KALAMAZOO, MI (WKZO AM/FM) — A mixed-use apartment and office building in downtown Kalamazoo that opened in 2019 is set to add new apartments to its floorplan. The Exchange, at the corner of West Michigan Avenue and South Rose Street, is amending it’s initial plan to add 21 new residential units.
According to the Michigan Economic Development Corporation, the plan calls for the modification and conversion of more than 25,000 square feet of vacant commercial space on the seventh floor to for residential use. As of December, 130 of the planned 131 residential units had been leased, leaving 60% of the building’s commercial space unused, to include the vacant space on the seventh floor.
Officials say aside from the seventh-floor build out, the project is considered complete, with floor one consisting of retail and parking; floor two also consisting of retail, office space and parking with floors three through six to be used for parking. So far, floors eight through 14 are apartment floors with floor 15 utilized as a mixed-use floor with office space and other amenities.
The Michigan Strategic Fund Board approved a $6.4 million economic assistance loan participation award to The Exchange Building, LLC, in December of 2016 for the purpose of redeveloping the property into a 15-story, mixed-use building with 131 market rate residential units, along with an integrated parking ramp for approximately 319 spaces and approximately 58,720 square feet of commercial space.
More information about The Kalamazoo Exchange is available here https://www.kalamazooexchange.com/
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