Industrial park planned in Lordstown

Staff report

LORDSTOWN

A new industrial park will be developed on 173.5 acres of vacant industrial property adjacent to the General Motors plant.

RACER Trust announced Monday that it reached an agreement with NorthPoint Development on the purchase and development on the property.

When complete, the development is expected to cover 1.5 million-square-feet and employ up to 1,500 people, NorthPoint President and Chief Operating Officer Chad Meyer said.

This is the second property NorthPoint has purchased from RACER Trust, which was created in March 2011 by the U.S. Bankruptcy Court to clean up and position for redevelopment properties and other facilities owned by the former General Motors Corp. before its 2009 bankruptcy, according to the RACER website.

“We are confident the development of the former GM property could breathe more new life into the Valley,” Lordstown Mayor Arno Hill said. “The plan and vision that Chad Meyer has expressed to me for the property perfectly aligns with Lordstown’s interests. We believe a true partnership can be formed to redevelop the property and transform this area of our community into a master planned, Class A modern manufacturing and distribution park.”