TCD – Diamond Place Mixed-Use Development – Michigan - Project Profile
"TCD – Diamond Place Mixed-Use Development – Michigan - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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Third Coast Development (TCD), through its subsidiary Diamond Place LLC (DPL), is undertaking to contract a mixed-use complex in Grand Rapids, Michigan, the US.
The project involves the construction of a five story mixed-use complex on 1.13ha of land. It includes the construction of 165 apartments, 2,137m2 of ground floor commercial space which includes 1,486m2 for a grocery store, a multi-story parking garage with 240 spaces and related facilities.
Out of 165 apartments, 98 apartments are to be designated for income restricted tenants.
PK Development Group LLC, an in-house division of PK Housing & Management entered into an agreement with DPL to develop the project.
Progressive AE has been appointed as an architect for the project.
On July 18, 2016, the project has secured US$500,000 ad supplemental funding from Environmental Protection Agency and the funding will be used to facilitate the cleanup of the project site.
In September 2016, received US$2.8 million loan and up to US$9.9 million in Brownfield abatement cost reimbursement were approved by the Michigan Strategic Fund for the project.
Grand Rapids City Council approved a Payment In Lieu Of Taxes (PILOT) agreement in support of the project. The Michigan State Housing Development Authority has also approved a $1.48 million Low Income Housing Tax Credit for the project.
On January 25, 2017, groundbreaking ceremony held marking the commencement of construction.
Construction activities are underway and scheduled to be completed by the fourth quarter of 2018.
The project involves the construction of a mixed-use complex comprising three, multi-story buildings on 1.13ha of land in Grand Rapids, Michigan, The US.
The US$42 million project includes the following:
1. Construction of 165 apartments
2. Construction of 2,137m2 of commercial space which includes 1,486m2 for a grocery store
3. Construction of a multi-story parking garage with 240 spaces
4. Construction of related facilitiesReasons To Buy