First Parcel of Detroit House of Corrections in Plymouth Township Sold, Will be Developed into a Technology Business Park
The first parcel, an eight-acre plot, of the former Detroit House of Corrections in Plymouth Township has been sold, according to the Michigan Land Bank Fast Track Authority.
“The sale of this property is yet another step forward in ensuring this once dilapidated property is put back into productive use for the Plymouth community,” says Josh Burgett, director of Michigan Land Bank. “DeHoCo has been an eyesore in the area for years, and with demolition work wrapped up, we’re excited to see the addition of a new development project that will bring a wealth of revenue and jobs to the area.”
The Michigan Land Bank acquired the former correctional facility, known as DeHoCo, in 2015 and has been working with local leaders through the demolition and purchasing process.
Hillside Investments acquired the parcel as part of a larger development at the corners of Five Mile Road and Ridge Roads. The property is slated to be part of the Michigan International Technology Center, a technology business park in the Five Mile corridor in Plymouth Township. Construction is expected to begin this summer.
The Michigan Land Bank Fast Track Authority finalized a development and purchase agreement with Southfield’s Redico in September 2018 for the rest of the site, which covers 120 acres. The land bank continues to work with the developer through the due diligence period that is scheduled to expire on April 23. The transaction is expected to close late this summer.
The site’s buildings were vacant from 2004 through demolition, which began in early 2017 with a $2.2-million investment as part of the land bank’s process to prepare the site for sale and redevelopment.
The Michigan Land Bank’s mission is to create positive economic impact to Michigan communities by recycling land.
Posted By: dbusiness on March 21, 2019. For more information, please click here to read the source article.
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