Thompson Thrift Opens 3rd Michigan Community
PNC Bank provided $68.8 million in construction financing.
Marking its third development in Michigan, Thompson Thrift has officially opened The BLVD at Wilson Crossings, a 344-unit community in Wyoming, Mich., a suburb of Grand Rapids. A full completion is expected this fall.
The ribbon-cutting ceremony took place on May 29, at which point the community was 45 percent leased, as first move-ins began in the winter of 2023.
In 2022, the company bought the land for $5.4 million after receiving approval from the Wyoming Planning Commission. That same year, PNC Bank provided a $68.8 million construction loan for the project, according to Yardi Matrix data.
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Spanning more than 28 acres across 30 buildings, the community will encompass one- to four-bedroom floorplans ranging between 786 and 2,247 square feet. Apartments will feature quartz countertops, walk-in closets, smart-home technology, as well as patios or balconies.
Community amenities include EV charging stations, a swimming pool, a gym, a business center, focus rooms and a clubhouse, to name a few. Â
Located at 6219 Baneberry Ave. SW, The BLVD at Wilson Crossings is less than 1 mile off Michigan Highway 6, as well as roughly 4 miles southeast of Interstate 196. Employers such as Corewell Health Care Center and UM Health can be found within a 3-mile radius.
Grand Rapids’ multifamily pipeline
According to Yardi Matrix data, metro Grand Rapids had more than 4,800 units under construction as of May, accounting for 6 percent of total stock.
In the first four months of 2024, developers began construction on some 270 units in the area, a significant decrease from last year, when 676 units broke ground during the same period, Yardi Matrix data shows.
