the Project stats
LEARN / WORK / PLAY
- Adaptive Re-Use
- Historic Tax Credits
the Project study
SVRC Marketplace is the transformative redevelopment of the former Saginaw News Building into a 100,000sf, mixed-use facility in Downtown Saginaw. Spence Brothers went above and beyond the duties of a construction manager, including project finance consulting, recruiting a key tenant, and becoming a tenant by moving its headquarters to the 3rd floor.
The building, which Spence Brothers originally constructed in 1960, has become a beacon of Saginaw’s urban revitalization. It is a perfect example of the company fulfilling its mission to build trust and important facilities with great people and organizations, driven to help each other and our communities thrive.
Throughout the preconstruction process, Spence Brothers developed customized estimates that attributed costs to each portion of this mixed-use building. This allowed SVRC to evaluate potential tenants, rents, and revenues within the financial model. This was a laborious process for Spence Brothers’ estimating team, but proved essential to making the project work on paper for granting agencies and banks financing the project.
Funded in part through federal historic tax credits, the project design underwent a thorough review for historic renovation. While much of the building retained its original architecture, a new entrance will be added to the southwest corner of the building. Spaces designated for use in the development include a new administrative Headquarters for SVRC’s staff, a children’s trauma assessment clinic, and offices for private businesses.
Tell me more!
Shane Willis, P.E.
Having the opportunity to manage a project which will bring new life to one of Spence Brothers’ historic builds is a tremendous opportunity. Knowing the SVRC Marketplace is an important extension of the rebirth of the downtown corridor in Saginaw, I look forward to working with our Project Partners to further strengthen our community’s resources.
We have a lot of experience with adaptive reuse of existing structures. Let me know if you have questions about this construction approach.”