New life planned for Kendall Building

GRAND RAPIDS, Mich. (WOOD) - A building in downtown Grand Rapids empty for more than 20 years has new owners.

616 Development has purchased the Kendall Building for $4 million and will restore the five-story, 122-year-old structure at 16 Monroe Center St. NW.

The 616 Lofts at the Kendall project will restore a landmark building at one of the city’s busiest intersections with 12 market-rate apartments, offices and ground-floor retail space, according to a news release. A rooftop deck will also be added for residents of the Kendall and other 616 Lofts buildings to use.

“This is a project we have dreamed about for years as we walked and drove by this amazing, but neglected, building,” said Derek Coppess, founder of 616 Development.

“This building boasts the best access to everything downtown has to offer, along with easy access to public parking ramps and public transit. In short, it has everything we look for in a 616 Lofts building.”

A company controlled by 616 Development closed on the purchase of the building last week.

Apartments at 616 Lofts at the Kendall are expected to start at about $800 for a one-bedroom or studio unit.

There will be three two-bedroom units, six one-bedroom units and three studio units inside the top three levels of the building.

616 Development plans to move its corporate offices into the second floor of the building, providing a buffer between residents and ground-floor retail tenants.

This follows the 24-hour building model that 616 Development has adopted at other projects downtown, including 616 Lofts on Ionia , a mixed-use project being completed this fall at 1 and 7 Ionia Avenue.

616 is in negotiations with several potential retail tenants.

“Our residents tell us they want to be in the heart of the city in unique spaces,” said Monica Clark, director of operations and community at 616 Development. “You can’t get much closer to the heart of the city than this historic building with its beautiful bay windows overlooking the Civil War monument and easy access to downtown theaters, restaurants, shops and parking. ”

The 616 Development team worked closely with Kristopher Larsen, the recently hired executive director of the Downtown Development Authority (DDA), and his now-retired predecessor, Jay Fowler, to bring the project to fruition.

616 Development is requesting the DDA’s support to cap property taxes on the building under the Michigan Obsolete Property Rehabilitation Act (OPRA). Coppess plans to introduce the project to the DDA board on Wednesday morning.

The developers also plan to request a state grant under the new Michigan Community Revitalization Program (CRP), which replaced the state’s Brownfield and historic tax credit programs this year.

616 Development was among the first developers in the state to receive a grant under the CRP program for 616 Lofts on Ionia Avenue.