GRAND RAPIDS, Mich. (WOOD) — The transformational brownfield plan for a major three-building project planned for downtown Grand Rapids was approved Wednesday.

The project is planned for more than 6 acres along the Grand River at Fulton Street and Market Avenue, including the site of Charley’s Crab. The $800 million project includes three high-rise buildings.

The Grand Rapids Brownfield Redevelopment Authority approved the plan, which includes around $130 million in local property tax capture, a performance-based incentive.

According to planning documents, the massive project would include a 21-story office tower along US-131 that would be built on top of a parking podium. It would have around 916,000 square feet, with eight floors of parking and 13 floors of office space, which will be mostly occupied by one tenant. Construction on that building is expected to start in the fall of 2025, with the goal of completing it in the fall of 2027.

There would also be a residential tour with almost 600 apartments. The apartments would be aimed at those making around 150% of the area median income, with rates set between $2,643 and $3,928.

It would be 43 stories tall, making it the tallest building in downtown. Currently, the tallest is the River House at Bridgewater Place, according to Wolverine Building Group. That building is 34 stories tall.

It would be built on top of a second parking structure. The 27-story hotel and condo tower would also be built on the second parking structure, with 76 condos and 130 hotel rooms.

There would be just over 2,500 parking spaces between the two parking structures. Built alongside the parking podiums would be retail space, with a total of 37,800 square feet of retail space.

Crews are expected to start construction on both of those buildings in the summer of 2026, with a completion goal of the summer of 2029.

On Nov. 12, the Grand Rapids City Commission will hold a public hearing to consider approving the Transformational Brownfield Plan, along with an affordable housing agreement.

With contributions from renting out apartments and selling the condos, the development is expected to contribute about $8.5 million to Grand Rapids’ affordable housing fund over 20 years. Project organizers say that funding would be enough to support 85 affordable units.

In February 2025, project organizers hope to go before the Michigan Strategic Fund Board to request state incentives.

— Correction: A previous version of this article misstated the local property tax capture amount. We regret the error, which has been fixed.