GRAND RAPIDS - A former foundry is the site of the new Icon on Bond project, a nine-story, $55 million condominium development that's just coming out of the ground.

Funded in part with union pension money, the project is expected to be built with union labor. The footings are now being installed under the 118-unit development at Bond and Trowbridge streets.

The units at Icon on Bond will be built with open space floor plans, and residents will have access to a gymnasium, personal theatre and a covered, heated parking garage.

"This is a landmark project, but there's a lot going on in the area," said BA Buck Geno of Plumbers, Pipe Fitters and Service Trades Local 174.

The Grand Rapids Press estimated that the city is expected to see a number of developments take hold next year, to the tune of $450 million in construction in the downtown area alone.

Included are a $120 million medical office complex near Spectrum Health on Michigan Street and Spectrum's neighboring $78 million Lemmen-Holton Cancer Pavilion, Alticor Inc.'s new $100 million, 23-story Marriott hotel tower and conference center and the conversion of an old YMCA into condominiums ($13 million).

Gov. Jennifer Granholm, who has pushed to allow for brownfield tax credits to spur developments as part of her "Cool Cities" program, hailed the new projects.

"Bringing business and residents back downtown is vital to creating vibrant cities and good-paying jobs," Granholm said. "These developments will make Grand Rapids an even more inviting place to live, work, play and invest for a brighter future."

A RENDERING of the Icon on Bond project.