Thompson Thrift to develop 320-unit multifamily community in Michigan, US
September 07, 2020 – US-based real estate developer Thompson Thrift announced that its subsidiary Watermark Residential had acquired nearly 24 acres of land in Grand Rapids, Michigan, where it plans to develop The Grove by Watermark, a 320-unit apartment community.
To be located at 3590 Beltline Avenue NE, the new luxury apartment community is expected to be completed in August 2022.
The Grove by Watermark will include one-, two- and three-bedroom apartment homes, with an average space of 1,200ft².
Each home is expected to feature premium interior finishes such as 9ft ceilings with designer light fixtures, smooth glass cooktop stoves and stainless steel appliances, gourmet bar-kitchens with granite countertops, walk-in closets, garden tubs and full-size washers and dryers. Some units could also include attached garages.
Planned to be a resort-style community, it will include amenities such as clubhouse, a 24-hour fitness centre with state-of-the-art equipment, a swimming pool with cabanas and fire pits, pickle-ball courts, along with a pet-friendly park and a spa for pets.
The Grove by Watermark site is also claimed to be located northeast of I-96, Michigan’s major east-west thoroughfare, connecting Grand Rapids, Lansing and Detroit.
The place also falls under a 15-mile radius where major employers such as Axios, the headquarters of Meijer and Spectrum Health are located, making it a convenient location for employees.
The site’s frontage is on Beltline Avenue, offering residents a short trip to downtown Grand Rapids, where they can enjoy at local breweries and restaurants along with local museums, the John Ball Zoo.
Watermark Residential development senior vice president Brian Southworth said: “Located near the affluent Forest Hills community, and within one of the best school districts in the state, The Grove by Watermark has the distinction of being the only proposed or under construction multifamily community within a 10-mile radius, despite the strong demand.
“The fact that we were able to secure such a great site for this development which we expect will exceed the region’s high standards and help to serve the rental needs of the community is a testament to the entire Watermark team.”