Project Description

Corner@Drake

PROJECT OVERVIEW

Historically this property consisted of forty parcels of land (approximately 39 acres) that made up a residential neighborhood at the northwest corner of Drake Road and Stadium Drive in Oshtemo Township. Many of the houses in this neighborhood had been moved to this location over 50 years ago and had passed their useful life. In support of redevelopment, the forty parcels were consolidated into two larger parcels, which were both identified—along with the supporting infrastructure—as functionally obsolete by the Oshtemo Township Accessor.

The new development, Corner@Drake, is anchored by a 150,000-square-foot Costco store and a 50,000-square-foot Field & Stream outdoor store. The remainder of the development includes lending institutions, restaurants, retail stores, and the much anticipated Trader Joe’s grocery store. Eligible costs incurred on this project by the developer included a Baseline Environmental Assessment (i.e., Phase I ESA) and various demolition activities including asbestos surveys and abatement, the demolition of residential structures and infrastructure, and the removal of debris. When the remainder of the commercial structures are built, the project will ultimately result in an investment of approximately $70,000,000 and the creation of over 600 new jobs. This project transformed an urban gateway location from an obsolete and blighted residential neighborhood into a premier commercial redevelopment.

PROJECT STATISTICS

Project Investment:
~$70,000,000

Property Area:
~39 Acres

New Jobs:
>600

Funding Sources:
EPA Brownfield Assessment Grant Gesmundo, LLC
Tax Increment Revenue

Project Partners:
Oshtemo Township
KCBRA