MediaGraphicGen5.5×5 Share on FacebookTweetFollow us
Read More
Hazelwood Breaks Ground For TradePort’s First Building
Officials representing the City of Hazelwood as well as other local dignitaries, including State Rep. Gretchen Bangert, Dist. 69, gathered for the ground-breaking event on June 7 for Hazelwood TradePort (HTP).
This new industrial business park, which is one of five in Hazelwood, is a 325-acre development tract with the potential to support up to 4 million square feet of new construction. Located just north of St. Louis Outlet Mall, all the buildings and roads will be elevated above the 500-year flood plain.
NorthPoint Development, based in Kansas City, MO, is the developer. The ground-breaking event marked the first of two industrial buildings to be constructed. The first structure, featuring a ceiling height of 36 feet, is slated for completion in Fall of 2018. Both facilities will total nearly 750,000 square feet. In all, NorthPoint plans to build eight industrial buildings. “The value of the abatement for all eight buildings may be about $55.5 million,” Hazelwood Economic Developer David Cox said.
The Hazelwood City Council played a key role by approving several resolutions that issued approximately $50 million in Chapter 100 industrial revenue bonds which will facilitate up to 18 years of tax abatement. This also includes a sales tax exemption on construction materials.
Hazelwood used tax abatements and other development incentives for NorthPoint when it acquired Hazelwood Logistics Center (HLC) in 2015. At the time, HLC was foreclosed on and in need of environmental clean-up. NorthPoint is credited with resurrecting HLC by completing nine large industrial buildings in three years. Its economic impact to the region consists of 1.9 million square feet of warehouse/office space, the creation of more than 1,817 jobs, and a capital investment of about $109 million.
Recently, the St. Louis Business Journal selected Hazelwood Logistics Center as a 2018 Building St. Louis Award recipient. It was chosen as one of three finalists for the Public/Private Project more than $10 million award category
