A developer is building 20 apartments in the downtown of a lakeshore city.
Portage-based Hinman said last week it has begun work on Terrace Plaza Apartments on the top two floors of the Terrace Plaza office building in Muskegon, at 316 Morris Ave.
The project should be completed next summer.
The project is expected to cost $1.7 million, according to City of Muskegon documents. The project has received support from the Michigan Economic Development Corp., or MEDC.
“This is an exciting time for downtown Muskegon,” said Roger Hinman, CEO, Hinman. “The ‘WatchMuskegon’ campaign, new restaurants and shops have brought a lot of energy to the area. This increased activity also means that there is a demand for downtown living.”
The building’s sixth floor will include 19 one- and two-bedroom apartments, ranging from 618 to 1,097 square feet. The seventh floor will include a 2,337 square foot, two-bedroom penthouse apartment, as well as a common area fitness center and community room with an outdoor patio.
It will be the first market-rate apartment project in Muskegon in several years, said Cathy Brubaker-Clark, director of community and economic development, City of Muskegon.
“We expect several more projects to follow,” Brubaker-Clarke said. “The interest in downtown living has grown by leaps and bounds in the last two years.”
Built in 1978, Terrace Plaza was jointly owned by Sealed Power Corporation, Howmet Turbine Components Corporation and Landman, Hathaway, Latimer, Clink & Rob.
The multi-tenant office building was purchased by Hinman in 2005. It is being used for both office space and apartments.
Story written by Pat Evans, Grand Rapids Business Journal