GRAND RAPIDS, MI — The Grand Rapids City Commission has signed off on a pair of tax incentives for a project that would convert three floors of vacant office space at the historic Ledyard Building at 125 Ottawa Ave. NW into 36 apartments.
With the city commission’s approval this month, the $11.4 million project, led by Sam Cummings, managing partner of CWD Real Estate Investment, would be eligible for a $4.6 million reimbursement through the city’s Brownfield program.
The reimbursement, which would be paid out in increments over 30 years, comes from new taxes generated by the redevelopment. The reimbursement can be used for eligible demolition and construction costs…