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Thursday, November 14, 2024

Potential investment would bring huge commercial facility to former fairgrounds

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Mayor Duggan announced a possible deal for two firms to purchase the Michigan State Fairgrounds. | Pixabay

Mayor Duggan announced a possible deal for two firms to purchase the Michigan State Fairgrounds. | Pixabay

The former Michigan State Fairgrounds in Detroit could have a new use in the near future, as the office of Mayor Mike Duggan may have struck a deal with Hillwood Investment Properties and the Detroit-based Sterling Group.

The firms are considering purchasing 142 acres at the former fairgrounds to construct a 3.8-million-square-foot commercial facility targeted at attracting companies such as Amazon, according to the City of Detroit's website.

Under the proposed deal, the development team would purchase the land for $9 million, and would not receive any tax breaks or financial incentives from the city, according to the City of Detroit. The firms would also fork over $7 million to cover the cost of a new Detroit Department of Transportation transit center as part of the project.

“This agreement for the proposed sale of the State Fairgrounds is a tremendous opportunity, not only for District 2 and the City of Detroit, but for the unification of Southeast Michigan,” said Councilman Roy McCalister, whose district includes the fairgrounds property, according to the City of Detroit's website. “The potential for 1,200 Amazon jobs this new facility represents an opportunity to diversify our economy while employing residents of our city. To that end, I hope and expect that this new facility will become a major employer, as well as a dynamic training ground for Detroit workers for years to come.”

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