"Building Grand Rapids: Project Update with 616 Development" September Breakfast, Thursday, 9:00am 9/8/16 @ Watermark Country Club
Join us at the September breakfast program to hear an update from Jeff Olsen, the Director of Development for 616. As Director of Development, Jeff oversees the entire construction process through the point of stabilization. Before the shovel hits the ground, he is working in the hind ground with city officials and associated neighborhoods, collaborating on design, zoning, and other project specific details. Jeff makes sure that the 616 noble purpose is carried out through the highest and best use of each and every one of their projects. We are excited to hear about 616 Developments progress and what new projects may be on the horizon.
HISTORY OF 616 DEVELOPMENT
Origins In 2007, Derek Coppess had a revelation when he was buying a shovel in one of Grand Rapids’ suburbs. He needed to dig a single hole in his backyard, and rather than borrow one from a neighbor, he went to the store. Because he didn’t know any of his neighbors. Why? Because the landscape around him didn’t allow him to interact with the people who lived next door. It occurred to Derek: living without community is no way to live. To have community, you have to live close to other people, and the best place to live close to other people is in a city’s urban center. Derek knew what he needed to do.
616 Lofts Launches Two years later, Derek Coppess refocused and evolved his Coppess Group investment company into a new, urban-centric brand: 616 Lofts, a residential-centric boutique development and property management firm with a vision for renewing downtown Grand Rapids’ underutilized spaces. First, 616 chose 139 Pearl Street, aka “the Rood Building”, a project which, after 12 months, yielded market rate apartments above the popular bar and restaurant, Flanagan’s Irish Pub. The upcycled one and two bedroom apartments fused historic features (high ceilings, exposed brick) with eye-catching modern amenities (granite countertops, stainless steel appliances, in-unit washer/dryer). Units were 100% preleased, and residents raved about the modern features, locale and community. 616 made its first iteration of a design cycle which the company would come to know well: do some things well, screw some things up and learn from mistakes that were made in the next project.
616 Development/616 Lofts Soon, 616 Development branched off as the development partner to 616 Lofts. 616 Lofts became the property management arm for 616 Development’s Grand Rapids properties. This allowed 616 Lofts to become a geocentric property management model which could be reiterated in new Lofts communities as 616 Development branches out into other cities. In this way, 616 was able to retain management over all the residential communities it creates – a practice which remains key to the 616 development model.
As we at 616 continue to pursue our mission to create community, we continue to invest in building critical mass in key urban areas. Our Tribe of talented, passionate individuals turns the flywheel more quickly each day as we share the thrill of watching revitalized communities grow.