THE OWNERS of the historic 5/3 building in Owosso, formerly the Owosso Savings Bank, will soon begin restoring the old three-story structure. The plan calls for the restoration of the exterior brick façade and the large arched window.

(Independent Photo/Graham Sturgeon)

 

   The historic 5/3 building in Owosso, located at 123 N. Washington St., will soon be restored to its original beauty and the upper two floors will be turned into residential space. The building’s owners, Jim and Randy Woodworth, are currently awaiting grant approval to proceed with work on the building, and provided they receive federal Historical Tax Credit approval, they hope work will begin in the spring or summer of 2024.

   The exterior work will include uncovering the windows on the upper floors and re-constructing the building’s original arched windows, as well as extensive sandblasting of the painted exterior brick. Inside, the historic wood features many of which are in very good condition, will be preserved or restored. The layout of the space will be changed, however.

   The second floor, which currently consists of mostly dusty office space, will be turned into seven unique residential units. The third floor, which was formerly the headquarters of the Owosso Masons, with its high ceilings and grand windows, will be transformed into five residential suites. The prices will range from $650 per month for a studio apartment to $1,800 per month for the penthouse suites.

   Owner Jim Woodworth acknowledges that this is a huge, ambitious project, but the payoff will be great when the work is complete. In addition to helping to alleviate the current housing shortage, the renovation of the building will restore a piece of historic downtown Owosso, and Owosso 5/3 branch manager Becky Yost is excited for the curb appeal the renovation will generate.

   “I am really excited to see the transformation take place,” shared Yost. “Obviously, the curb appeal will be huge. I have customers who ask every day, ‘When are you going to fix the building?’ I try to explain to them, the owners have made the necessary repairs to secure the building, because initially the marble was falling off outside, and we didn’t want anyone getting hurt. Now, they are ready to move forward with the renovation and I cannot wait to see the building when it’s done.”

5/3 Building in Owosso to be Renovated was last modified: October 3rd, 2023 by Karen Elford