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A few weeks ago, Brookstone Capital began construction on a new $15 million, seven-story residential and retail project on a vacant downtown lot at 240 Ionia Ave. SE, across from Heartside Park.
Last week, the Midland-based developer announced a new $40 million, 14-story residential and retail project it proposes to build on a vacant downtown lot at 20 E. Fulton, across from Monument Square Park.
"It's a very impressive and beautiful project. The developer has a wonderful track record of developing projects in the city," said Kristopher Larson, executive director of the Grand Rapids Downtown Development Authority.
Brookstone Capital Principal Karl Chew revealed his latest project at last week's DDA meeting and the board responded by granting the firm a Payment in Lieu of Property Taxes, or PILOT, for the 108 units he proposes to build....