Friday, September 09, 2005
Michael Shore, MEDC
New Homes Will Replace Abandoned Factory
Governor Jennifer M. Granholm today joined state, county and city officials in Wyandotte to celebrate the transformation of a contaminated former site of the McCord Corporation manufacturing facility into a new mixed-use residential neighborhood. The project, to bolster the community and improve the quality of life of its residents, results from a state brownfield tax incentive approved by the Michigan Economic Development Corporation (MEDC).
"This new neighborhood will transform a public eyesore into quality new homes and a wonderful place for families to live," Granholm said. "It is one more example of how our efforts to revitalize our core cities are paying dividends across the state."
The Labadie Park Neighborhood, located at the intersection of Labadie and 2nd streets, will be comprised of 92 market-rate homes including townhouses, terrace apartments and three sizes of single family units. The project will create two new jobs, both property management positions.
In April, Granholm announced a $1 million brownfield Single Business Tax credit for Labadie Park LLC to help with the cleaning and removal of hazardous materials from the 7.3- acre site. Over the past few months the abandoned factory has been demolished and the site tested and certified as meeting quality standards for unrestricted residential use. The city of Wyandotte agreed to assist the project with repayment of a $988,500 federal Brownfield Cleanup Revolving Fund loan.
"Michigan's brownfield program is an extremely vital economic development tool," MEDC president and CEO James Epolito said. "It allows the state to work aggressively with local governments and businesses to clean up, redevelop and reuse blighted and obsolete properties to create new jobs and stronger, more vibrant communities."
In her 2005 State of the State address, Granholm emphasized the importance of making Michigan a global economic powerhouse in the 21st century. Since January 2005, the Governor and the MEDC have announced the creation or retention of more than 60,000 jobs as a result of targeted assistance provided by the MEDC.