Mar 01, 2023
The Metro 94 Commerce Center Redevelopment Project will redevelop approximately 70 acres of former landfill property in the City of Taylor, including the construction of an approximately 531,500 sq. ft. multi-tenant industrial building for light manufacturing, warehousing, and distribution use. The project is expected to result in a total capital investment of $40 million, and when fully occupied, could result in the creation of up to 185 full-time jobs.
The site, located east of Inkster Road, north of I-94, and south of Beverly Road, has been underutilized for decades and will advance the revitalization efforts being made in this industrial area of Taylor. This project returns the site to productive use and helps to build Michigan’s site portfolio.
The City of Taylor Brownfield Redevelopment Authority received Michigan Strategic Fund approval of state tax capture valued at $1,928,439 to be used to reimburse for brownfield-related activities at the site. The city of Taylor is supporting the project through the approval of local tax capture valued at $3,506,845. The project is also requesting $10,690,749 in tax increment financing from the Michigan Department of Environment, Great Lakes, and Energy to assist with environmental eligible activities.
In addition to addressing the blight and contamination, the reactivation of approximately 531,500 square feet of industrial space is critical in addressing the shortage of space in the city of Taylor, metro Detroit, and the state. The project is expected to result in an increase of approximately $10.5 million in the taxable value of the property. In addition, market analysis has repeatedly shown that large, move-in ready sites are in demand. Supporting this type of property remains vital to retaining existing companies in the state as they grow and offers opportunities to attract new companies here to Michigan.
The development entity, Metro 94 Commerce Center, LLC, is an affiliate of Ashley Capital and was created in 2022 for the development of the site in the City of Taylor. Established in 1984, Ashley Capital has a successful track record of utilizing available sites or remedying blighted properties to breathe life back into these sites, often before tenants are even secured to fill them.
