Derek Coppess says demand for cool apartment spaces in downtown Grand Rapids has spurred him into developing some 65 loft-style apartments scattered throughout the city center.
Coppess, who owns The Coppess Group
real estate firm, announced this week that his newest venture, 616 Lofts
, has invested nearly $2M in 25 new loft-style apartments in two historic buildings at 139 Pearl St. NW and 206 Grandville Ave. SW. The apartments have a move-in date of August 1.
616 Lofts also proposes ten more apartments at 140 Monroe Center and another 30 at undisclosed locations throughout the downtown.
"Everything follows people living somewhere," Coppess says. "Grand Rapids has gone a long way to building up downtown through all the philanthropy, and now it's up to the rest of us to bring people downtown to enjoy what we have here."
The three floors above Flanagan's
(139 Pearl NW) are now home to three studio apartments plus six one-bedroom and six two-bedroom units. Coppess says about half are leased.
206 Grandville offers six two-bedroom and four one-bedroom units on floors four and five.
Coppess says the apartments have traditional elements, such as exposed-brick walls, aged hardwood floors and ceiling heights from 12 to 16 feet. Modern amenities include stainless steel appliances and granite countertops. Rates range from about $700 for a studio to $1,600 a month for a two-bedroom.
"Eighteen months ago I opened up (616 Lofts) by word of mouth and was bombarded with demand," says Coppess, who developed what he calls a "prototype unit" at 190 Monroe two years ago and now lives there. "There are a lot of condos downtown, but they have served as a barrier to entry to some people who want to live downtown."
Coppess has opened the vacant third floor of the 140 Monroe Center property to the live art event, SPACE
, which takes place on June 10. Read the article here.
Source: Derek Coppess, 616 Lofts; Suzette Garvey, Simply Genuine Communications
Writer: Deborah Johnson Wood, Development News Editor