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The Department of Justice is requiring Huntington and TCF banks to sell off 13 bank branches in Michigan to go through with their newly approved merger and assuage antitrust concerns.
The mandatory sell-off, known as a divestiture, will involve $975 million in customer deposits, including those at a 14th branch, and total more than twice what Columbus-based Huntington and Detroit-based TCF initially anticipated would be required to satisfy federal regulators.
The branches are all TCF branches and will remain open, but must be sold to a different bank. Huntington announced late Tuesday that the different bank will be Horizon Bank, which has a tentative deal to buy all 14 of them.
AN ALL-WHITE building with floor-to-ceiling windows, viewed from the east on Seward. Melrose is at left. Proposed as a five-story, media-focused project, it adjoins the John C. Fremont Library.
A five-story creative office building targeted to media companies and designed with an open space, post-pandemic perspective, is planned at the northwest corner of Melrose Avenue and Seward Street.
Floor-to-ceiling windows, an open stairwell and ample outside spaces are among features of the project by developer Bardas Investment Group.
Plans include 68,000 square feet of new office, retail and open space in four buildings at 6101-6107 Melrose / 713-735 N. Seward. The project includes two existing historic buildings that are part of the 100,000-square-foot campus.