Sale and Redevelopment of RACER Trust Site in Kansas City, KS, Means 2,000 New Local Jobs
KANSAS CITY, KS — The Unified Government Board of Commissioners of Wyandotte County and Kansas City, KS, today approved an agreement with NorthPoint Development for development of the new Central Industrial Park, a project that is expected to create 2,000 new jobs at the site of a former General Motors auto assembly plant.
The RACER Trust, which owns the 80-acre site in Kansas City’s Fairfax Industrial District, already reached a purchase agreement with NorthPoint. The purchase agreement was contingent upon the Unified Government Board of Commissioners’ approval of a binding development agreement with NorthPoint.
“NorthPoint’s planned Central Industrial Park represents a strong commitment to the community, with more than $40 million in capital investment and projections for 2,000 new jobs,” RACER Trustee Elliott P. Laws said. “I congratulate NorthPoint, the Unified Government and the people of the Kansas City metropolitan area who ultimately will benefit from the jobs and other economic opportunities created by this investment.”
According to Chad Meyer, NorthPoint Development’s Chief Operating Officer, NorthPoint plans to begin preparatory work at the site in late summer and begin construction of the 1 million-square-foot Central Industrial Park in the fall. The first tenants should be operating by late summer or fall of 2014.
The Central Industrial Park is designed to accommodate three to eight manufacturing businesses. Job-creation projections are the same regardless of how many tenants occupy the development, which is expected to be fully built over a 6- to 10-year period.
“The entire NorthPoint team is excited to have earned the stewardship of the RACER Trust/Central Industrial Park project,” Mr. Meyer said. “To see a brownfield site get redeveloped into a premier manufacturing and industrial park, and create an opportunity for new industry that hasn’t existed for 30 years, is thrilling to be a part of. We are committed to starting infrastructure and rail spur work immediately upon closing to make the project vertical-ready. We hope this will show the level of commitment that NorthPoint, our investors, the Unified Government, Jones Lang LaSalle, our community and industry partners have in making this project a huge success that will support the business community, industry growth and be the genesis for new jobs for years to come.”
“Job creation continues to be one of the major goals of this governing body. The additional jobs created from the RACER project is another powerful testament to what can be achieved through private and public partnerships that help grow our local economy,” Mayor/CEO Joe Reardon said. “This is a major accomplishment as we diversify employment opportunities throughout the city.”
Under the development agreement with the Unified Government, NorthPoint must hit infrastructure investment and aboveground construction thresholds before accessing local tax incentives. By investing private capital, NorthPoint is ensuring the community does not have to provide funding for local infrastructure improvements, such as to roads, water and utility lines, to service the property.
“The RACER Trust’s redevelopment mission includes working with communities and the private sector to facilitate locally supported investment and job creation,” said Bruce Rasher, Redevelopment Manager of the RACER Trust. “I’m pleased to say the sale to NorthPoint, and NorthPoint’s development agreement with the Unified Government, is an excellent example of the positive outcomes that can be achieved when all parties are committed to achieving a shared goal.”
The RACER Trust has closed 26 property transactions at former General Motors locations since the Trust was established in March 2011. Total sales thus far have exceeded $26 million.
About the RACER Trust: The RACER (Revitalizing Auto Communities Environmental Response) Trust was created to clean up and position for redevelopment properties and other facilities owned by the former General Motors Corp. before its 2009 bankruptcy.
RACER is one of the largest holders of industrial property in the United States and is the largest environmental response and remediation trust in U.S. history. When the Trust was formed, it owned properties at 89 locations in 14 states, principally in the Midwest and Northeast. The Trust, which is independent, was created by a settlement agreement in the U.S. Bankruptcy Court between the U.S. Government, the 14 states where the former GM properties are located, and the St. Regis Mohawk Tribe, which owns land adjoining one of the properties in Upstate New York. For more information, please visit our website: www.racertrust.org.
About NorthPoint Development: NorthPoint Development began as the management arm of Briarcliff Development, successfully leasing some of Kansas City’s most prestigious Class A office space in the Briarcliff Village neighborhood. In 2012, CEO Nathaniel Hagedorn formed NorthPoint Development as an independent company, bringing several of his developers to leverage their years of experience in service of a new vision. NorthPoint Development seeks to bring new, innovative commercial developments to the Northland and grow throughout the Kansas City Metro area. For more information, please visit our website: http://beyondthecontract.com.
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09/11/2018 - RACER Trust Promoting Investment Opportunities at Site Selectors Guild Fall Forum
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06/19/2018 - RACER Trust Property Marketing and Sales Team to Participate in 2018 SelectUSA Investment Summit
06/05/2018 - RACER Trust Participating in 3rd Annual New York State Redevelopment Summit
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06/16/18 - RACER Trust Attending ICSC RECon, the World’s Largest Event for Retail Real Estate Professionals
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04/26/2018 - RACER Trust to Participate in Great Lakes Economic Forum
04/17/18 - RACER Trust Completes Active Remedial Work at Property in Wyoming, Mich.
04/09/2018 - Ambrose Property Group Completes Sale and Transfer of Former GM Stamping Plant Site from RACER Trust
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03/29/2018 - RACER Trust Conducting Additional Environmental Investigation in Kokomo, Ind.
03/20/2018 - RACER Trust Promoting Investment Opportunities at Site Selectors Guild National Conference
03/13/2018 - With Interest Increasing, RACER Trust Issues Call for Offers to Sell Its Buick City Property in Flint, Mich.
03/08/2018 - RACER Trust Begins Soil Cleanup Activities at Ewing Township Property, Setting Stage for Development
03/06/2018 - RACER Trust Soliciting Offers for Purchase and Development of Industrial Property in Massena, N.Y.
02/27/2018 - Statement From RACER Trust Regarding Buick City Property in Flint, Mich.
02/22/2018 - RACER Trust Wins National Award for Sale that Enabled Construction of the American Center for Mobility
2/14/2018 - Beneficial Reuse of RACER Trust Properties Featured in Oakland Co. Brownfield Redevelopment Authority Progress Report
02/01/2018 - RACER Trust, Commonwealth Development Corporation of America Complete Transaction in Muncie, Ind.
12/18/2017 - RACER Trust, Rivore Metals, LLC, Complete Sale of Industrial Property in Pontiac, Mich.
12/14/2017 - RACER Trust Completes Series of Environmental Tasks to Facilitate Redevelopment Work at Willow Run
12/06/17 - RACER Trust Honors Ashley Capital with Inaugural RACER’s Edge Award
11/01/2017 - RACER Trust Sells Property in Romulus, Mich., for Industrial Park Development
10/4/2017 - Expo at Salina Industrial Park to Celebrate Manufacturing in Central New York
09/07/2017 - Auch Construction Celebrates Groundbreaking for New Headquarters Building in Downtown Pontiac
08/28/2017 - Lear Corporation to Build at Buick City
05/26/2017 - MDEQ video series highlights Bay City
5/4/2017 - RACER Trust, idX Corporation Complete Sale of Former GM Manufacturing Plant in Spotsylvania County, Va.
05/02/2017 - RACER Trust Selects Ambrose Property Group for Transformative Development at Former Indianapolis Stamping Plant Property
2/22/2017 - RACER Trust, George W. Auch Company Complete Transfer of University Drive Property in Pontiac, Mich.
2/9/2017 - RACER Trust, Rivore Metals, LLC, Reach Agreement on Sale of Industrial Property in Pontiac, Mich.
1/20/2017 - RACER Trust, Michigan DNR Reach Agreement on Transfer of Riverfront Property in Saginaw
12/20/2016 - RACER Trust, Commonwealth Development Corporation of America Reach Agreement on Sale of Land in Muncie, Ind.
12/19/2016 - RACER Trust Sells Interest in Pontiac Centerpoint Business Campus
12/1/2016 - RACER Trust Sells Property in Muncie, Ind., to M&M Bus Co., Inc.
11/22/2016 - RACER Trust, NorthPoint Development Reach Agreement for Sale of Lansing-Area Industrial Land
11/10/2016 - RACER Trust Completes Sale of Former GM Willow Run Property for Redevelopment as American Center for Mobility
7/27/2016 - RACER Trust Sells Property in Anderson, IN, to Tower Anderson, LLC
7/22/2016 - NorthPoint Development Bringing More Jobs to KCK
7/18/2016 - Agreement Reached on Willow Run Purchase
6/21/2016 - RACER Trust to Seek New Proposals for Purchase, Redevelopment of Prime Property Near Downtown Indianapolis
5/17/2016 - RACER Trust, George W. Auch Company Reach Agreement On Sale of University Drive Property in Pontiac, Mich.
5/10/2016 - RACER Trust Announces Sale of Vacant Land in Pontiac, Mich., to HB Dynamics
5/4/2016 - U.S. EPA Issues Community Update on Massena Cleanup
4/14/2016 - Ohio EPA Issues Covenant Not to Sure for Former RACER Trust Property in Ontario, OH
2/23/2016 - EPLET, LLC, to Continue Service as Administrative Trustee of RACER Trust
1/5/2016 - RACER Trust, Ross Community Center, Inc., Complete Sale of Land in Muncie, IN
11/17/2015 - RACER Trust, Ross Community Center, Inc., Reach Agreement for Sale of Land in Muncie, IN
9/15/2015 - RACER Trust, Ashley Capital Complete Sale of Industrial Land in Livonia, MI
9/9/2015 - U of M Video Highlights Partnership with RACER
6/8/2015 - RACER Trust Announces Sale of Flint Warehouse; More than 200 Jobs Expected
05/28/2015 - Remedial activities resume in Massena
4/29/2015 - RACER Trust Completes Sale of Property in Anderson, IN; Site to be Used by Sirmax North America for Manufacturing
3/20/2015 - U.S. Commercial Service, AmCham Canada, RACER Trust Welcome Canadian Business Leaders for Reception
3/19/2015 - RACER Trust Hires Terradex to Provide Environmental Monitoring Services
2/24/2015 - RACER-Sponsored Student Design Team Wins International Recognition for Research on Sustainable Remediation
2/6/2015 - Resources from SelectUSA
01/15/2015 - Sharing in Good News for Anderson, IN
1/13/2015 - RACER Trust Sells Vacant Land for Redevelopment in Detroit
12/17/2014 - RACER Trust Reaches Agreement with IRG for Sale of Buildings and Land in Pontiac, MI
12/10/2014 - RACER Trust Reaches Agreement with Ashley Capital for Sale of Industrial Land in Livonia, MI
12/02/2014 - RACER Trust Announces Sale to Wayne State University
11/24/2014 - RACER Trust Sells Land in Flint, MI, to Kettering University
11/10/2014 - RACER Trust, NorthPoint Development Agree to Terms for Sale of Industrial Land in Lordstown, OH
10/30/2014 - RACER Trust Announces 10-Year Lease Extension with Roth Global in Salina Industrial Powerpark
09/25/2014 - Brownfields 2015 Brings Focus on Sustainability and Redevelopment to Chicago
09/18/2014 - RACER Trust Honors Perras Environmental Control for Safe, Successful Remediation Work in Massena
9/11/2014 - Lennar Breaks Ground in Ewing
8/26/2014 - AMERICAN Cast Iron Pipe Company Begins Redevelopment of Buick City
8/7/2014 - M1 Concourse Completes Purchase in Pontiac
8/6/2014 - RACER Trust Completes Sale of Former GM CVO Facility to International Turbine Industries
8/6/2014 - CVO Remediation Team Earns EPA Honor
8/4/2014 - RACER Trust Announces Agreement to Sell Former GM Indianapolis Plant Property to REI Investments
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7/29/2014 - How Much Cleaning Up Brownfields is Really Worth
7/29/2014 - The Perfect Partner for Closed Landfills?
7/13/2014 - RACER Trust is Working to Bring Jobs to Toledo
6/23/2014 - Yankee Air Museum Signs Deal for Part of Willow Run Bomber Plant
4/21/2014 - Rebirth of America's Dead Factories
4/1/2014 - Carl Garvey Named General Counsel of RACER Trust
3/6/2014 - RACER Trust Announces Sale of Former GM Livonia Powertrain Plant to Schostak Brothers & Company
2/4/2014 - Mayor Bert Steinmann and the Ewing Township Redevelopment Agency Announce Designation of Lennar Ewing, LLC as Redeveloper for Portion of Parkway Avenue Redevelopment Area
1/15/2014 - Statement from RACER Trust Regarding Donation of Land to City of Anderson, IN
12/09/2013 - RACER Trust Honors D.A. Collins Environmental Services for Successful Completion and 58,000 Safe Work Hours on Massena, N.Y., Project
11/13/2013 - AMERICAN Brings New Investment, Jobs to Flint, MI
11/1/2013 - Plans for $250 million project, up to 800 jobs at former GM site in Moraine, Ohio, ’The home run we have been looking for.’ “
9/30/2013 - NorthPoint, RACER Trust Close Sale in Kansas City, KS; Development Projects Will Create Up to 2,000 New Jobs
09/05/2013 - Connected Vehicle Research Center Planned on Site of Former Willow Run Powertrain Plant
08/08/2013 - RACER Trust Seeking Proposals from Qualified Firms for Redevelopment of Indianapolis Stamping Plant Site
08/01/2013 - Rosie the Riveter's factory gets 2-month reprieve
08/01/2013 - 'Rosie the Riveter' World War Two Bomber Plant Needs $8 Million to Live on as Museum
07/31/2013 - Michigan Aerospace Foundation, Yankee Air Museum and RACER Trust Announce Extension of the Fundraising Deadline for Former B-24 Plant at Willow Run
6/7/2013 - Former Indianapolis Stamping Plant to be Marketed as Vacant Land
6/6/2013 - Fox-47 Coverage of RACER Community Meeting in Lansing, MI
5/23/2013 - M1 Concourse to Buy RACER Land in Pontiac, MI, Develop Destination for Car Enthusiasts
5/16/2013 - RACER Trustee Elliott Laws Receives National Brownfield Leadership Award
4/24/2013 - RACER Trust Working with Yankee Air Museum On Deal for Portion of Willow Run Powertrain Property
04/17/2013 - RACER Trust, Ultimate Soccer Arenas Reach Agreement on Deal for Land in Pontiac, MI
4/02/2013 - Aircraft Maintenance Firm Buying Willow Run CVO Facility; Sale is Expected to Result in Creation of 25 Jobs
3/22/2013 - Sale and Redevelopment of RACER Trust Site in Kansas City, KS, Means 2,000 New Local Jobs
2/7/2013 - RACER Trust Awards Major Cleanup Contract for Former GM Site in Massena, NY, to Local Firm
1/30/2013 - Ewing Township, RACER Trust Agree On Unified Marketing Approach for Former GM Property
1/3/2013 - Elio Motors to Buy Former GM Plant in Shreveport, Expects to Employ 1,500 by end of 2015
12/28/2012 - RACER Trust Completes Sale of Former GM Facility in Ohio to Major Development Company
11/28/2012 - Redeveloping Former GM Sites for New Job-Creating Uses
11/28/2012 - Plans 'On Track' for Sale of Former GM Plant
10/31/2012 - Former GM Assembly Plant in Pontiac Sold for New Industrial Development
10/31/2012 - RACER sells Fiero Assembly plant in Pontiac to Lapeer-based company
10/19/2012 - Event showcases Massena to Canadian companies
9/28/2012 - Marketplace Highlights RACER Mission
9/24/2012 - Former GM Plant Near Shreveport, La., Offers Prime Opportunity for New Investment, Jobs
8/17/2012 - GM Pact Signed, Work Begins to Bring 1,100 Jobs
8/17/2012 - Ontario Council Signs GM Site Development Pact
8/17/2012 - New Plans For Previous GM Plant
8/17/2012 - Ohio Company To Buy Former GM Plant, Bring 1,100 Jobs to Area
8/16/2012 - Major Development Firm Reaches Agreement On Purchase Of Former GM Facility
8/16/2012 - RACER Trust Announces Deal to Sell GM Stamping Plant in Ontario to Brownfield Communities Development Co.
8/16/2012 - Developer Has Big Plans for GM Site in Ontario
8/16/2012 - Filling Building Will Generate Tax Revenues
8/16/2012 - Purchase Agreement Signed for Ex-GM Plant
8/16/2012 - Real Estate Firm to Buy Ex-GM Ohio Plant
8/16/2012 - Richland County: Redeveloped GM Plant to Bring 1,100 Jobs
8/16/2012 - Firm Heading Former GM Site Redevelopment to Sell Ohio Stamping Plant
8/16/2012 - Sale Of Former Ontario General Motors Plant Announced
8/16/2012 - Brownfield Communities Development Buys Ex-GM Facility in Ohio
7/30/2012 - Potential Advantages of Reusing Potentially Contaminated Land for Renewable Energy
7/27/2012 - Repurposing Former Automotive Manufacturing Sites
7/26/2012 - RACER Trust and UEP Detroit Team Up to Provide Opportunities for Minority Entrepreneurs
7/18/2012 - RACER Trust and Goodwill’s Green Works, Inc., Partner to Promote Recycling and Create Job Opportunities in Southeast Michigan
6/28/2012 - RACER Trust looks to convene new industrial activity across a huge portfolio of former GM properties
6/27/2012 - Former Bay City Official Joins RACER Trust Team
6/22/2012 - 'Rosie the Riveter' Bomber Plant in Michigan for Sale
6/21/2012 - Ex-GM Plants for Sale; Must Create Jobs
6/21/2012 - AnnArbor.com: Open House Showcases Former GM Properties
6/21/2012 - Forbes, Jalopnik.com highlight RACER
6/21/2012 - Detroit Free Press: RACER Trust Has Prospects for Buick City Property
6/20/2012 - Detroit News: 'Old' GM sites put to use
6/20/2012 - RACER Event Focused on Jobs, Redevelopment Draws More Than 200 to Willow Run
6/19/2012 - RACER Trust Open House Wednesday at Willow Run Features U.S. Government’s Jay Williams, Mathy Stanislaus
6/12/2012 - Mathy Stanislaus, EPA Assistant Administrator, to Participate in RACER Trust Open House June 20
6/7/2012 - Jay Williams is the Featured Speaker at June 20 RACER Open House
5/10/2012 - RACER Trustee Elliott Laws Presents at Federal Reserve Bank Conference "Reinventing Older Communities"
2/14/2012 - RACER Trust's Bruce Rasher named Chairman, President and CEO of National Brownfield Association
2/13/2012 - Spotlight: Anderson Plant Lighted the Way For GIs
2/8/2012 - RACER's Bruce Rasher appears on Green Sense Radio Show
1/17/2012 - RACER Trust Honors Brandenburg Industrial Service Co. for Safe Work Performance at Massena Site
1/16/2012 - Spotlight: From Red Brick Factory Walls to Golf Course Green
12/26/2011 - Flint Journal reports: Multiple companies discussing buying part of Buick City
12/8/2011 - NY Times Story: Developers Revive Closed Auto Plants
12/8/2011 - Spotlight: Syracuse Industrial Powerpark - From Parts To Multi-Manufacturing
12/5/2011 - RACER Trust Engages Tetra Tech to Continue Ontario Property Cleanup
11/3/2011 - Former White House Aide Joins RACER Trust Team
11/1/2011 - Industrial Contractor Buys Former
GM Facility in Pontiac to Expand Operations
10/24/2011 - RACER Official to Lead National Conference Panel on Investment Opportunities
10/12/2011 - Spotlight: Ewing Plant Built Avenger Bombers
9/13/2011 - Spotlight: Rosie the Riveter Worked at Willow Run
8/12/2011 - Massena Incident Won't Slow RACER Progress
8/9/2011 - Crain's Detroit Business Profile of RACER Trust
7/25/2011 - Former GM Property in Pontiac to be Redeveloped
7/8/2011 - MEDA Annual Meeting
7/6/2011 - RACER Sells Facilities in Ohio, Michigan
6/28/2011 - Former MI Official Selected for Key Role at RACER
6/20/2011 - Veteran Economic Development Leader Directing RACER Redevelopment Initiative
6/20/2011 - Rasher to address Michigan Economic Developers Association Conference
6/13/2011 - RACER Participates In Mayor's Automotive Coalition Webinar
5/10/2011 - Bruce Rasher Provides Expert Analysis
4/29/2011 - Important Announcement Concerning Environmental Contractors
4/5/2011 - Laws Presents at Brownfields
3/31/2011 - RACER Trust Formation Announced
10/20/2010 - US: Settlement with GM on Environmental Liabilities
10/20/2010 - US Settles With GM on Environmental Liabilities
10/20/2010 - White House Announces Trust to Cleanup and Repurpose 89 Former GM Properties