As part of an ongoing redevelopment effort targeting downtown Flint, Michigan, the Charles Stewart Mott Foundation has transferred ownership of five buildings to a nonprofit development corporation.
Mott, which began acquiring the buildings in the 1990s to keep them from being used in ways that would be incompatible with the historic function of the city's central business district, entered into an agreement with the Foundation for the Uptown Reinvestment Corporation (F-URC) for the properties. F-URC is a supporting branch of the Uptown Reinvestment Corporation, which is focused on revitalizing the down-on-its luck city. The five buildings, which have a total appraised value of $653,000, most recently housed the Copa, the Jewish Federation, the Legal Services of East Michigan, NBD Trust, and Blackstone's.
"We are both pleased and excited with this arrangement," added Mott Foundation president William S. White. "We expect this to add momentum to the redevelopment of Flint's downtown."