Building 58: Offices, condos, underground parking transform former warehouse
New office space and premium condominiums are transforming a former warehouse at the Village at Grand Traverse Commons.
Construction is well underway at Building 58’s $10 million redo, adding 24 residential condominiums, dubbed The Lofts at 58, as well as two floors of Munson Medical Center office space and underground parking.
Begun in September 2017, the project will be completed in phases between late this year and early next.
“Building 58 is an important structure given its size and location near the center of our Village campus,” said partner and co-developer Raymond Minervini II. “Together with Building 58, we are also improving the parking lot, lighting, street and walkways in the vicinity. This is in keeping with our ‘one bite at a time’ approach to incremental development on the Commons.”
Located near the water tower at the corner of Red and Gray drives, Building 58 is the largest structure on The Village campus after Building 50. It originally served as a massive warehouse with coolers and kitchens during its tenure as part of the Traverse City State Hospital. Noted for its flat-roofed concrete cast construction, the structure was considered very modern when the north part was built in 1920. The south portion, which included 27 refrigerated coolers for food storage, was added in 1950.
Redevelopment will transform the 58,000 square-foot historic building into a 72,000 square-foot mixed-use project. Unlike the Victorian-era Italianate architectural styles of other Village spaces, the new project draws from Building 58’s heritage as an open-plan warehouse. It will feature a mid-century modern interior with open floor plans, clean lines and 10-foot-high windows and ceilings.
The most notable contrast to prior development is the addition of an underground parking garage with 36 private parking spaces and storage.
Munson Healthcare is slated to lease 17,400 square feet of office space on the north end. The facilities will house approximately 100-110 administrative employees and span two floors. A common lobby and elevator will be shared between the Munson offices and the Lofts at 58 residential areas.
This continues the pattern of mixed use The Village has championed for more than 15 years.
“From the beginning, The Village has been a champion of sustainable mixed-use redevelopment. We are taking a blighted historic building and bringing it back to life,” Minervini said. “With dozens of added residents and some 100 Munson employees, there will be a lot of new activity and energy in the neighborhood in the months ahead.”
The Lofts at 58 include 24 condominiums ranging in size from 622 to 1,847 square feet, stretching across three floors. The top floor, which will include nine-foot-deep private rooftop terraces for condo owners, is an addition to the original two-story structure. Massive windows showcase panoramic views of the Building 50 spires to the east or trees and park land to the west.
According to Realtor Marsha Minervini, interest in The Lofts at 58 has been strong from the start. More than half were already reserved before construction began, with 17 of 24 reserved to date. One-, two- and three-bedroom options are still available, including an 1,800 square-foot condo on the top floor with an 800 square-foot rooftop terrace. The remaining six units are on the middle floor with sizes ranging from 920-1,800 square feet. Price range for the remaining units is $275,000-$690,375.
The lofts are coming on the market at a brisk time.
“Both home and condo sales in Traverse City have been very strong and inventory is low,” Marsha Minervini said. “We are very pleased and optimistic when comparing the reservation process of the Lofts at 58 to the time when we were taking reservations for the different sections of Building 50.
“Many buyers love the idea of choosing their own finishes so the home reflects their style and personality,” she added, noting the quality and selection of cabinet styles, countertops and flooring the Lofts offer as well as many features unique to this property.
Work began on The Village in 2002. When Building 58 is completed, more than 66 percent of the existing historic structures will have been cleaned up, preserved and adapted for new uses, including 263 residential units as well as continually growing retail, dining and office spaces.
Raymond Minervini II said he is pleased with progress, while also noting the uniqueness of the historic building.
“Our crews have learned firsthand how massively overbuilt the residential part of the structure is,” he said. “Some floors have over 18 inches of reinforced concrete, which takes extra time to cut through for mechanical systems – but also makes for a very solid home. Despite some winter weather delays, work is on course for the first condominiums to occupy this fall. These will be remarkable residences in a unique setting. That’s why we say they are historic by nature and modern by design.”
Building 58 is being developed by Building 58 LLC, the building owner and an affiliated company of The Minervini Group.
For information about condominiums available at The Lofts at 58, contact Marsha Minervini at (231) 883-4500 or firstname.lastname@example.org.