After more than a decade as a vacant lot, the former Hanchett site is slated to become a new senior living community.

Here are key basics to know about the project:

 

THE LOCATION

The new facility, which will assume the name "Ivy Terrace," will be built at 906 N. State St. in Big Rapids, situated between the Muskegon River and State Street near Swede Hill. The site was home to Hanchett Manufacturing for nearly 100 years. The company was founded in 1889 and now operates from a facility on 19 Mile Road, where it specializes in saw sharpening, filing and grinding equipment.

The roughly 4.4-acre property will host a 55+ independent senior living community with at least 64 apartment units. Planned amenities include a theater room, sauna, salon, pickleball court and bistro style gathering spaces. Both covered and uncovered parking will be available.

A proposed blueprint layout of the site plan for the new development (courtesy of DeShano Development Corporation).

 

THE UNITS

The development will feature one- and two-bedroom apartments with standard or premium views. Monthly rents are estimated at $2,000–$2,500 for one-bedroom units and $2,300–$2,900 for two bedroom units.

Unit amenities include private balconies, dishwashers, granite countertops, stainless steel appliances, and in-unit washers and dryers. Higher-priced units will offer east-facing views of the Muskegon River.

 

THE TIMELINE

Closing on the purchase agreement is expected by early 2027. The developer will then conduct approximately four months of inspections and environmental assessments before final site plan approval.

Construction is targeted to begin in 2027 or 2028. Phase 1, consisting of the first 32–36 units on the southern portion of the site, is expected to take about 16 months to complete. Phase 2, adding another 32 units on the northern side, would start once Phase 1 is fully leased and could extend into 2030 or later.

 

THE PARTNERS

DeShano Development Corporation of Gladwin is leading the project. The company previously built Big Rapids Fields assisted living and memory care facility. It also developed the 49-unit Ivy Terrace senior apartments in Midland and is working on another project there called The Reserve.

DeShano has agreed to pay the city $250,000 for the property if it secures an EGLE Brownfield Redevelopment Grant covering at least 85% of eligible costs. If the grant is not obtained, the purchase price drops to $100,000.

 

For more information on DeShano, visit here: https://www.deshanodevelopment.com/homepage.html.