Diamond Place – Grand Rapids, Michigan
Diamond Place was made possible by one of our most active partnerships with Third Coast Development. Third Coast has local expertise and demonstrated experience in commercial and residential development and leasing in the Grand Rapids market. In partnership with Third Coast Development, PK completed a large-scale mixed-use, mixed-income community at the northeast corner of Michigan Street and Diamond Avenue in Grand Rapids. Diamond Place is the redevelopment of a large, blighted brownfield site on a key corridor in Grand Rapids into 165 apartment homes and over 10,000 square feet of commercial space including a GFS Market, Giza Sushi & Ramen Bar and Tropical Smoothie Café. Our development team worked closely with the community to meet two primary needs: affordable housing in a neighborhood where market rent has been increasing and causing gentrification and a fresh-food grocery store in a USDA-qualified food desert. Diamond Place was financed with both low-income housing tax credits and new market tax credits, developed in partnership with Third Coast Development, and constructed by Pioneer Construction.