GM's closed Willow Run factory in Ypsilanti Township to host development open house
The real estate trust charged with selling 89 properties in 14 states as part of the General Motors Corp. bankruptcy is holding a development open house on Wednesday at the closed Willow Run factory in Ypsilanti Township, according to a report in the Detroit News.
The 5 million square foot factory on the far east side of the township closed in December 2010 during GM's restructuring. It's one of the largest buildings in the world, spanning 1.25 miles.
The open house is hosted by the RACER (Revitalizing Auto Communities Environmental Response) Trust, which was established in 2011 by the U.S. Bankruptcy Court. Its goal is to liquidate GM's excess real estate. According to the Detroit News: "It expects more than 200 federal, state and local economic development leaders, prospective buyers and real estate developers to attend a keynote address by Jay Williams, executive director of the federal Office of Recovery for Auto Communities & Workers, and a panel to discuss redevelopment possibilities."
Read the full story.
Comments
Joe
Wed, Jun 20, 2012 : 3:10 p.m.
Just to illustrate the tax implications on this property, and the surrounding communities: This property is currently assessed at around $16,000,000, with an estimated property tax of $500,000. If this property were a few miles west into the city of Ypsi, it's property taxes would be $630,000. Thats 26% higher. Now imagine if the 1% income/corporate tax were voted in, as well as the even higher water street millage. Anyone that claims higher taxes do not scare away business, is lying to themselves.
harry
Wed, Jun 20, 2012 : 5:14 p.m.
The interesting part of that is that when Henry Ford built this plant in the 40's for WWII they built it into a y shape. They did this because if they didn't it go into Wayne county which was Democratic and the taxes were higer.
Joe
Wed, Jun 20, 2012 : 2:57 p.m.
great news.
Paula Gardner
Wed, Jun 20, 2012 : 1:50 p.m.
If you click the words "open house" in the article you'll see specifics on the event, which is tailored for a specific development audience - but I can't say whether the general public would be turned away.
Concerned Citizen
Wed, Jun 20, 2012 : 1:30 p.m.
Wow! what a timely story. This event is happening today. What great notice and promotion of the area! You also didn't even put the time and date in your article.
Joe
Wed, Jun 20, 2012 : 2:57 p.m.
Concerned Citizen, Were you planning on purchasing this property?
brimble
Wed, Jun 20, 2012 : 1:06 p.m.
The possibilities do a bit boggle the imagination: perhaps, let's offer Amazon.com a sales tax waiver if they'll make it a distribution warehouse....
harry
Wed, Jun 20, 2012 : 11:54 a.m.
I think they should do what they did with the old packard plant in Detroit for the last 40 years.
Chip Reed
Wed, Jun 20, 2012 : 2:12 p.m.
Your subtle irony is wasted on those who have never been on E. Grand Blvd.