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City of Benton Harbor Approves Redevelopment by Cressy Commercial Real Estate

HomeAbout UsNewsCity of Benton Harbor Approves Redevelopment by Cressy Commercial Real Estate
HomeAbout UsNewsCity of Benton Harbor Approves Redevelopment by Cressy Commercial Real Estate

The Benton Harbor City Commission approved a $3 million redevelopment project of the iconic Harbor Center building located at the intersection of Pipestone and Main Streets in downtown Benton Harbor. The historic renovation will be completed by Cressy Commercial Real Estate and was initiated by Cornerstone Alliance.

Cressy Commercial Real Estate presented the project to the Benton Harbor City Commission on Monday evening. Cressy’s vision for the site includes approximately a dozen new apartments and more than 2,000 square feet of prime commercial space.

“I commend the City of Benton Harbor and the State of Michigan for making this project possible,” said Greg Vaughn, Chief Operating Officer and Vice President of Business Development at Cornerstone Alliance. “Without support from both groups, this building would have been demolished. The redevelopment will bring more than a dozen new apartments online and generate new demand for businesses located in Benton Harbor and the Arts District.”

The Benton Harbor City Commission approved a 12-year Obsolete Property Rehabilitation Act (OPRA) exemption which provides continual property tax revenue for the City of Benton Harbor for the next 12 years.

The building, located at 126 Pipestone Street, was built in 1882 and originally referred to as the Gray Building. It underwent a facelift in 1961 and has since been referred to as the Harbor Center Building. Following final approvals, construction could begin in April, with residency as early as Spring 2020.