Jack DeBoer’s WaterWalk apartments will be delayed due to finance and design issues

Jack DeBoer’s new upscale Gateway Apartments at his WaterWalk development downtown won’t start construction late this month as planned.

DeBoer didn’t return calls to comment, but Jim Korroch, who is representing DeBoer on the project, said design and finance issues are causing the delay.

“It’s a big project, and it’s a tough time in the financial markets right now.”

Korroch said he has to be certain the apartments can get the rates the development needs.

“We’re confident we can do that.”

However, he said, “It’s a $40 million project, so there’s a lot of twists and turns to it, so just want to make sure it’s going down the right path.”

Korroch said he’s “just assessing everything right now.”

He said the holdup doesn’t have to do with complaints from residents of the WaterWalk condominiums about potential parking costs and concerns related to the apartments.

“Just continuing to work through some design issues with the project, but it has nothing to do with the . . . parking situation,” Korroch said.

He said his team has been working in good faith with the condominium owners.

“Honestly, that’s not my world. I’m working more on the apartment development side of things.”

Still, he said, “We want to make sure that everybody is happy and that it’s all going to work out well. If there are issues to work out, we’ll do that.”

The apartments are slated to be in two different areas — one within WaterWalk and one just outside of it.

The plan is for about 126 units at the southwest corner of Waterman and Main, where DeBoer once planned an office building. It’s also where a large statue now stands.

There are supposed to be another 100 units in a separate building at the northeast corner of Dewey and Main streets. That’s just east outside of the WaterWalk development. These units will be closer to Kellogg.

Original plans also called for studios, one- and two-bedroom apartments and one- and two-room lofts that will range from the low $900s to about $1,400. There will be a resort-style pool, a rooftop lounge, pet wash and fitness center among other amenities.

Korroch said he isn’t sure when apartment construction might begin.

“It’s a project that we still want to see happen, and we expect that it will. These things take time, especially in the COVID world.”

He said the pandemic is leading to “unsure footing” economically speaking.

In the end, Korroch said the project will be a vibrant one and another great addition to downtown.

“Downtown will be a success.”