Council approves sale agreement with River Caddis for downtown Barringer building

The Saginaw City Council approved a purchase agreement with River Caddis Communities LLC for the downtown Barringer building, a move city staff said could bring redevelopment and new residential units to the structure.

City staff said the Michigan Economic Development Corporation (MEDC) recommended River Caddis and that the two parties began working on a purchase agreement in January. "It was a recommendation from the Michigan Economic Development Corporation," a staff member told the council. The developer, staff said, brings a team of attorneys and financial partners and plans a mixed‑use redevelopment with first‑floor retail and upper‑floor residential units.

Staff also told council the building is currently under study by the historic district commission and that state law (PA 169) and local ordinance require historic‑district review for exterior changes, which would prevent demolition without commission approval. A staff representative said the commission process protects the building from exterior alteration while the study is under way.

Council members broadly welcomed the proposal and described the purchase as an encouraging sign that outside investors view Saginaw as a viable redevelopment market. Council discussion referenced past uses of the building — offices, studios and retail — and current plans to pursue federal and state incentives, including brownfield or historic tax credits where appropriate.

The motion to approve the purchase agreement passed; council did not discuss detailed financing or a final redevelopment plan at the meeting. City staff said the developer will continue design and financing work and will coordinate required historic‑district review and permitting before starting construction or exterior work.