GRAND RAPIDS, MI – Watermark Residential, a wholly owned subsidiary of Thompson Thrift and one of the country's leading multi-family developers, announced the purchase of approximately 24 acres in Grand Rapids, where the company will develop The Grove by Watermark, the newest Class A Luxury community in the Midwest and first in Michigan. The expected completion date is August 2022.
The Grove by Watermark is located at 3590 Beltline Avenue NE, just northeast of I-96, Michigan's largest east-west thoroughfare that connects Grand Rapids, Lansing and Detroit. With its location on Beltline Avenue, a major north / south junction, the convenient location offers residents a short drive to downtown Grand Rapids, where they can enjoy local museums, the John Ball Zoo and a variety of breweries and restaurants . A large majority of the region's top employers, including Axios, the headquarters of the Midwest supercenter chain, Meijer, and Spectrum Health, the largest employer in West Michigan with 31,000 employees, are within 15 miles.
"The Grove by Watermark is located near the affluent Forest Hills community and in one of the best school districts in the state. Despite high demand, The Grove by Watermark is the only multi-family community planned or under construction within 10 miles," said Brian Southworth, senior vice president of development for Watermark Residential. "The fact that we have been able to secure such a great location for this development that we expect to exceed the high standards of the area and help meet the community's rental needs is testament to that entire Watermark team. "
The Grove by Watermark will include 320 one, two and three bedroom condominiums, averaging nearly 1,200 square feet. As with all luxury watermark communities, utmost care has been taken to create a superior residential experience. Each unit features premium Class A interiors, such as 9-foot ceilings with designer lighting, smooth glass stovetops and stainless steel appliances, gourmet bar kitchens with granite countertops, walk-in closets, garden tubs, and full-size washers and dryers. Some units will also include an attached garage.
The resort-style communal facilities consist of a professionally furnished clubhouse, a 24-hour fitness center with state-of-the-art equipment, a swimming pool with cabanas and fire pits, pickle ball courts, and a pet-friendly Bark Park and Doggie Spa. In addition, every resident has consistent access to a dedicated management team dedicated to providing the highest level of service.
The MSA Grand Rapids-Wyoming is the fastest growing region in the state with a population of more than 1 million. Grand Rapids itself is expected to grow 4.5 percent over the next five years. Employment growth in the region has averaged over 2.3 percent per year over the past 10 years. BestPlaces.net predicts employment growth of almost 36 percent for the next decade. In addition, Grand Rapids is consistently high on the US news viability chart, having been named "Michigan Best Place to Live" and one of the top 15 places to live in the country. Some other awards for Grand Rapids include:
- # 1 "Fastest Growing Economy in the US" as rated by Forbes.
- # 1 "Places Millennials Flock to" in the US, as rated by Business Insider.
- "Best Michigan Destination 2020," rated by Travel Pulse.
Josh Purvis, Managing Partner of Watermark added, "As with all of our developments, The Grove by Watermark meets our stringent selection criteria, including easy access to major thoroughfares and proximity to major employers and high-quality retail experiences. With a strong regional experience in demand and limited supply of Class A apartment buildings, we look forward to bringing the watermarking experience to Grand Rapids. "