©2016 Michigan Economic Development Corporation

Granholm, Ficano Announce Historic Trenton Redevelopment

Wednesday, January 18, 2006

Michael Shore, MEDC
(517) 335-4590

McLouth Site to Transform into Riverfront 'Jewel'

Governor Jennifer M. Granholm and Wayne County Executive Robert Ficano today announced state brownfield tax incentives to support a historic project that will transform the former McLouth Steel property in Trenton into a mixed-use riverfront development. The project is expected to generate more than $25 million in private investment and create up to 1,500 new jobs.

The developer, Real Estate Interests Group, will use state and local tax capture valued at more than$98 million to demolish existing structures and decontaminate the property.The site will then be ready for a mixed-use development to include 2,400 residential units,600,000 square feet of retail space and a public marina to be owned and operated by Wayne County.

WayneCountyand the city of Trentonare considering a bonding proposal to support the project, to be known as Bay Village of Trenton. The developer will invest $25 million.

The redevelopment is one of three economic development projects the Governor announced Tuesday based on assistance from the Michigan Economic Development Corporation (MEDC). In all, they are expected to create a total of 1,615 Michigan jobs.

In her 2005 State of the State address, Granholmemphasized the importance ofmaking 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 66,000 jobs as a result of targeted assistance provided by the MEDC.

www.michigan.org.