SOUTHGATE, Mich. (WXYZ) — Southgate's Bank Tower — a landmark in the Downriver area for more than 50 years — has been reimagined into a 216-unit apartment complex following a nearly $50 million redevelopment project that city officials are calling the largest private investment in Southgate's history.
Watch Carli Petrus's video report:
The city and developers celebrated the official opening with a ribbon-cutting today.
Developer Alex Begin and his team began the project in 2023, transforming the 14-story building after it changed hands several times before sitting vacant for about a decade.
PREVIOUS STORY: Developer shares progress on former Southgate bank tower being converted to apartments
"It was a remarkable experience of cooperation and positive thinking that got us to this point," Begin said.
Begin said the goal was not only to preserve the building but to maintain its connection to the community. Original features, including the safe-deposit box and an aluminum ceiling in the lobby, were saved as part of the renovation. Artifacts from the building's history will also be put on display.
"What was remarkable about this building was its prominence," Begin said. "If people have such fond memories of the history of the building, we want to preserve that; that's why we saved the safe-deposit box, the aluminum ceiling here in the lobby. We've been collecting artifacts that will be put on display here."
For many Downriver residents, the building carries personal memories.
"Never imagined that it would be anything other than a bank," Joan Bogacz said. "I used to bring my mother here, and they had, right there was the drive-through."
Jon Woolum, the property manager for the Bank Tower Apartments, also has a personal connection to the building.
"You know, I grew up down the street from it. I opened my first bank account here when I was a kid, so it's pretty incredible to be standing here and to be able to say I'm going to be the property manager," Woolum said.
Southgate Mayor Joseph Kuspa echoed that sentiment.
"I used to work here when it was the bank, and to see this transformation is just kind of overwhelming," Kuspa said.
The project extends beyond the tower itself. Begin partnered with the city of Southgate and Wayne County on a new public park featuring a putting green, pickleball courts, and a walking path.
"The county paid for the construction of the park; we're going to pay for the maintenance of the park, but it provides an amenity that we would've never have been able to afford otherwise," Begin said.
The apartments are not yet leasing. Begin said the development is still awaiting a certificate of occupancy from the city. Those interested in touring the building or learning more about leasing can visit thebanktowerapts.com.
—————————————————————————————————
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
