Montrose Group Successfully Advocates for $19.4M in Economic Development Incentives  

Montrose Group successfully advocated for three clients to gain a total of $ 19.4 M from local and state governments for several industrial and mixed-use projects.  Project and incentive summaries for these Montrose Group clients are listed below.

Steelton Holdings LLC is developing The Fort in the southside of Columbus and received a $2,970,094 Cleanup/Remediation grant from the Ohio Department of Development’s Brownfield Remediation Program. Developed in the late 1800s for industrial use, this property was occupied by slaughterhouse packaging companies for the next 70 years. From the 1990s through 2010, the property operated as a transfer facility to collect and accumulate construction and demolition debris. The property is currently vacant and contains a significant amount of buried gypsum and waste that will require excavation and disposal prior to redevelopment. The buildings on the site are inhabitable and are slated to be demolished. Cleanup activities include the removal of hazardous materials and remediation efforts on the site. After cleanup of mixed-use development including 120,000, the property will be redeveloped as square feet of new commercial and restaurants, 33,000squarefeet of maker space and studios, and over 500 units of mixed-income apartments, flats, and townhomes and 50 single-family units.

NorthPoint Development is developing the Toledo Trade Center industrial park in Toledo, Ohio and received a $9,955,326 Cleanup/Remediation grant from the Ohio Department of Development’s Brownfield Remediation Program. This long-abandoned property is one of the largest brownfield sites in the Toledo area. Multiple operations existed on the property, including a mobile home park, a commercial/municipal airfield, and most recently the former North Towne Square Mall. The mall ceased operations in 2003, and buildings on the property were demolished in 2013 and 2014. Remediation on the site includes water, sewer, stormwater, and addressing the arsenic-impacted groundwater. After cleanup, the site will be redeveloped by NorthPoint Development for two state-of-the-art industrial buildings.

Stonemont Financial Group is planning to redevelop a 70-acre site in the southside of Columbus, Ohio that previously was home to the Columbus Steel Castings foundry.  The site has been vacant since 2016. Atlanta-based Stonemont Financial Group plans to redevelop the site with speculative industrial buildings.  Stonemont was awarded a 75%, 10-year real estate property tax abatement estimated to be valued at $6.6 M from the City of Columbus to redevelop the former Columbus Steel Castings site on the southside of Columbus, Ohio.  Stonemont plans to invest nearly $90 M in building three speculative industrial buildings at 2211 Parsons Avenue with the trio of buildings will be 148,000 square feet, 112,000 square feet, and about 600,000 square feet.

Montrose Group congratulates Steelton Holdings, LLC, NorthPoint Development, and Stonemont Financial Group for their recent economic development project financing victories.