Turning Old Auto Plants Into Gold

Norwood, Ohio lost 4,000 jobs and gained an empty industrial site back in 1987 when GM left town. "In the long run, it was the best thing that ever happened," says Mayor Tom Williams.
November 14, 2009, 1pm PST | Tim Halbur
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Norwood could be a model for many towns facing plant closures today. The city was able to attract Cincinnati-based Belvedere Corp. to turn the land into a mixed-used project.

"Belvedere's $100 million Central Parke project launched a metamorphosis of the city, from a blue-collar, factory-driven locale to a town with elegant workspaces. Completed in 1997, Central Parke provides 320,000 sq. ft. of office/flex space and 200,000 sq. ft. of retail space.

The old automotive site attracted 80 businesses and 1,000 jobs, according to the city."

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Published on Thursday, October 1, 2009 in National Real Estate Investor
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