Bancroft & Eddy apartments launched in downtown Saginaw

The Bancroft and Eddy buildings in downtown Saginaw are off to a great start on their new lease on life courtesy of the MEDC and developers.

 

The two historic buildings at Washington and East Genesee avenues are being developed into luxury apartments by Bancroft Project Saginaw LLC, in conjunction with a recently announced Michigan Economic Development Corporation grant in the amount of $1 million. 

 

The developers themselves are putting another $6 million into the century-old buildings.

 

"This has been an incredibly rewarding process, which has allowed us to restore and reinvent two buildings in the heart of Saginaw that are more than 100 years old," says Carol Bodnar, attorney for Bancroft Project Saginaw LLC.  "The Eddy building is already filling up and the Bancroft is ready to go."

 

It was a cooperative effort among the city of Saginaw, the MEDC and developers, Saginaw Future and the Michigan State Housing Development Authority to rehabilitate the old buildings through tax benefits, grants and private investments.