A new $28 million building that will add upscale residences and office space to downtown Holland is expected to be completed by spring.
It’s one sign that downtown Holland is in the midst of a construction boom, says Holland Mayor Nathan Bocks.
“Coming out of a year of uncertainty, new projects like the Towers on River speak well of Holland’s development opportunities,” says Bocks, noting the project will help expansion to the north side of downtown.
The five-story, 123,375 square-foot project is expected to transform the entire block between Sixth and Seventh streets.
Commercial space in high demand
Demand is especially high for the building’s commercial space. United Bank of Michigan has selected the Towers on River to be its new Lakeshore Regional Headquarters and the bank’s 15th branch.
Towers on River will be home to United Bank of Michigan’s new Lakeshore Regional Headquarters.
The Grand Rapids-based bank purchased the entire ground-level commercial space of the Towers on River for a branch and also acquired about 60% of office space on the second floor for Lakeshore business offices.
The commercial and residential project at 159 S. River Ave. is being developed by Towers on River LLC, and Geerlings Development Co. Midwest Construction Group of Zeeland is the construction manager on the job. Integrated Architects of Grand Rapids designed the project.
The development replaces the youth center operated by the Holland Rescue Mission, located across the street. The two-story, 13,000-square-foot brick building with a gymnasium at the corner of Seventh Street and River Avenue was demolished earlier this year to make way for Towers on River.
A natural move
United Bank of Michigan President and CEO Joe Manica says the decision to locate in Holland was a natural one as many of the bank’s business, commercial and general banking customers live or have operations on the Lakeshore.
“This will bring convenience to those customers, as well as the many area businesses and residents that value working with a local bank with roots in West Michigan,” says Manica.
The United Bank Lakeshore Regional Headquarters will offer business lending, treasury management, business services and be a mortgage office for homebuyers and new
construction lending. Total employment will be around 20 people, including the bank branch.
With the purchase by United Bank, “we only have 8,500 square feet of commercial space on the second level still available for sale or lease with indoor secure parking for workers,” says Scott Geerlings, president of Geerlings Development Co. and partner in Towers on River LLC.
Residential sales of condominium units in the nine towers of the building are brisk, according to Andrew Boehm, with Five Star Lakeshore Realty.
“We already have six of the 27 residential units sold, including two 2,500-square-foot condos on the top floor of one of the towers,” says Boehm.
The unique nine-tower design of the building provides for three upscale condominiums per tower, ranging in size from 1,050 to 2,500 square feet of living space. Residential units are priced from $550,000 to $1.3 million.
“Because of the tower design, each unit has three outside walls with windows and courtyards or patios that overlook the city,” says Boehm.
There will be secure parking for the residents, and each unit will have two elevators and a stairwell for access to the floors.
“The third floor of the Towers will have a green roof with a courtyard for residents. The building has been designed to have a big-city feel in the heart of downtown Holland,” Geerlings says.