The current state equalized value of the property is $228,340 and expected to increase to $13.6 million following redevelopment. The project will bring a capital investment of $47.9 million. The EGLE grant will fund the design and installation of a vapor mitigation system and contaminant resistant stormwater detention pond liners. These activities caused soil and groundwater contamination that pose a vapor intrusion risk to the proposed new building. Known historical environmental contamination include volatiles, semi-volatiles, polychlorinated biphenyls (PCBs), cyanide and select metals. Some of these potential sources include pressing and metal stamping, electro-plating, dipping, chemical treating, laundry and dry-cleaning, air and liquid filter, paint by-products, polypropylene material recycling, former railroad storage and operations, and coal storage. Various plant properties were contaminated due to various historical commercial and industrial operations spanning from the early 1900s to the early 2000s.
Once construction is complete, Lear Corporation will move into the location and create 400 jobs. EGLE awarded a $1 million Renew Michigan Grant to the Wayne County Brownfield Redevelopment Authority and has approved of roughly $6.6 million in tax increment financing to assist in redevelopment of the site. M3 Commerce CenterĬonstruction officially began this week with a groundbreaking for M3 Commerce Center, a 684,000-square-foot multi-tenant industrial facility located at the former Cadillac Stamping Plant, 9501 Conner Ave.
#Medis egle free#
When brownfields - vacant or abandoned properties with known or suspected contamination - are redeveloped, property values increase both on the revitalized site awards and on other nearby properties.ĮGLE's Remediation and Redevelopment Division provides financial and technical assistance including grants, loans, tax increment financing and free site assessments to facilitate the redevelopment of brownfield properties. More than half of EGLE's budget each year flows into Michigan communities through grants, loans and other spending that supports local projects, protects public health and the environment, ultimately creating economic growth and jobs for Michigan workers. It also supports a vibrant economy in Detroit, and beyond." "Investing in this project, and redeveloping brownfields, ensures a healthier environment for all of us. "A century of industrial and commercial operations at Cadillac Stamping properties left a legacy of contamination," EGLE Director Liesl Clark said this week while visiting the site. Plans include a multi-tenant industrial facility at the former Cadillac Stamping Plant on Conner Avenue and Gratiot, residential/commercial development on West McNichols, rehabilitation of two historic residences at the corner of East Jefferson and Van Dyke, and construction of a 22-acre park along the Detroit River. The Michigan Department of Environment, Great Lakes, and Energy (EGLE) has awarded $3.6 million in brownfield grants to four projects for redevelopment of contaminated properties in Detroit.