NorthPoint Development and Michigan-based LoPatin & Co. have announced plans to redevelop the 44.768-acre site of the former Cadillac Stamping Plant in the City of Detroit. The project will include the demolition of an abandoned factory and the construction of a new 684,000-square-foot Class-A industrial building that will be targeted toward automotive suppliers and advanced manufacturing and logistics opportunities.
The project is expected to generate a total private investment of $47.9 million and is anticipated to create 450 full-time jobs. It also will address the lack of manufacturing space in the region, which has been a hindrance in attracting large corporate tenants.
The City of Detroit Brownfield Redevelopment Authority today received Michigan Strategic Fund approval of more than $3.3 million in state tax capture to reimburse for eligible brownfield remediation activities, which makes redevelopment of the site possible.
The property has a history of manufacturing uses dating back to the early 1900s and requires extensive cleanup of the soil, asbestos removal and exorbitant demolition costs. The project will also include the improvement of public sidewalks on the property.
The City of Detroit is supporting the project with the local portion of the Act 381 Work Plan request valued at $4.6 million and an anticipated 12-year Industrial Facilities Tax Exemption valued at $8.08 million. The developer plans to work with the Detroit at Work career center for hiring with a commitment to give preference to Detroit residents.
The project aligns with the Michigan Economic Development Corporation’s strategic plan by redeveloping underutilized and contaminated land into attractive places that can be used to attract business expansion and job opportunities in a geographically disadvantaged area in the region.
