A new event venue will soon debut on the top floor of the former Federico’s Design Jewelers building at the busy downtown Traverse City intersection of Front and Cass this fall.

The Ticker got a sneak peek at the progress inside the historic bank building, thanks to building owner Marie Schwartz who, with her husband Jeff, purchased the building after Fifth Third Bank took ownership from the jewelry store in 2011.

The venue will be called “The Corner Loft,” and will serve as a rental space for weddings, receptions, meetings, and parties. Located at 201 E. Front Street – right in the heart of downtown TC – it’s expected to be a popular choice for events of all types, says Schwartz.

“We’ve heard there’s real demand for people who want cool space right downtown, and obviously with views of Front Street and the Bay, we think this will be a great space.”

Allison Beers, whose company Events North plans and conducts social and corporate events in northern Michigan, agrees.

"This top-notch venue will be another jewel to our downtown. It will be an excellent venue for company meetings offsite and also social events."

Work is underway now to complete the space. Brick, electrical, ceiling and many other improvements are being made to the century-old building. Even though it’s a construction site today, the soaring ceilings and giant windows already portend a unique venue. The Corner Loft will eventually accommodate up to 120 guests and be equipped with state-of-the-art audio/visual and sound equipment, as well as a kitchen prep area.

Schwartz says she expects renovations to be complete in October, adding that “they better be,” considering she’s booked a wedding rehearsal dinner for that month.

Schwartz’s husband Jeff told The Ticker when he purchased the building in 2011 he could “take his time” before deciding what to do with the “blank canvas,” noting that he was considering adding onto the building or converting the upstairs into his own residence.

Downstairs on the ground floor, the former bank and jewelry store space sits vacant as Marie Schwartz entertains offers for lease from retailers. She hopes to keep the giant walk-in bank vault as a part of any new tenant’s plan. The first floor of the building, which was formerly a bank, features up to 2,150 square feet of retail or office space available for rent to a long-term tenant.