GRAND HAVEN — The Hideaway at the Lakeshore Apartments in Grand Haven Township is moving toward completion with a new owner and new financing.
Construction on the 190-apartment HUD foreclosure skidded to a stop earlier this year after the original developer, Grand Haven Hideaway LP, was not able to meet township-mandated design changes.
The new owners, Star Heaven LLC, will complete the $12.5 million project through a $5.5 million loan from Kennedy Funding, a direct private lender based in Hackensack, N.J.
The 258,000-square-foot project is located less than a mile from the Lake Michigan coast, and will feature apartments in 19 buildings of ten units each, plus a 4,400-square-foot clubhouse. Unlike the original developers, the new owners will sell the apartments as condominiums, not as rental units.
Infrastructure is in place, with the buildings now in various states of completion.
CD Barnes Associates Inc. remains the contractor on the project, designed by AWA Architects.