Northville Township issued the following announcement on Feb 23.
The Michigan International Technology Center Redevelopment Authority (MITC) received some good news.
The state and the Michigan Economic Development Corp.’s Michigan Strategic Fund approved $15.6 million to clean up the former site of the Detroit House of Corrections. It clears the way for millions of dollars in redevelopment on the property that straddles both Northville and Plymouth townships.
The MEDC will get its money back in future years through a tax capture, where the money comes from increased property taxes paid at the site after the development is complete.
The state’s funding will alleviate the property’s brownfield conditions and shore up infrastructure at the site, making it suitable for redevelopment. The state tax capture works in tandem with MITC’s local capture support of $13.8 million.
The infrastructure improvements needed include a stormwater detention pond, sidewalks, curbs, paving and landscaping, which supports this project and attract future investment.
This helps MITC’s plans to welcome the construction of a 65,952-square-foot commercial flex space by Hillside Ridge Road Holdings East, LLC, a Novi-based company. The project, on the Plymouth Township side, is expected to generate a total capital investment of $38.7 million, and when the facility is fully leased, it is expected to have the potential to support efforts that could employ up to 300 full-time equivalent office and research and development jobs.
The improved infrastructure positively impacts the property values in Northville Township as well, said Northville Township Supervisor Mark J. Abbo.
“We are grateful for this $15.6 million to clean up the brownfield,” Supervisor Abbo said. “It demonstrates the state’s and MEDC’s belief in our community. We are a welcoming place for companies to now call home.”
Original source can be found here.
Source: Northville Township
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