MI: Detroit Redevelopment Project to Result in $66 Million Investment, Potential for 350 Jobs | Trade and Industry Development

MI: Detroit Redevelopment Project to Result in $66 Million Investment, Potential for 350 Jobs

Share
Aug 03, 2022
The AMC Headquarters Redevelopment Project will redevelop the approximately 50 acres of the former American Motor Company headquarters site in the city of Detroit.

The AMC Headquarters Redevelopment Project will redevelop the approximately 50 acres of the former American Motor Company headquarters site in the city of Detroit, including the construction of an approximately 790,000 sq. ft. building for warehousing or light assembly industrial tenants. The project is expected to result in a total capital investment of $66 million, and when fully occupied, will result in the creation of more than 350 full-time equivalent jobs.

The AMC site is currently one of the largest and most significantly blighted and contaminated industrial sites in the city of Detroit. This project returns the site to productive use and helps to build Michigan’s site portfolio.

“Today is the culmination of five years of intensive work by the DEGC and the city of Detroit listening to neighborhood residents, and steadfastly working to solve how to fund the more than $30 million in environmental cleanup and demolition work required to redevelop this longstanding eye sore back into the economic engine and job center it used to be for this neighborhood and our city,” said Detroit Economic Growth Corporation Executive Vice President of Economic Development & Investment Services Kenyetta Bridges.

The City of Detroit Brownfield Redevelopment Authority today received MSF approval of state tax capture valued at $5,089,583 to be used to reimburse for brownfield-related activities at the site. The city is supporting the project through a local tax abatement valued at $7,547,417 and an Industrial Facilities Property tax abatement valued at $7.5 million.

“Our investment into the former AMC Headquarters works to redevelop the former site for long-term sustainability by putting the site back into production, regenerating taxes into the community, and further strengthening the economy through job creation,” said NorthPoint Development Vice President of Development Tim Conder.

In addition to cleaning up the blight and contamination, the activation of approximately 790,000 square feet of industrial space is critical in addressing the shortage of space in the city of Detroit, metro Detroit, and the state. Market analysis has repeatedly shown that large, move-in ready sites are in demand. Supporting this type of property remains vital to retaining existing companies in the state as they grow and offers opportunities to attract new companies here to Michigan.
 

(Click to Expand)