HOLLAND, MI (WHTC) – An affordable housing development in Holland called Centennial Park Apartments is closer to becoming an reality.
Holland City Council completed the first reading of an ordinance Wednesday evening. The ordinance is to allow a payment in lieu of taxes of 4 percent the annual rent.
The apartments would be a 54 unit building located at 254 River Avenue and the General Capital Group would demolish the Reliable Sports Building.
General Capital One told council that the apartments are not low income, but rather affordable housing. The target audience is people who work downtown and they would not market towards family-orientated clientele. The development would not be available to college students and tenants would not be able to sublease units.
Council will have a final reading of the ordinance on March 1.
