Officials to Break Ground on Fenton's Cornerstone Project

After years of work and preparation, Fenton officials are ready to break ground on the Cornerstone Project.

Officials will host a groundbreaking ceremony at 5:30 p.m. July 8 at the the corner of Leroy Street and Silver Lake Road.

"The Cornerstone is yet another important piece of rebuilding Fenton's downtown," said Fenton Downtown Development Authority Chairman Craig Schmidt. "As acting chairman I want to thank everyone involved and welcome everyone to the historic groundbreaking and revitalization of our great city."

Corlin Builders will develop a four story, mixed-use building at a total cost of $4.7 million. The project will include tearing down the old Republic Bank site on the corner of Silver Lake Road and North Leroy Street and constructing a new four-story mixed-use development building, which will include dining and retail space, along with 23 residential units on the upper floors.   

Three businesses have signed leases on the first floor.   Chef Shiro Inoue will open a version of the popular Flint eatery Sagano Japanese Bistro and Steakhouse. Café Aroma will move from its location on Silver Lake Road to the Cornerstone Building and double its space to 1,800 square feet. Salon 416 will lease a unit of 2,500 square feet, featuring a shampoo room and styling space. There is also an additional 3,000 square foot unit for lease on the first floor.  

The top three floors will include apartments priced at $900 to $1,250 per month.   The building is set to be completed by winter 2014.  

Corlin Builders will finance $2.2 million for the project and also invest $800,000 in equity. The Michigan Economic Development Corporation awarded Corlin Builders $880,000 through the Michigan Community Revitalization program. The total investment by the DDA for the project is approximately $581,000. 

Officials are also anxiously awaiting completion of another project as construction continues on the old Fenton Fire Hall. The Union Joints is expected to open the new restaurant in the location in late September/early October.