CHICAGO—The Brownfield Communities Development Company (BCDC), a joint venture between Northbrook-based Hilco Trading L.L.C. and Miami-based developer, The Adler Group, has entered into an agreement with The Revitalizing Auto Communities Environmental Response (RACER) Trust to purchase and develop the former GM Mansfield-Ontario Stamping Plant in Ontario, Ohio.
The BCDC group plans to redevelop the 2.5 million-sq.-ft. facility into a modern, accessible, multi-tenant corporate park. Situated on 266 acres, the building is west of Mansfield in Richland County.
RACER Trustee Elliott P. Laws said, “The agreement with Hilco and the Adler Group sets the stage for a new era of economic vitality on this property. We envision the creation of 1,100 new jobs as a transformative event for the entire region. We are delighted for the Ontario/Mansfield community and for Ohio.”
The GM facility was closed in 2010.
RACER Trust was created to clean up and position for redevelopment properties and other facilities owned by the former General Motors Corp. before its 2009 bankruptcy.