Purchased by the Uptown Reinvestment Corporation in 2009 and subsequently renovated with the help of $27 million in repayable grants made by the foundation to URC's affiliate, the Foundation for the Uptown Reinvestment Corporation, the 340,000-square-foot Riverfront Residence Hall & Banquet Center features academic space, a conference center, a movie theater, and fitness center, and room to house more than five hundred students. The foundation, a key supporter of the Riverfront project in downtown Flint, is waiving the balance of the repayable grants to enable URC to transfer the property to the university.
"Our role at URC is to take distressed buildings and develop them into properties that support the revitalization of downtown Flint," said URC president Tim Herman. "And we’ve accomplished that with the Riverfront property. Now, thanks to the generosity of the Mott Foundation, we can donate the facility to UM-Flint."
"We want to help the University of Michigan-Flint grow," said Mott Foundation president Ridgway White. "As the university expands, it opens more doors to educational opportunity and creates a more vibrant and diverse experience for students. As an anchor institution in downtown Flint, it’s also a driving force in our community’s continued revitalization."