Bancroft-Eddy Apartments to close, forcing residents to move

Residents in a low-income housing unit in Saginaw will soon have to find another place to live. Owners of the Bancroft-Eddy building have failed to reach a new agreement with the Housing Development Authority. Were talking about 150 units.

The Bancroft-Eddy building has provided low income housing since the early 80's. Now city planners are looking at possibly converting the building into a dormitory for Central Michigan medical students.

The Bancroft-Eddy building in Saginaw is the only residential housing building downtown. It used to be a hotel decades ago but was changed to low income housing units in 1982. These days you'll find it occupied by mostly older residents. But, tenants recently received a letter saying they'll be relocated within a year.

Saginaw resident Lloyd McDole is concerned saying, " They need to have someplace for the people to go before they put them out in the next year."

Vance Morris is a bit optimistic saying, " I t could be a good thing and at the same time it might be a bad thing because they been there for years."

T he buildings owners have failed to renew a contract with the state Housing Development Authority. Over the years there have been some crime problems. some Saginaw residents are not surprised.

Syreeta Foster says, " A s long as they got somewhere for them to go I think that'll bring the downtown up instead of down."

T hat may be what investors have in mind. Upscale living in Saginaw has long been a goal of city developers. In this case developers may be aiming for student occupancy. The Central Michigan school of medicine plans to open in 2015 bringing the need for student housing. Some Saginaw residents say they would even be interested in upscale downtown apartments.

Syreeta Foster expresses interest saying, " Y es I would honestly because when I lived in Grand Rapids I lived there for a long time and they're downtown apartments are beautiful so i can imagine what they can do to the apartments down there."