Krimson Property Management
Krimson Property Management – New owner seeks more affordable housing units after buying 234 Market for $50 million BY Kate Carlson Wednesday, December 1, 2021 2:02 pm
GRAND RAPIDS — A mixed-use building with 235 market-rate apartments in downtown Grand Rapids recently sold for more than $50.7 million, with the buyer hoping to make at least a dozen units more affordable.
Krimson Property Management
Grand Rapids-based property management company Eenhoorn LLC bought the mixed-use building at 234 Market Ave. SW on Sept. 30 to East Lansing-based Krimson LLC, formerly Maplegrove Property Management LLC.
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According to the 234 Market Apartment website, there are currently only a few apartments available in the building. The building also includes shared amenities such as a patio, gym, garage and ground floor retail space. Maplegrove Property Management broke ground on the $56.5 million project in 2016 and received $10.9 million in Michigan Strategic Fund incentives at the time.
Eenhoorn is working closely with the city of Grand Rapids and Housing Next Executive Director Ryan Kilpatrick on a program to voluntarily reserve up to 20 percent of the building’s units for tenants earning between 80 and 90 percent of area median income.
“The 234 Market project presented a unique opportunity to materialize our passion and commitment to help address the housing issues facing Grand Rapids,” Eenhoorn co-founder Paulus Heule said via email. “Our experience is that many of the earners in the 80-90 percent (area median income) are in the middle — they’re priced out of high-quality, conveniently located units because they don’t qualify for a home of low-income. projects, however, these people still cannot afford, or justify, full market-rate apartments. We hope to address this gap with our acquisition of 234 Market.”
Heule said the goal is to complete the program by the end of the year. Krimson sells other properties
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The 234 Market site is one of several properties Krimson has sold in recent months. The property management company sold several of its Grand Rapids parcels on Sept. 28 for $11.8 million. The properties located at Prospect, Lafayette, Ransom and Jefferson avenues, as well as Fountain Street, were sold to Flushing-based Charger Properties LLC, doing business as Heritage Collection Grand Rapids LLC, according to property records.
Charger Properties also acquired Hopson Flats, a 42-unit mixed-use apartment building, from Krimson in January 2020. Located at 212 Grandville Ave. SW, Hopson Flats sold for $8 million. An affiliate of Maplegrove Property previously purchased the building in 2015 for nearly $9.4 million. Thank you for visiting the online and mobile resources published by Krimson Square, LLC. Our privacy statement, on the pages that follow, tells you about the types of personal information we collect, how we use it, who we share it with and why, and what we do to try to protect it. We delve into these topics in considerable detail in the following pages. We encourage you to read them carefully. In the meantime, we’ve got a quick overview below.
We use non-personal information to administer our online and mobile resources, improve them, and make business decisions about which programs our customers might like.
We use voluntarily provided personal information to respond to your inquiries and provide you with the services you have requested, among other uses as described below. We do not sell or rent your personal information to third party data providers or marketing companies. As you would expect, we will disclose your information when required by law.
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We share personal information when it is necessary to comply with our legal obligations and when our suppliers and business partners need it to comply with the contracts we have with them. We do not sell or rent any personal information to third party data brokers or marketing companies.
You do not need to provide personal information to enjoy most features of our online and mobile resources. In addition, you can opt out of certain activities, such as newsletters and advertisements. California residents and data subjects whose personal information was obtained while in GDPR jurisdictions have certain additional rights.
Questions about this featured page or our online privacy statement can be sent to Krimson Square, LLC, ATTN: Legal Department, 2140 Derry Street, Harrisburg, Pennsylvania 17104 or legal@
The English version of this privacy statement is the controlling version, regardless of any translation you attempt.
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Krimson Square, LLC (“Krimson Square,” “we,” “us,” or “our”) welcomes your visit to the online and mobile resources we publish. We use the words “you” and “your” to mean you, the reader, and other visitors to our online and mobile resources who, in all cases, are over 13 years of age. Our privacy statement (“this statement,” “this privacy statement” and “our statement”) tells you who and what types of personal information we collect, how we use it, with whom we share it and why , and what we do to try to protect it.
Online and Mobile Resources means the websites and other Internet features we have that allow you to interact with our websites, as well as the applications we have created and distributed to enable our customers and supporters to view our online resources and mobiles or otherwise interact with the content we offer. .
We may collect personal information from the following groups of stakeholders: visitors and users of our online and mobile resources; our customers; current members of our workforce and those applying for posted jobs; and third party vendors and business partners.
Generally, personal information means information that can be used to identify you or that can be easily linked to you (for example, your name, address, telephone number, email address, social security number and date of birth) . The privacy laws of some jurisdictions include unique elements in what they consider to be the personal information of consumers or data subjects they protect. If such laws apply to us, such as the California Consumer Privacy Act (“CCPA”) or the European General Data Protection Regulation (“GDPR”), our use of the phrase “information personal” includes the unique elements required by such laws.
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The categories of information we collect from each of these groups and the ways in which we use it are different. As you may have noticed, it is possible that the same person can be part of more than one group. The bulk of this statement addresses our processing and sharing of personal information collected from visitors and users of our online and mobile resources and our customers.
However, we do collect and retain the types of personal professional or employment-related information that you would expect an employer to have about its current and former workforce and new job applicants. We provide legally required collection notices and describe our use and sharing of our workforce and applicant personal information in more detail in confidential internal HR manuals and documents accessible to members of our workforce, or by posting to the owner template/applicant. portals and applications we operate. In some cases, these portals and applications may be operated by third parties who transfer personal information to us. In these situations, the legal responsibility to notify normally rests with the third party, not with us.
In addition, like all corporate businesses, we purchase goods and services, rent equipment and office space, and attend industry events. In doing so, we interact with many existing and potential suppliers and business partners from whom we necessarily collect certain personal information in connection with our contractual and business relationships. As with our customers, this information is usually limited to minimal business contact information. We use and share personal information collected from our suppliers and business partners to manage, administer and perform under our contracts with them, or share information about our products. We describe our use of personal information from suppliers and business partners in more detail in our confidentiality contracts with these parties or in the internal supplier management portals we operate.
There are two types of information that we collect from you online and then store and use: (i) non-personal information that is automatically collected from each visitor, such as your device’s operating system; and (ii) personal information that you voluntarily provide to us or that is collected automatically.
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By using our online and mobile resources or purchasing our products or services, you are indicating to us that you agree to this section of our privacy statement and that we may use and disclose your information as described.
If you engage in certain activities through our online and mobile resources, you may be asked to provide us with information about yourself. The types of personal information we collect in these situations include identifiers (such as your name, email address, physical address, and phone number), professional information (such as the company you work for), and financial account information (such as your credit card information). ). We do not sell, rent or trade voluntarily submitted personal information with third parties.
If you do not want us to collect this type of personal information, please do not provide it. This means that you should not participate in activities on our online and mobile resources that request or require you to do so.
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