SHC helps Grand Rapids co-op

A Dream that Came True in Grand Rapids

A stately old home just a few minutes walk from downtown Grand Rapids became a leasing co-op in 2013, and seven years later, with the help of the Student Housing Cooperative, now owns its first house. While the front of the house was built by a banker in 1853, the bulding was converted to eleven apartments in the 1950s, and then The James Russell House, purchased in June by the Grand Rapids Alito twenty four bedrooms in eight suites iance of Cooperative Communities. The SHC guaranteed a loan and made a direct loan to make the purchase possible! in 2013.

The property was leased for several years before the Grand Rapids Alliance of Cooperative Communities was able to buy it this summer with the help of a loan guarangee and an additional direct loan from the SHC.

GRACC also leases three nearby houses, with a combined total of fifty members.

Wind Through the Pines