GRAND RAPIDS, MI — A state board signed off Monday on a $560.9 million incentive package for a sweeping downtown riverfront development that’s drawn praise from city leaders but pushback from activists who say its proposed affordable housing contribution is too small.
The Michigan Strategic Fund (MSF) unanimously approved the Transformational Brownfield incentive package for Fulmar Development Partners, a partnership between the DeVos and Van Andel families and Magellan Development Group of Chicago.
Fulmar wants to build three high-rise towers on a 6.9-acre riverfront site at Fulton Street and Market Avenue SW, near Acrisure Amphitheater, that’s currently home to a surface parking lot. The $795.8 million project includes an office tower, a hotel tower, and a 43-story residential tower that, if built, would be the tallest building in Grand Rapids…