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Holistic Industries to build $20 million medical marijuana grow, retail facility in Madison Heights

A Washington, D.C.-area cannabis company, Holistic Industries, plans to build a $20 million Michigan headquarters in Madison Heights.

The company aims to redevelop the vacant former Fairlanes Bowling hall property near 12 Mile Road and I-75, according to a news release, and build a 65,000-square-foot medical marijuana center for growing, processing and retail. It expects to take 12-18 months to finish, with demolition starting sometime this week.

The shop selling Holistic’s products would open in summer 2020, the release said, and Holistic plans to supply other stores, as well. The architect of record for the project is Birmingham-based DesignTeam Plus LLC.

The facility would be built at 29600 Stephenson Highway. Holistic Industries also operates in California, Maryland, Massachusetts and Pennsylvania.

Madison Heights’ mayor, Brian Hartwell, said in the release that Holistic’s decision to locate there comes as a boost as the city is ramping up its economic development. Michigan’s marijuana industry is “about to explode,” Hartwell said.

“We’ve seen Holistic’s operating model in other locations and the positive impact they have on those communities, which is why we trust them to transform, beautify and revitalize a property that is currently a detriment to Madison Heights,” he said in the release.

Holistic Industries said it would “emphasize” local hiring for its 50 jobs and establish an investment fund called Reaching New Heights to help finance community projects. It did not disclose the amount of the fund.

“Through our partnership with Holistic Industries on the Reaching New Heights investment fund, we have a partner with whom we can address the most pressing needs in the community,” Roslyn Grafstein, mayor pro tem of Madison Heights, said in the release. “From planting trees and other city beautification initiatives to providing cannabis education and community support, Holistic’s investment in our city is a giant step forward in the continued economic development of Madison Heights.”

 

Posted By: Crain’s Detroit Business on December 9, 2019.  For more information, please click here to read the source article.

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