United Bank of Michigan has selected the Towers on River building—now under construction in downtown Holland—to be its new Lakeshore Regional Headquarters and the bank’s 15th branch.
The Grand Rapids-based United Bank of Michigan has purchased the entire ground level commercial space of the Towers on River for a United Bank branch and also acquired approximately 60 percent of office space on the second floor for Lakeshore business offices.
The $28-million, five-story commercial and residential project at 159 South River Ave. is being developed by Towers on River LLC and Geerlings Development Co. Midwest Construction Group of Zeeland is the Project Construction Manager.
United Bank of Michigan President and CEO Joe Manica said the decision to locate in Holland was a natural one as many of the bank’s business, commercial and general banking customers live or have operations on the Lakeshore.
“This will bring convenience to those customers, as well as the many area businesses and residents that value working with a local bank with roots in West Michigan,” Manica said.
The United Bank Lakeshore Regional Headquarters will offer business lending, treasury management, business services and be a mortgage office for homebuyers and new construction lending. Total employment will be around 20 people including the bank branch.
Scott Geerlings—President of Geerlings Development Co. and partner in Towers on River LLC—said with the purchase by United Bank, we only have 8,500-square-feet of commercial on the second level still available for sale or lease with indoor security parking for workers.”
Andrew Boehm, with Five Star Lakeshore Realty said residential sales of condominium units in the nine towers of the building are brisk.
“We already have six of the 27 residential units sold including two 2,500-square-foot condos on the top floor of one of the towers,” said Boehm. Building construction is expected to be completed by spring of 2022.
The unique nine-tower design of the building provides for three upscale condominiums per tower ranging in size from 1,050-to 2,500-square-feet of living space. Residential units are priced from $550,000 to $1.3 million.
“Because of the tower design, each unit has three outside walls with windows and courtyards or patios that overlook the city,” said Boehm.
There will be secure parking for the residents and each unit will have two elevators and a stairwell for access to the floors.
“The third floor of the Towers will have a green roof with a courtyard for residents. The building has been designed to have a big city feel in the heart of downtown Holland,” Geerlings said.
Holland Mayor Nathan Bocks said the city is in the midst of a downtown construction boom.
“Coming out of a year of uncertainty, new projects like the Towers on River speak well of Holland’s development opportunities,” said Bocks, noting the project is a great addition to the city and will help expansion to the north side of downtown.
Integrated Architects of Grand Rapids designed the Towers on River project.
Information on United Bank is available at http://unitedbank4u.com.