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Developer plans to bring 4 new stores to Grand Rapids’ southeast side

Posted By: mlive on January 29, 2024.  For more information, please click here to read the source article.

A developer plans to bring four new shops, and an estimated 10 new jobs, to Grand Rapids’ southeast side.

1947 Eastern Avenue, LLC has plans to rehabilitate two existing buildings – 1947 Eastern Ave. SE and the adjacent 1941 Eastern Ave. SE – to house five commercial storefronts.

The buildings are near the intersection of Eastern and Burton and are currently vacant except for Classy Nails nail salon, which will stay in business following the rehabilitation.

The developer plans to recruit small service businesses, such as restaurants, coffee shops and retail establishments, to fill the remaining four storefronts, according to city commission documents. Those new tenants haven’t yet been identified.

The developer estimates the four new storefronts created by the $277,000 rehabilitation will create 10 new full-time jobs, with average wages estimated around $10.33 an hour, according to city officials. The number of jobs and wages may differ from what is currently estimated depending on what businesses fill those storefronts.

The existing nail salon will retain four full-time jobs that currently have average wages of $10.15 per hour, city officials said. The project is expected to generate $4,310 in new property taxes each year, with $755 of that being new city property taxes.

The developer is applying for a 10-year tax break as part of the project which would abate about $33,070 in taxes over that period, with $7,550 of that being city taxes.

Prior to consideration of that tax break by the Grand Rapids City Commission, a public hearing will be held about it at the body’s 2 p.m. Feb. 6 meeting.

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