SOUTHGATE, Mich. (WXYZ) — The tallest building Downriver is undergoing a major makeover. Monday, the project's developer gave 7 News Detroit an inside look at the progress.
Standing 14 stories high, many have memories inside the tower at the intersection of Trenton Road and Cambridge Avenue in Southgate, which was first home to Security Bank and Trust Co. when it opened in 1973.
"I was in installment loans on the 5th floor, and it really was the area Downriver," said Mayor Joseph Kuspa, City of Southgate.
Over the years, the building switched hands before becoming vacant about a decade ago. The tower eventually caught the eye of developer Alex Begin.
"I noticed that it looked like it was in derelict condition, which made no sense to me because Southgate is such a wonderful suburb," said Begin, a partner with Gordon-Begin Properties. "I found out that it was owned by a fellow in Argentina who never visited the building and there was really no plan for it."
After his family business successfully transformed an office property into apartments in Madison Heights, Begin decided to bring a similar project Downriver.
"We thought if we did it there, we can do it here," Begin said.
In 2023, work began to convert the old banking building in Southgate into 216 market-rate apartments from studios to two-story penthouses. The building is now known as "The Bank Tower".
"There's no luxury apartments, there's no low-income apartments, it's really just meant to be the proper kind of apartments for the demographics of the Southgate area," Begin said.
While giving 7 News Detroit a tour on Monday, Begin showed some of the apartments that already have cabinets placed inside. He also added that some of the building's history will also remain intact.
"The bank lobby on the ground floor will be turned into a grand reception area, the safety deposit box vault in the basement into a social room," Begin said.
In addition to renovating the building, Gordon-Gegin Properties is partnering with the City of Southgate and Wayne County to build a public park on a portion of the property, with a bridge over Trenton Road connecting it to nearby Kiwanis Park.
"We want the building and the property to be an asset for the City of Southgate," Begin said.
Mayor Kuspa said the 43 million dollar project is the largest private investment in Southgate's history and calls it transformational.
"Not only for Southgate but for the entire Downriver. We're already seeing some additional interest in some of the properties on Fort Street, which is adjacent to this property," Kuspa said.
Some Downriver residents say they're happy to know that the vacant building won't remain that way much longer.
"It's not just being a waste of space. I'm sure that building needed some work, but now it's going to work for multiple people," said Barb Tucker, who lives Downriver.
Construction on the building is expected to be completed in August. Begin said people will be moved in floor by floor when the building is completed.
