The Morton Developers Awarded MSF Loan

Submitted by whitemice on Wed, 02/25/2015 - 06:52

The Michigan Strategic Fund has awarded a low-interest $4,325,000 loan to facilitate the ~$34M renovation of The Morton. The renovation will turn the vacant building into a mixed used facility with 111 residential units as well as several condominiums.

More Information on The Morton

Proposed Rental Rates

Unit Size Rent
Single Bedroom $1,300+
Two Bedroom (two bath) $1,600+
Studio $1,000+

Statistics

Stat Value
Architectural Height 154ft. / 45m 12th tallest building in Grand Rapids... for now, February 2015. This ranking is likely to fall quickly.
Height (main roof) 144ft / 44m
Floors, above ground 13
Floors, below ground 2
Construction started 1922
Construction completed 1923
Current redevelopment started 2014
Original Architects Holabird and Roche
Original Cost $1.5M
Current Renovation Cost ~$34M
Style Beaux-Arts
Elevators 5
Most recent vacancy 2011 - 2014

Links

Tags: 
msf
development
mixed-use
themorton