products Co. building will be converted into a residential structure in a $21.8 million venture by Lofts on 820 LLC—a limited liability company associated with 616 Development, a boutique urban development company focused on revitalizing underutilized historic buildings in Grand Rapids and beyond.
Built in 1920 with multiple additions over the following three decades, the four-story structure served as a manufacturing site for the Sackner Products Company. Since the 1980s the 156,600-square-foot building has been used for office and retail; in October 2013 it was acquired by Lofts on 820.
The refurbished building located at 820 Monroe Avenue will have only 120,000 square feet of usable space and will include 86 market-rate apartments, as well as new retail and office spaces totaling 27,000 square feet.
Rendering of Grand Villages credits to Orion Construction; 820 Monroe Avenue image via Google Maps