September 9, 2005

New Homes, Families Will Replace Abandoned Factory

LANSING – Governor Jennifer M. Granholm today joined state, county, and city officials in Wyandotte to celebrate the redevelopment of the contaminated former site of the McCord Corporation manufacturing facility into a new mixed-use residential neighborhood.  The project, to bolster the community and improve the quality of life for its residents, results from a state brownfield tax incentive approved by the Michigan Economic Development Corporation (MEDC).
 
“This project will transform contaminated land into quality new homes and a wonderful place for families to live,” Granholm said.  “It is another example of how efforts to revitalize our core cities and eliminate the barriers to development are spurring new growth and creating jobs.”
  
The Labadie Park Neighborhood, located at the intersection of Labadie and 2nd streets, will be comprised of 92 market-rate homes, including townhouses, terrace apartments, and three sizes of single-family units.
 
In April, Granholm announced a $1 million brownfield Single Business Tax credit for Labadie Park LLC to help with the cleaning and removal of hazardous materials from the 7.3- acre site.  Over the past few months, the abandoned factory has been demolished, and the site tested and certified as meeting quality standards for unrestricted residential use.  The city of Wyandotte agreed to assist the project with repayment of a $988,500 federal Brownfield Cleanup Revolving Fund loan.
 
“This new neighborhood would not have been possible without the critical assistance provided by all levels of government, including the MEDC,”  Labadie Park Development Managing Partner Arthur Nusbaum said. 
 
“Michigan’s brownfield program is an extremely vital economic development tool,” MEDC President and CEO James Epolito said.  “It allows the state to work aggressively with local governments and businesses to clean up, redevelop, and reuse blighted and obsolete properties to create new jobs and stronger, more vibrant communities.”

In her 2005 State of the State Address, Granholm emphasized the importance of making 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 60,000 jobs as a result of targeted assistance provided by the MEDC.
 
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life. 

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