COLDWATER, MI (WTVB) – A state grant has been approved for the renovation of the former Gillespie Funeral Home at 27 Marshall Street in Coldwater.
The Michigan Strategic Fund has approved a $750,000 Michigan Community Revitalization Program performance-based grant in support of the project.
In addition, the Downtown Development Authority has approved a $10,000 façade grant and a 12-year Obsolete Property Rehabilitation Act tax abatement with an estimated value of $149,195.
The property is currently owned by Southern Michigan Bank & Trust. They have plans to rehabilitate the former funeral home which was built in 1920 into seven new apartment units in downtown Coldwater.
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.
The structure is believed to be one of only two remaining buildings in Michigan designed by Spence.
It’s estimated the entire project to rehabilitate the building and improve the surrounding property will involve a total capital investment of over $1-point-8 million.
Southern Michigan Bank and Trust Chairman and Chief Executive Officer John Castle says, “We are pleased to partner with the MEDC, the City of Coldwater and the DDA to make this project a reality. Southern has proudly supported downtown Coldwater since our inception 150 years ago, and we are eager to continue this tradition as we rehabilitate the Gillespie building into much needed affordable housing.”
Coldwater City Manager Keith Baker states, “Renovating the Gillespie building will be another catalyst to our community’s downtown revitalization efforts. Eligibility for this funding source is based on the City’s participation in the RRC Program, which has involved the support of staff, City Council members, and our boards and commissions. This is an exciting project that we are eager to see come to fruition.”
Economic Development Coordinator and Main Street Director Audrey Tappenden says, “Southern’s project is an extraordinary example of commitment to community. Our staff have all worked closely with the SMBT team, the MEDC, and local boards and commissions to move this project forward through many hurdles. Preserving the Gillespie building and providing housing to the community will have a tremendous positive impact on the downtown.”
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