Mno-Bmadsen, the non-gaming investment arm of the Pokagon Band of Potawatomi Indians, has acquired an ownership position in Cressy Commercial Real Estate’s City Center Lofts mixed-use development in Benton Harbor, Michigan.
Located on the corner of Main Street and Pipestone Street in downtown Benton Harbor, City Center Lofts is a two-story, 20,000-square-foot mixed-use building constructed in the 1880s. The structure was on the verge of demolition before a partnership formed between the Michigan Economic Development Corporation, the City Council of Benton Harbor, Cornerstone Alliance and Cressy Commercial Real Estate resulted in a $4 million investment and complete rehabilitation of its structure and purpose.
The project was completed in July of 2021 and underwent interior renovations as well as a restoration of the 19th-century façade. It now features two commercial spaces and 16 neo-industrial-style lofts that range from studio apartments to a two-bedroom with an office.
“We are thrilled that our continued partnership with Mno-Bmadsen has resulted in the renovation of this critical community asset,” said Chris Fielding, chief executive officer of Cressy Commercial Real Estate. “We believe that it will prove catalytic for the redevelopment of other assets within our local communities.”
All 16 of the apartments are fully occupied. One commercial space remains for lease
