Developers, city and state officials celebrated the city’s new commercial center in the vacant lot where North Towne Mall closed its doors 17 years ago in North Toledo.
TOLEDO, Ohio – It’s been 17 years since North Towne Mall closed its doors, leaving the North Toledo plot vacant for years.
The city on Thursday celebrated the groundbreaking of the $84.6 million Toledo Trade Center that will be there.
The property, which was sold to Kansas City-based Northpoint Development in October 2021, was attended by city leaders, state officials and developers. Its regional vice president, Mark Warner, said this will be their first project in Toledo.
“This speculative art project fills a void in the city of Toledo. It’s going to bring space to automotive users, distributors, e-commerce distributors, potentially light manufacturing users,” Warner said.
The project is planned to create more than 564 direct and indirect jobs and is expected to generate more than $11.84 million in permanent wages.
Warner said the Toledo Trade Center will offer top-of-the-line, Class-A industrial products and will consist of three buildings of more than 850-thousand square feet on 58 acres and will allow for easy regionalization. and local industry distribution.
Toledo Mayor Wade Kapszkiewicz said the site, abandoned for more than a decade, is another part of Toledo’s industrial growth story.
“Hundreds of jobs, well-paying, union jobs are going to spring up in this field where for the last 15 years, we’ve had nothing but vacant land,” he said.
The land was helped by Ohio’s Brownfield Remediation Project where Ohio’s director of development, Lydia Mihalik, said the General Assembly and Gov. Mike DeWine prioritized $350 million for statewide projects.
Northpointe Development said it officially broke ground on the first building a few weeks ago and that it plans to finish the project by next summer in June 2023.