Two downtown landmarks have changed hands. The first: the historic bank building at the corner of Front and Cass Streets, formerly home of Federico's Design Jewelers. Local entrepreneur Jeff Schwartz purchased the building from Fifth Third Bank, which took over ownership from Federico's in 2009.

Schwartz tells The Ticker, "Like a lot of people, I drove by it every day to work for a couple years, and it piqued my interest, especially when I saw the upstairs cleared out. Sam [Abood, the property’s Realtor] showed my wife and I the space, and we said 'Let's go for it before we change our minds."

"I can take my time and decide what I want to do. It's just a blank canvas, waiting to be painted," Schwartz says.

His ideas for the canvas: Possibly converting the upstairs into his own residence, expanding the building to the north toward the alley, or something completely different.

"If a great idea comes up, we'll pursue it. We just want to figure out its best use for us and for the community. We love the architecture so much, I just really don't want to screw it up, whatever we do."

According to Abood, "Activity levels and interest in the building was very high, with a lot of showings throughout the listing." Last year, the bank demolished several walls and drop ceilings upstairs so that "people could really envision something there." Just after the holidays, three offers were received, and Schwartz's was accepted.

George Wildman of Federico's purchased the building in 2003. He originally listed it for sale in 2009 with Sam Abood and Mike Schmidt of Coldwell Banker Schmidt for $800,000. Fifth Third took over shortly thereafter and offered it for $629,000. Schwartz purchased the building for $530,000.

A little farther south, another historic structure has changed hands – and names: the historic Cigar Box Company building, formerly owned and occupied by Fitness Center Inc., is now owned by TC entrepreneurs Victoria and Matt Sutherland. The couple just purchased the 11,000-square-foot property and plan to move their home and businesses there, as well as rename the structure “The Box at Boardman.”

The pair heads up TC-based publishing and media companies Spirituality & Health, currently located on Cass Street, and ForeWord Reviews, housed on Front Street.

By the end of April, both companies will move into the 4,000-square-foot third floor of the building – the area formerly occupied by the Fitness Center’s physical therapy offices. By the end of this year, the Sutherlands will convert the main floor, which served as the Fitness Center’s gym, into a two-bedroom loft-style residence.

Part of the remodeling plan for their new residence? The installation of what Sutherland calls a “raised library of sorts” for open-to-the-public poetry readings or other intimate performances.

Thanks to Matt Sutherland’s love of cooking and wine – he was a co-founder of TC’s Epicurean Classic and co-authored the Savor Michigan Cookbook – the centerpiece of the building will be the kitchen. “Hopefully big enough and welcoming enough to fit a film crew inside,” says Victoria Sutherland.

She says she has no qualms about inviting the public into their home: “It’s huge. It’s not really ours. We’re just going to occupy it for a while.”