GRAND RAPIDS - The Icon on Bond development is quickly coming out of the ground, transforming a brownfield site that hosted an old foundry into a residential development that is expected to add to the transformation of the Monroe North Business District.

The $55 million, nine-story residential tower will include 118 units. Work began in January on the all-union construction projectwhich is being managed by Wolverine Construction. So far, 37 units have been sold or reserved said Joe Moch, Jr. of project developer Moch International.

After breaking open an unmarked water main some 25 feet below grade and flooding the site for a day and a half earlier this year, Moch said the hole in the ground where the building is being erected has been "amazingly dry."

"Everything is coming along nicely," Moch said one day last month, stopping by the site. "The trades have been great for us."

When finished, the Icon on Bond will offer condos ranging in size from 728 square feet to 1,418 square feet. The development will feature outdoor balconies, views of the Grand River and the downtown skyline, nine-foot ceilings, and personal laundry. Development plans also call for a community room with a 12-seat movie theatre, as well as exercise, conference, and office space. Units will range in price from $186,000 to $420,000.

The development is located in a designated Renaissance Zone, which means residents receive a break from city and state income tax as well as property tax until 2012. The project is expected to be complete in June 2007.

PEERING OUT from his cab while working at the Icon on Bond project is Mike Mansfield of Operating Engineers Local 324.

A RENDERING of Icon on Bond condominiums.