01/14/2026
Day by day, one of the largest historic preservation projects in recent memory in Pontiac moves closer to completion.
During a tour of the former Pontiac State Bank Building/Oakland Towne Center at 28 N. Saginaw St, the team behind Southfield-based Blackacre Management said the 185-foot tower downtown is expected to start taking residents in some of its 110 rental units next month or so, with a full certificate of occupancy hoped for in March.
The $14.5 million redevelopment has been in the works for years and the end product will also include an event space called The Reserve on the main level, plus a coffee and pastry shop and bodega space in the north and south retail suites, respectively, and a smaller 75-person event space on the third floor.
Blackacre bought the former bank building in 2021 along with investors, and has been working on its conversion into a multifamily housing space for years.
For all the talk over the years about injecting life into long-struggling central business districts like Pontiac, this project is one of the more consequential in recent memory, defibrillating a building that, only sparsely occupied, was basically on life support.
Read more here: https://www.crainsdetroit.com/real-estate-insider/rehab-pontiac-state-bank-building-nears-completion?utm_source=facebook&utm_medium=soc-own