HA
Condos
3
Posts
1
Members
HA
HA
Construction appears to be imminent at 356 Fulton Street, an upcoming mixed-use residenital skyscraper in Downtown Brooklyn. Developed in a joint venture between Rabsky Group and Spencer Equity, the structure is planned to yield nearly 200 condominium units, 299 rental apartments, and 20,000 square feet of commercial space. The $400 million development will rise from a site bounded by Fulton Street, Smith Street, and Red Hook Lane. It’s unclear if MdeAS Architects and SLCE Architects, the original designers, are still part of the project, which called for a 43-story, 496-foot tall, 475,000-square foot tower with 421 units of market-rate and affordable housing, and 100,000 square feet of commercial space.YIMBY’s last update in December 2022 showed the larger western end of the site completely leveled, while demolition of the corner structure at 380 Fulton Street had yet to be razed. Recent photographs show a large drilling machine and multiple excavators on site, a clear sign that work should commence very soon. The only two buildings that are not part of the multi-parcel assemblage are 372 and 376 Fulton Streets. The new skyscraper’s multistory base will wraparound the abutting holdouts.
https://newyorkyimby.com/2026/03/construction-equipment-on-site-at-356-fulton-street-in-downtown-brooklyn.html
HA
A planned $796 million development led by members of the DeVos and Van Andel families lays out a high‑end vision for downtown living, with million‑dollar condos and luxury apartments rising along the Grand River.
Whether the Grand Rapids housing market can support that vision is a question raised in an independent, state‑commissioned report.
July 2025 analysis by SB Friedman Development Advisors found “limited evidence” the Fulton & Market team can sell its 76 owner‑occupied condos at the projected pace of 19 units a year at an average price of $1.1 million.
The report also said a site‑specific market study hasn’t been conducted to evaluate demand for the project’s 595 apartments at their proposed rental rates. Those rents are projected to run 36% to 92% higher than today’s most expensive downtown units.
“The pace of condo sales anticipated by the development team is significantly more aggressive than what has been observed in the market recently,” according to the report, obtained by MLive/The Grand Rapids Press through a Freedom of Information Act request.
The Fulton & Market project is led by Fulmar Development Partners, a joint venture between members of the DeVos and Van Andel families and Chicago‑based Magellan Development Group. One of the biggest projects in the city’s history, it would replace a nearly 7‑acre parking lot next to Acrisure Amphitheater with luxury housing, a boutique hotel, retail, restaurants and an office tower.
SB Friedman’s analysis was required by the Michigan Strategic Fund for its review of the project’s request for public incentives under Michigan’s Transformational Brownfield program. The MSF approved the request in December 2025, allowing developers to use $560.9 million in future tax revenue generated by the project to help cover construction costs.