Exploring the Urban Luxury of The BANCROFT APARTMENTS

Whenever the topic of historic landmark residences comes up we often think of such iconic living spaces as New York’s Chelsea Hotel and the Dakota Building, or San Francisco’s luxurious Fairmont Hotel - structures possessing a unique architectural integrity that stands out while  seamlessly blending it’s singularity into the background of the community that gave birth to its creation. 

Such is the case with Saginaw’s exquisitely renovated Bancroft Luxury Apartments building, which has stood as both an iconic beacon and barometer of Saginaw’s resilience at the prominent intersection of Washington and Genesee Streets for 166 years now and counting.

With a foundation fortified by the indelible strength of history and a mystique embedded within the bricks & mortar of those inhabiting its hallways, the Bancroft was originally financed back in 1859 by lumber baron Jesse Hoyt and named for his friend George Bancroft, who himself was an esteemed historian.

On March 20, 1881 the first incandescent electric lamps used commercially in Michigan appeared at The Bancroft and were suspended from a rope, with people coming  from miles and miles away to see it. Famous hotel guests included President William H. Taft, singer Gene Autry and Helen Keller, to name but a few.

On the culinary side of life, in 1872, famed Bancroft chef George Cobb (of Cobb salad fame) concocted a recipe for some of the best corned beef hash in the nation when he had too many leftover boiled potatoes. The hash was so popular it was on the menu at the Waldorf-Astoria hotel in New York and in eateries in Jamaica and Japan.

And when it came to grand entertainment, in 1879 P.T. Barnum brought his "Greatest Show on Earth" to Saginaw and checked into the Bancroft Hotel. His circus performers and animals camped on South Washington street.

Winds of Change • An Evolution of Affordability & Value

By 1915 The Bancroft Hotel  was razed to make way for a bigger-and-better six-story structure that rose there a year later. For decades the Bancroft was Saginaw’s largest and most prestigious hotel – it’s Crystal Ballroom serving as the region’s premier site for hosting an event or wedding, rooms filled, and its lower levels populated with retail businesses.

In the aftermath of the tumultuous times of the 1960s and ‘70s, back in 1982 The Bancroft underwent conversion into low-income units for the elderly and handicapped and became HUD properties, with tenants receiving housing vouchers, along with a slew of problematic controversy that soon quickly ensued.

Thankfully, due to the visionary efforts back in 2014 of Lakeshore Management, both the Bancroft & Eddy Buildings spearheaded a true renaissance in Downtown Saginaw with a  $6 million dollar investment that completely restored these treasures to their original splendor, replete with modern appliances, granite countertops, and hardwood floors, offering reasonable rates and some of the finest rental units and commercial opportunities one will find throughout the entire Great Lakes Bay region.

Shortly thereafter, from 2014-2019 a Coffee Shop and Wine & Martini Bar opened, followed by a remarkably innovative live music & dining venue known as Bourbon & Co, followed by the Saginaw Art Museum also opening an ancillary Art Gallery to sell the works of regional artists, which along with the opening of the SVRC Marketplace, spearheaded a renaissance in Downtown Saginaw.

In early 2019 when all cylinders appeared to be firing strong Lakeshore sold The Bancroft & Eddy Buildings to ROCO Property Management, which is based out of Bloomfield Hills. However, as the unexpected arrows of misfortune would have it, in the late summer and early fall of 2019 just prior to the Covid Pandemic, all the lower retail spaces were forced to close.

Miraculously, as it has done over the centuries, Bancroft Luxury Apartments has successfully been able to navigate whatever uncertain currents history takes us upon and still stands strong today as a beacon of resilience, romance, shelter, and opportunity for our community and region.

Luxury Living at Its Finest

Walking through the beautifully appointed lobby of The Bancroft one is immediately enraptured by both its comfort and elegance.  When asked what distinguish and make the apartments such a valuable investment, property manager Raechal Call points out several obvious, and many not so obvious factors.

“Each of the units definitely have the feel and aesthetic of luxury living,” she reflects. “All the appliances are stainless steel, all countertops are granite, and the windows offer some amazing views of the city and the water.  We have great amenities such as an outdoor grill and firepit, a 24-hour fitness center and laundry facility, and some awesome tenants and neighbors.”

“Unlike most city living where parking is always an issue, we don’t have that problem here,” she continues. “In addition to two big parking lots for our properties, tenants have the ability to park on Water Street without ticketing. Plus, we offer tenants special monthly events ranging from a free yoga event to serving coffee and donuts down in the lobby; and this month we’re doing a Brown Bag Breakfast-to-Go and handing them out to tenants on their way to work.”

Raechal says because of all these factors, the turnover rate at The Bancroft is remarkably low. “We have a lot of tenants that stay for several years, along with many young professional students and business people.  Residential accommodations range from one and two-bedroom apartments to a one-bedroom fully furnished apartment, with each apartment varying in dimensions. Each one of them is unique because of the way they were remodeled and they all have a different layout ranging from 598 sq. feet for the one-bedroom to 788 sq. feet for the 2-bedroom.”

“People aren’t isolated here,” she continues. “In addition to being pet friendly, we have a big beautiful lobby for them to enjoy, a media room attached to the upstairs ballroom, cable and internet use, a big fireplace for them to enjoy, and the pricing on our furnished units includes everything, including utilities and internet. Additionally, we offer preferred employer discounts for big name companies or entities such as SVSU, Covenant, Nexteer, or Hemlock Semi-Conductor.

Another pivotal attraction about the Bancroft is being so centrally located in Downtown Saginaw, walking distance from such cultural and entertainment treasures as The Temple Theatre, Castle Museum, and Hoyt Library. “With the SVRC Marketplace right next to us, along with Valerie’s Restaurant, hopefully we’ll be able to fill our lower retail spaces soon as well,” Raechal notes.

“Fortunately we get a lot of activity up in the Crystal Ballroom between bridal shows and weddings, and provide enough seating and chairs for up to 200 people,” she continues. “We also host a lot of weddings and charity events.”

“I do feel the empty retail storefront units have hurt us, but with any luck that will change soon,”  notes Raechal. “When I first came here we had a tenant lease holder for all the commercial units in the Bancroft building, and he would rent out the bars for private and personal events, but he’s no longer here so they are back on the market for lease.”

With 150 units between both the Bancroft & Eddy buildings, Raechal says many units are currently available and they presently sit at 75% occupancy. Monthly rentals start at $920.00 and given how these buildings represent a vibrant landmark within the community, they offer people a truly unique residence with unrivaled amenities at an affordable price, replete with the perfect combination of flexible floor plan options and upgraded interiors designed to fit your lifestyle.

For more information or to schedule a tour you can contact Bancroft Luxury Apartments by phoning 989-674-4940 or visiting bancroftrentals.com.