PORTAGE, Mich. (WOOD) — A $47 million project turning a contaminated former dumping site into high-demand housing in Portage is getting a boost from the state.
On Wednesday, the Michigan Economic Development Corporation’s Strategic Fund Board approved the Portage Brownfield Development Authority’s plan to capture more than $4.7 million in state taxes over 25 years to reimburse Tall Timbers Portage, LLC for cleaning up the site at 3413 W. Centre Avenue, just east of US-131.
The project is expected to be a development first for Portage as the first privately owned LEED-certified multifamily building with a structured parking deck. Tall Timbers Portage plans to build a four-story building housing 180 apartments on the 13.5-acre property. The apartment complex features will include decks, green roofs, Zoom rooms for people working remotely and common spaces.The underground parking deck would include 147 vehicle spaces.
Crews have already completed preparing the site. Construction is expected to begin soon after Wednesday’s approval. If all goes well, the project will be completed sometime in 2024.
The project is also getting approximately $6.4 million worth of city support through the brownfield plan. The MEDC says Portage city leaders consider the project a priority because it helps answer the growing need for more workforce and mixed-income housing, especially as Stryker, Pfizer and other area businesses grow. Tall Timbers Portage expects to reserve 10% of the apartments for households earning 80% to 120% of the area median income.
Tall Timbers Portage, LLC is owned in part by the Hinman Family, LLC, which also developed the triangular Residence Inn hotel at 10 Ionia in downtown Grand Rapids, 400 Rose apartments in Kalamazoo and Battle Creek Tower apartments. The other partner of Tall Timbers Portage, LLC is Joseph Gesmundo, who has been involved in hundreds of millions of dollars in previous developments.