City of Hannibal plans to revitalize vacant downtown bank building

Published: Nov. 19, 2021 at 5:49 PM CST
Email This Link
Share on Pinterest
Share on LinkedIn

QUINCY (WGEM) - The former MCM Savings Bank has issues with its exterior, and the Hannibal Regional Economic Development Council wants to transform it into something new.

The Hannibal Regional Economic Development Council (HREDC) is working to redevelop the vacant building at 228 Broadway St. into office space, apartments or other businesses.

B Diamond Infra, which owns the building, is expected to begin weatherization work on the windows and roof and clean up the exterior next week.

HREDC Executive Director Corey Mehaffy said they are looking at using this space for offices or residences.

“Hopefully those will be complementary to what’s already going on in downtown, so that will continue to enhance the attractiveness of our downtown and obviously lead to more visitors and money being spent in downtown,” Mehaffy said.

In the 45 years Lisa Willett has worked at the Crescent Jewelry Co. in Hannibal, she said she’s seen the neighboring MCM Savings Bank sit vacant for a while.

“I had seen it vacant and then some things in there,” she said. “It’s such a cool building, too.”

Willett thinks revitalizing the building will bring more shoppers to the area.

“The more things to come see, come do, even if it’s offices, it just draws people down,” Willett said.

Mehaffy said they have been meeting with local officials to discuss the best plan for the building.

The HREDC is looking into getting money from the federal infrastructure package, as well as other federal and state programs to fund the project.

“After the first of the year hopefully we can plan for redevelopment and start moving in that direction,” Mehaffy said.

Copyright 2021 WGEM. All rights reserved.