Renaissance Place Townhouses

[GRDadof3]

City delays vote on downtown senior housing development

Apparently it was tabled because it only had one "market rate" unit, the rest were "affordable" and its funded through a number of Michigan tax credits. Commissioners feel there is now a market for privately funded developments downtown Muskegon.

Despite all the development going on in downtown Grand Rapids, there is still a need (I believe) for the continuation of Renaissance Zones and incentivized development, especially residential.

Muskegon's take on the issue?

[Larry Spataro]

City delays vote on downtown senior housing development

Apparently it was tabled because it only had one "market rate" unit, the rest were "affordable" and its funded through a number of Michigan tax credits. Commissioners feel there is now a market for privately funded developments downtown Muskegon.

Despite all the development going on in downtown Grand Rapids, there is still a need (I believe) for the continuation of Renaissance Zones and incentivized development, especially residential.

Muskegon's take on the issue?

[GRDadof3]

With all the surrounding income-limited properties nearby, do you think that will greatly affect the ability of the developer to market the property? Of course, it's not the city's job to help sell units, but would this also not put the developer in a dire financial position? I don't know the area, but I see a challenge with selling market rate in an area predominantly low income.

[Larry Spataro]

With all the surrounding income-limited properties nearby, do you think that will greatly affect the ability of the developer to market the property? Of course, it's not the city's job to help sell units, but would this also not put the developer in a dire financial position? I don't know the area, but I see a challenge with selling market rate in an area predominantly low income.