GRAND RAPIDS, Mich. — The Three Towers Project in downtown Grand Rapids is one step closer to development.
During the city's Committee of the Whole meeting Tuesday morning, most of the city commissioners on the committee voted for the passing of incentives to start construction.
However, it's also brought some pushback from some in the city who believe the project doesn't do enough to address affordable housing.
On Tuesday morning, commissioners reviewed and gave initial approval to that financial incentive plan that would help turn the vacant property into an office building, residential tower, and a hotel and condo building. All but third ward commissioner Kelsey Perdue voted in favor of it.
Currently, the area is a parking lot where the old Charley's Crab restaurant used to be.
If the project were to go through, it would add over 671 housing units. It would also include an $8.5 million contribution to the city's affordable housing fund.
Many of those opposed to the plan say the towers don't do enough to address affordable housing in Grand Rapids. Those for it say it will be a financial benefit to the city.
"One is to increase the contribution to the Affordable Housing Fund in lieu of affordable housing being built on site, ensuring that a significant investment can be made to build affordable housing, much needed affordable housing throughout our city," said Kelsey Perdue giving off a list of areas she believes needs to be improved.
"You look at our income tax revenues from 10 years ago compared to what they are today, year over year, we've seen increases, and I believe it's because we historically have been willing to forego property tax or other types of taxes, knowing that we are an income tax based city," said Mayor Rosalynn Bliss.
Three Towers could also add around $2.1 million dollars in income tax to the city.
The incentive plan will voted on during the city's commission meeting Tuesday night at 7:00 p.m.