GRAND RAPIDS, Mich. (WOOD) — A developer has announced plans to restore the former Olds Manor building in downtown Grand Rapids.
The proposed plan from CWD Real Estate would turn building, located at the northwest corner of Michigan Street NW and Monroe Avenue NW, into retail and living space.
The project is expected to include approximately 9,500 square feet of retail and restaurant space on the first floor, and nearly 80 market-rate one- and two-bedroom apartments on upper floors. For-sale condominiums will be located on the 10th and newly created 11th floor.
Included in the renovation will be an underground parking garage and restoration of the building’s historic facades.
The project is expected to cost between $22 to $26 million and has yet to be approved by the Brownfield Redevelopment Authority and Downtown Development Authority. Public meetings are expected to begin early January.
If the project gets the green light, construction will begin in the spring of 2015, and renovations are expected to wrap up in late 2016.
When the building first opened in 1923, it operated under the name of the Rowe Hotel and stood eight stories tall with about 300 rooms, according to a release.
Decades later, it was sold to American Baptist Home and Development Corporation and became a retirement home. The home closed in 2001.