Hazel Park Raceway redevelopment gets $21.44 million in brownfield financing
The Michigan Strategic Fund board approved the measure for New York City-based Ashley Capital’s redevelopment Tuesday.
The second phase of the Tri-County Commerce Center project is slated to bring a pair of new manufacturing, distribution or warehouse buildings to the remaining 95 acres of the racetrack site totaling about 1.49 million square feet: One about 650,000 square feet, the other 840,000 square feet, according to an MSF board memo.
The track at the southwest corner of 10 Mile and Dequindre roads closed in April after 69 years and a long streak of losing money, including at least $1 million annually before the switch from harness racing to thoroughbreds in 2014.
Posted By: Crain’s Detroit Business on November 27, 2018. For more information, please click here to read the source article.
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