Developer Woda Cooper Cos. has broken ground on Breton Grove, a 90-unit affordable multifamily community in Grand Rapids, Mich. The project will come online in two simultaneously built phases, with completion expected in late 2024.
Hooker DeJong provided architectural services and Moore & Bruggink is the civil engineer. Structural engineering for both phases is being handled by Hooker DeJong and Holland Engineering, while Sol Design + Consulting serves as sustainability consultant.
Woda Cooper currently owns two properties in Grand Rapids totaling 108 units, along with three more under various stages of development totaling 159 units. The developer has been active nationally as it recently partnered with IMPACT Community Action and broke ground on an affordable project in Ohio. Earlier this year it opened another income-restricted community in Georgia.
A focus on supportive services
Breton Grove’s two buildings will encompass one- and two-bedroom floorplans, available for residents earning between 30 and 80 percent of the area median income. It will also include 33 permanent supporting housing units for people facing homelessness, as well as units adapted for residents with sight and hearing disabilities. Local nonprofit Community Rebuilders will offer supportive services at the property.
All apartments will have kitchens with ENERGY STAR appliances, including dishwashers and microwaves. Both buildings are expected to achieve LEED Zero Energy certifications.
The community is taking shape at 2400 43rd St. SE, roughly 10 miles from downtown Grand Rapids. The location is also roughly 5 miles from the Gerald R. Ford International Airport and adjacent to various retail options.
Multiple sources of financing
Merchants Capital is the primary equity investor in both phases of Breton Grove. Independent Bank is a secondary equity investor and has also provided a construction loan for the first phase. Merchants Bank of Indiana, an affiliate of Merchants Capital, is providing construction financing for the second phase. CF Bank will provide permanent mortgages for Brenton Grove I, and Cedar Rapids Bank & Trust for Brenton Grove II. The development also benefits from $1.3 million in LIHTC funding from the Michigan State Housing Development Authority, as reported by WGVU News.
As part of the groundbreaking ceremony, Woda Cooper announced the launch of the Contractor Assistance Program, spearheaded by MSHDA, which also provided $1.7 million. The program is meant to grow the construction workforce through deploying technical and training assistance to individuals interested in the trade.
