Grand Rapids Towers to Reshape Skyline with $800M Riverfront Boom

The Grand Rapids Brownfield Redevelopment Authority approved plans last week for a nearly $800 million project spanning three high-rises on 6-7 acres at Fulton Street and Market Avenue, site of the former Charley's Crab restaurant. Developers, including Amway-founding DeVos and Van Andel family members partnered with Chicago's Magellan Development, secured a $565.5 million incentive package, with the state approving $560.9 million in tax reimbursements covering about 70% of costs through the Transformational Brownfield Plan. Michigan Strategic Fund Board incentives are slated for review in February 2025, ahead of a public hearing on November 12.

The development features a 21-story office tower with 916,000 square feet atop an eight-story parking podium, set to break ground in fall 2025 and finish in fall 2027. A 43-story residential tower, poised to eclipse the 34-story River House as downtown's tallest, will add 595 luxury apartments — including 118 studios, 350 one-bedrooms and 117 two-bedrooms — with rents 36% to 92% above market averages, targeting households at 150% of area median income ($2,643-$3,928 monthly). An adjacent 27-story hotel-condo tower plans 130 rooms and 76 condos, both on parking structures totaling 2,510 spaces and 37,800 square feet of retail, with construction starting summer 2026 and completion by summer 2029.

This project arrives amid booming demand for downtown housing, with Grand Rapids/Kent County ranked a Top 10 housing market for 2025 by the National Association of Realtors and needing 35,000 more units by 2027. It adds 671 residential units (6.1% toward downtown's 11,000-unit goal), public greenspace, walking trails and riverfront access, enhancing connectivity near Van Andel Arena in the growing sports and entertainment district. UrbanGR estimates total costs at $738 million, positioning the towers to inject vibrancy into vacant lots just north of U.S. 131.