616 Development planning new lofts on Monroe

GRAND RAPIDS, Mich. (WZZM) -- The company 616 Development is planning a new, $22 million renovation in Grand Rapids.

An old furniture building located at 820 Monroe is being transformed into an apartment complex with retail space on the first floor.

"This is our latest project that we are beginning construction on," says 616 Development's Monica Steimle. It has "about a 12-month timeline. We are going to have about 80 market-rate apartments, plus ground-floor commercial and retail, which is about 40,000 square feet. You can live here for about $800 for a studio, and a two-bedroom for about $1,600 a month."

Downtown development has taken off the last few years, with developers saying there is high demand for downtown living space.


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