Strathmore real estate professionals continue to focus on the redevelopment of functionally obsolete properties and properties with severe environmental challenges. Having completed several complicated environmentally challenged redevelopments throughout Michigan, Strathmore has commenced evaluating several redevelopment opportunities to fully utilize the newly amended Michigan Brownfield Redevelopment Financing Act. Strathmore's team of real estate professionals understand the complexity of tax increment financing and the remediation measures necessary to resolve environmentally contaminated sites. Tax increment financing can breath new life into obsolete buildings and help communities construct and pay for critical infrastructure initiatives.
Notable Brownfield projects completed by Strathmore include the Heritage Glen Subdivision located in DeWitt Township, Michigan. Heritage Glen remains one one of the area's premier residential housing developments. The project originally faced significant challenges including remediating environmental contamination, protection of high pressure gas transmission lines, and the construction of DeWitt Township's fire station on the site as part of the original Township approval. Then Township Supervisor, Bob Zeeb, remarked at the time "We appreciate the Strathmore Groups willingness to work with DeWitt Township and assist with the construction of a new fire station for the Township".
Woodland Lakes Apartment Community was an especially challenging Brownfield redevelopment because the site was a former landfill and Delhi Township did not have an established Brownfield Authority to administer the Brownfield redevelopment plan. Strathmore's real estate professionals worked closely with Delhi Township to help establish the Delhi Township Brownfield Authority and eventually earned approval to redevelop the former landfill in to what remains today one of the markets popular apartment communities. Tax increment financing was a significant component of the plan of redevelopment.
Similarly, the East Lansing Pointe project involved the demolition of a functionally obsolete building, the remediation of environmental contamination, and the construction of a mixed use commercial project for several national tenants including Firth Third Bank, Biggby Coffee, and other regional commercial users. Tax increment financing was a significant component of the plan of redevelopment. For information how Strathmore Real Estate Group can assist in your Brownfield redevelopment, please contact Jacob Chappelle at jacobc@c-devco.com.
