X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TROY, MI-Saleen Inc., an assembler of the Saleen Mustang and high-performance automobiles, has won approval from the city council to build a factory on a brownfield site. The redevelopment of the Stanley Door property, which sits on 15 acres, is a major undertaking because of the condition of the building and the property, says Doug Smith, the city’s real estate and development director.

Developer REDICO is using the city’s brownfield redevelopment authority process to ask for a 10% tax credit on new development costs from the state, for up to 10 years. Environmental issues in the current building and on the site make the site eligible for brownfield designation.

The new project would include an office, museum, assembly plant and demonstration area in the front of the new building.

Troy officials approved the brownfield plan. However, the project is now competing against another plan to renovate and rebuild at the company’s current Irvine, CA facility.

The brownfield site has been unused for almost a decade, city officials say, and is one of the last of three properties identified as primary redevelopment targets to create momentum along the Maple Road corridor. The other two projects, the old Troy Hilton and former Ford Tractor facility, have both been redeveloped.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.