February 8, 2019
City officials joined with representatives of NorthPoint Development Thursday to break ground on a new $164-million industrial complex that will span 196 acres on the Southeast Side. Combined, the project’s six structures will provide 2.3 million square feet of space to accommodate up to 10 manufacturing, assembly and distribution-oriented tenants.
“NorthPoint is bullish on the 10th Ward, the City of Chicago and the State of Illinois,” said NorthPoint CEO Nathaniel Hagedorn. “We are excited about what is happening here, and we appreciate the opportunity to be part of it.”
Located within South Deering’s Calumet Industrial Corridor, the new campus will be located adjacent to NorthPoint’s existing 2.8-million-square-foot supplier park serving Ford’s nearby Torrence Avenue assembly plant. Separately, Ford on Thursday announced expansion plans at that plant.
The project will be supported with up to $52 million in tax-increment financing . The site formerly held a steel mill, which closed in 2001.
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