616 DEVELOPMENT

the history of 616 development

development portfolio of derek coppess

Founded by entrepreneur Derek Coppess, 616 Development created a residential/mixed-use portfolio of over $100,000,000 in Grand Rapids, Michigan between 2009-2017.

 

What is 616 Development, and who is Derek Coppess?

616 Development was an urban real estate development firm founded by Derek Coppess which operated in Grand Rapids, Michigan between 2009 and 2017. The firm specialized in upcycling underutilized spaces into places where people can work, play and live. During its tenure, 616 Development successfully completed and fully leased seven mixed use, market rate development projects in the downtown area ranging from $3,000,000 to $30,000,000. Under Derek’s leadership, these projects brought 316 units of market rate residential housing, 16 retail spaces for new local businesses, and created a total value of over $100,000,000. Six of these developments rehabilitated decaying or underutilized historic buildings, revitalizing neighborhoods while preserving their historic value. Grand Rapids Business Journal named 616 Development as 2013’s Newsmaker of the Year, and included Derek in its 2013 & 2015 class of 40 Under 40.

Today, all seven of the projects remain 98%+ occupied, profitable, and retail tenants continue to thrive within their local resident communities.

In 2017 this portfolio of projects rebranded from 616 Lofts to Lofts of GR, and 616 Development as an entity dissolved as Derek turned his attention towards making his development model scalable for other first generation entrepreneurs in other middle American cities.


Information about Derek’s latest projects can be found here.

 
 

820 Monroe Ave

87 residential units

150 parking spaces

7 retail tenants/list of tenants

 

420 Alabama

100 residential units

130 parking spaces

100% residential property

 

1 Ionia Ave

25 residential units

0 parking spaces

3 retail tenants/list of tenants

 

16 Monroe Center Ave

#residential units

0 parking spaces

#retail tenants/list of tenants

 

740 Michigan St NE

54 residential units

89 parking spaces (underground)

4 retail tenants/list of tenants

 

Lofts on Pearl

139 Pearl St NW

15 residential units

0 parking spaces

#retail tenants/list of tenants

 

253 Prospect

22 residential units

29 parking spaces

100% residential property

 

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