With the expected influx of medical professionals and healthcare-related businesses, Grand Rapids' population numbers are projected to rise. Some experts say there aren't enough condos, and of those existing and proposed, few are affordable for entry- and median-level incomes.
According to excerpts from the story:
As the tide of medical development in Grand Rapids swells, it will carry the burgeoning downtown condo market with it, those in the industry say.
With a metropolitan population of more than one million people, the 839 condos downtown don't even hint at meeting demand, noted Jon Rooks, developer of Union Square and Boardwalk condo projects. Even with the 295 under construction and the 156 more proposed, condo development falls short of where it should.
"Grand Rapids downtown real estate has become expensive, and new construction is extremely expensive," Rooks said.
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