Gillespie building wins state grant for apartment project

Southern Michigan Bank and Trust can now turn the former Gillespie’s Funeral Home into apartments at 27 Marshall St.

Michigan Gov. Gretchen Whitmer joined the Michigan Economic Development Corporation to announce revitalization projects that will bring much-needed housing, economic growth and increased vibrancy to five neighborhoods around Michigan through support from the Michigan Strategic Fund.

Earlier report: Southern Michigan Bank announces plans to turn former funeral home into housing

The 27 Marshall Street, LLC will rehabilitate the vacant, historical and functionally-obsolete Gillespie building into seven new apartments on Four Corners Park.

The Historic District board in 2016 refused in a 3-2 vote to allow demolition because of its historical character, so the bank found a new use for the surplus building it had purchased near its West Chicago Street offices.

Originally built as a funeral home in 1920, the building was designed by Robert C. Spencer, Jr., a colleague of Frank Lloyd Wright, and a prominent figure in the Prairie School design movement. It is believed to be one of only two remaining buildings in Michigan designed by Spencer.

When completed, the project will provide workforce housing with rental rates expected to be accessible for households between 80 and 120 percent of the median income of the Branch County area.

In addition to providing needed housing, the project will improve the surrounding property to provide parking and enhanced outdoor space for tenants.

The project will see a total capital investment of $1.8 million, supported by a $750,000 Michigan Community Revitalization Program performance-based grant.

It will not only renovate an important historic building in the heart of downtown Coldwater, but it will also help support local businesses and drive additional economic activity in the area.

The Coldwater Downtown Development Authority supports the project with a $10,000 façade grant. The city has approved a 12-year Obsolete Property Rehabilitation Act tax abatement valued at $149,195.

The project received support because Coldwater is engaged with MEDC’s Redevelopment Ready Communities program and is a participating Michigan Main Street community at the Select Level.

Coldwater Economic Development Coordinator and Main Street Director Audrey Tappenden said, “This project is an extraordinary example of commitment to the community. Our staff has all worked closely with the developer, the MEDC, and local boards and commissions to move this project forward through many hurdles.

“Preserving the former Gillespie building and providing housing to the community will have a tremendous positive impact on the downtown," she said.

This article originally appeared on The Daily Reporter: Gillespie building wins state grant for apartment project