Uptown Reinvestment Corp - Non Profit Lofts on 1st Street

The grant will be used to restore the exterior of the Republic Bank Building, which will become First Street Lofts, a 16-unit loft development in downtown Flint.

Highlights:

• The first Cool Cities–supported project in Flint was the First Street Lofts, a large project that converted the regal Republic Bank Building (originally the First National Bank and Trust) into a 16-unit loft development that is now listed in the National Register of Historic Places. The restoration of the neoclassical building facade returned an important architectural jewel to the street.
• Completed in 2006, the units are handsomely appointed with modern amenities, and residents can walk to several cafés, the riverfront, and UM–Flint. The $7.8-million project was made possible by a multifaceted partnership and several state and federal funding sources. The project was featured on the cover of the Federal Tax Incentives for Rehabilitating Historic Buildings 2007 Annual Report, a document that is distributed nationally.
• Today, the beautifully restored building serves as the anchor of the quickly revitalizing strip of Saginaw Street, the heart of downtown Flint. The building now houses a diverse group of residents including young professionals, “empty nesters” who moved back from the surrounding suburbs, and graduate students who attend nearby UM–Flint or Kettering University. By attracting new residents to the area, the project has helped to support new restaurants and entertainment opportunities in the area. On a warm July afternoon, the sidewalk cafés are filled with businesspeople, residents of the Lofts and other new housing developments, and guests who drive in from the surrounding areas to enjoy the vibrant urban district.
• Resource Toolbox utilized
  • State and federal historic preservation tax credits (HAL/SHPO)
  • Historic designation (HAL/SHPO)
  • Low Income Tax Credits (MSHDA)
  • New Market Tax Credits (MSHDA/Treasury)
  • Streetscape improvements (MDOT)
• Rehab will start in fall 2009 on a downtown vacant building that will be Witherbee’s Market – an urban grocery store and deli.
• Flint reported in 2005:
  • The project is catalyst for further development and success. 
  • One of the secondary projects that the Uptown Reinvestment Corporation is working on will bring 120 new engineering jobs to downtown Flint, and 100 service-sector jobs.
  • There has been $10 million in private investment.
  • A building that was offered at $100,000 in 2003 sold for just under $300,000 in 2005.
  • New residential units and dormitories are being planned for downtown.
  • “Cool Cities has generated a lot of positive publicity and thought around our downtown – which far outweighs the $100,000 catalyst grant – thank you,” said Tim Herman, award designee.
  • Late in 2003, the Flint mayor asked that a Cool Cities Local Advisory Group (CCLAG) be formed under the guidelines outlined in a September 10, 2003, letter from Governor Granholm. About 50 individuals representing a large cross-section of the business and residential community, most from Flint's Central Business District, informally formed the group and selected co-chairs. The Flint Area Convention & Visitors Bureau provided staff support. Several meetings of the group were called that included staff from the City's community development office and leaders of the City's neighborhood groups. The meetings explored the various Resource Toolbox options, and a consultant was engaged to assist with evaluation of various catalyst projects and review of possible applications. Flint fielded the largest contingent of delegates, more than 80, at the first Cool Cities Conference. At the same time, the Granholm Challenge, which involved almost 2,000 citizens, was evolving into the Community Challenge, a program whose goals are to create a new way for the people of our region to design our future, resolve differences, solve problems, and act on the community's public agenda. Four critical outcomes were identified. One of these, critical outcome.#2 (C.O.#2), was a downtown (Flint) that is on its way to being a center of entertainment, arts and culture, education, commerce, government, religion, and residences for people of all ages. C.O.#2 met almost monthly. The CCLAG and C.O.#2 met together and over time were melded. C.O.#2 had more than 90 citizens on its mailing list with more than half of these meeting on an almost monthly basis. One of the submissions for a Cool Cities catalyst grant was by the Uptown Reinvestment Corporation for the First Street Lofts Project. This grant was approved, and work has been under way for more than a year. This has resulted in an extensive rebuilding of Flint's Central Business District that anticipates additional loft apartments and condominiums, space for more than 100 people for an engineering firm that is moving downtown, new restaurants and nightclubs, and office space for the Land Bank. Flint again sent the largest delegation to the second Cool Cities Conference, with almost 50 in attendance. The C.O.#2 continues to meet and work on projects including the restoration of Riverbank Park, the development of a town square, and the development of a communications network to make citizens from around the county aware of  'What's Up Downtown', inviting them to return to the Central Business District for their business and entertainment needs.
• Flint reported in 2006:
  • We have had What’s Up Downtown Tours every week during the summer for the last two summers. To date over 4,000 people have taken the tour. We have also produced a bi-monthly newsletter that highlights what’s going on downtown.
  • Genesee County Land Bank has joined the downtown in planning several reuse projects in the downtown area. Also, the Land Bank, in collaboration with Kettering University, just received a 2006 Cool Cities catalyst grant for the Flint River District. Project for Public Spaces has also been hired to explore the revitalization of River Bank Park and further the success of the Flint Farmer’s Market.
  • The project has spurred eight other projects totaling over 150,000 square feet of mixed-use space. The most notable for job creation is the Rowe Project, which comprises 80,000 square feet and will be the new headquarters for Rowe Engineering, bringing 120 high-paying jobs to the downtown. The lower level will house a new restaurant that will provide approximately 100 service-sector jobs.
  • A new coffeehouse opened.
  • We plan to have approximately 50 new loft residences in the area in the next year.
  • Businesses are now allowed to place tables on the sidewalks, and because of Cool Cities, Flint will have outdoor dining.
  • “The designation has generated loads of publicity and given hope to a lot of the citizens.”
  • Cool Cities inspired the national Red Ink Studios, a nonprofit art gallery and studio, to select Flint to rehab a vacant building for 30 artists, which attracted over 1,500 visitors in its first opening.
  • Additional growth downtown near the catalyst project:
    • Economy Shoes Building 
      • Converted into Brown Sugar Café, office for Sorensen Gross Construction, and live/work space for Kettering University
      • Café completed; served first cup of coffee 9/6/05
      • unding: Community Foundation of Greater Flint facade grant, conventional financing, Michigan Economic Development Corporation (MEDC) grant
      • Total project cost $535,000
    • Genesee County Land Bank Headquarters
      • Adaptive reuse of Hughes and Hatcher building for four-story headquarters of GCLB will contain retail, office, residential space
      • Completed 11/05
      • Total project cost approximately $5 million
    • Dale’s and Baker Building Project
      • Converting to accommodate a grocery store, law office, and two lofts
      • Funding through private equity investment and conventional financing
      • Uptown Developments used $125,000 of MEDC assistance money to acquire one of these two buildings
      • Total project cost $2.6 million
      • Project under way
    • University of Michigan–Flint Dormitories
      • To be located downtown; will house 450 students
      • Expected to increase university enrollment by 2,000 students
      • Total project cost $27 million
      • Completion expected 2007
    • The Flint Journal Processing Plant
      • Consolidation of all printing and distribution facilities into one state-of-the-art complex downtown
      • Total project budget $18 million
      • Completed
    • MEGA Coney Island
      • Converted vacant McDonald’s building
      • Rental income from project is being used for general operating support for Uptown Reinvestment Corporation for future projects