Grand Rapids Trust Building Will Become Boutique Hotel

The 1892 building at 40 Pearl Street NW will house a 63-room hotel starting in 2028.

Updated on Sept. 18, 2026 in Hotels

Grand Rapids Trust Building Will Become Boutique Hotel

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Developers CWD Real Estate Investment and Braveworks are set to convert 4.5 floors of the historic Trust Building in Grand Rapids into a 63-room boutique hotel. The project is expected to open its doors by the summer of 2028.

Why it matters

The transformation aims to create a lifestyle mixed-use asset for the building's tenants, as developers determined the layout was better suited for hospitality than residential apartments. The historic two-story vault on the premises will be repurposed into a speakeasy.

The project will occupy 4.5 floors of the 134-year-old building with average nightly room rates expected to hover in the $300s. Terra Bagels will remain on the first floor alongside other existing long-term office tenants.

The players

CWD Real Estate Investment

This is a real estate development firm responsible for managing and redeveloping various properties across the Grand Rapids area.

Braveworks

This organization is partnering on the redevelopment project to help bring the boutique hotel concept to the Trust Building.

The details

The developers are moving forward with plans to modernize the historic structure while maintaining its existing commercial identity. While the hotel project is underway, the site will continue to serve professional office tenants including Hylant, NPF Investment Advisors, and Verspoor Waalkes.

The Trust Building was originally constructed in 1892.
Construction on the hotel conversion is slated to begin in 2027.
The hotel developers aim to open for guests by summer 2028.

Travel Outlook

Adaptive reuse projects that convert historic office spaces into boutique hotels are becoming a staple of urban revitalization in mid-sized cities. This development mirrors a broader shift where aging commercial assets are repurposed to meet modern demand for mixed-use lifestyle hospitality.

Travelers planning visits to Grand Rapids after the summer of 2028 can expect nightly rates in the $300s for this boutique experience. The property remains fully operational for its current commercial tenants until construction begins in 2027.

The takeaway

This project demonstrates how property owners are successfully reimagining historic architecture to serve both business and leisure travelers. By blending modern hospitality with existing office space, developers are breathing new life into structures that might otherwise struggle with traditional vacancy.