GRAND RAPIDS, MI — A state board approved a $4 million loan Tuesday to help finance the construction of a five-story, 171-unit apartment building at the corner of Leonard Street and Lafayette Avenue on Grand Rapids’ Northeast Side.

The project, whose price tag is estimated at $39.5 million, is being developed through a partnership between Sun Title and Pinnacle Construction.

James Lewis, director of real estate investment at Pinnacle Construction, told the Michigan Strategic Fund board that the project wouldn’t be possible without the $4 million Michigan Community Revitalization Program loan.

He said the support is needed because of the “challenging” condition of the vacant lot where the project would be built.

The lot, vacant since the 1960s, sits on the downward slope of a hill adjac

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