A new business park will be ready to break ground this spring in Sturtevant now that trustees have approved a 10-year financial incentive package for the park’s developer.
The new park lies northwest of the intersection of Highways H and 11, just west of the Renaissance Business Park.
In a deal approved unanimously Tuesday, Ashley Capital will recoup up to an estimated $650,000 in tax rebates as long as the park reaches certain occupancy benchmarks, a story in The Journal Times reads.
The developer will get back 50 percent of its property taxes once the park if 50 percent full or 36 months after it is mostly complete.
A first building measuring 374,000 square feet is expected to break ground this spring; additional buildings are also planned for the land that will eventually total over a million square feet of space for commercial and industrial uses.
The parcels that make up the new business park were initially located in both Sturtevant and Mount Pleasant, but a deal that exchanged land for sewer and water connections for a potential new development in Mount Pleasant puts all the land in Sturtevant.