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CNN – The downtown Huntington Bank edifice, the tallest building in Saginaw, has stood at Washington and E Genesee since 1925.

The downtown Huntington Bank edifice in Saginaw could exist renovated into apartments. | Credit: WNEM

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Developers want to turn the 170,000-square-foot building into a 120-unit apartment complex with commercial space.

Saginaw Metropolis Quango members voted Monday night to assistance brand that a reality.

They voted in favor of designating the site equally an obsolete property rehabilitation district. It would create tax benefits for a project that'southward expected to toll $45 one thousand thousand.

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Saginaw Future Vice President Tom Miller said this is a necessary step to make the transformation financially viable.

"It's key that we move all of these things together at the same time, then nosotros're pursuing OPRA [obsolete property rehabilitation act], Brownfield Incentives, as well equally incentives from the land," Miller said. "All of these things take to move in concert while the grouping Michigan Community Uppercase continues to pursue all of the financing necessary to complete the project."

Miller said the project would be more complicated and expensive than the transformations of the nearby Bancroft and Eddy buildings which cost about $eight one thousand thousand for the aforementioned number of units.

He said, if all goes as planned, the apartments would exist move-in set up by May 2025.

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