Phase one will begin with the construction of one 200,000-square-foot industrial building located in the northeast portion of the site, behind Slemker Auto on Wolf Creek Pike and A&B Auto on Olive Road.
Phase two of the project would utilize the remainder of the property for up to 480,000 square feet of industrial space within one or two buildings, according to application documents. The number of buildings, and a timeline for this phase of the project, will be determined based on prospective tenant and market demand, according to Chad Downing, executive director of the Trotwood Community Improvement Corporation. This area of the site is now a farm field and adjacent wooded area.
“Phase one is going to be a spec building, so they’re building it without a tenant in hand,” Downing said. “For their following buildings, they’re hoping to build those with an interested party at least filling up 50% of it before building.”
GPG is currently obtaining all necessary construction permits and prepping for site work, with construction estimated to begin within 30 days, Downing said. Phase one is expected to be complete by December of this year.
Phase one construction of the 200,000-square-foot building will cost around $17.5 million, Downing said, adding that this cost could end up higher based on any potential additions or upgrades requested by a prospective tenant.
The city of Trotwood also approved a Community Reinvestment Area (CRA) tax-abatement agreement with GPG, which authorizes the exemption of real property taxes on improvements made to the property.
Downing said the 15-year, 100% tax abatement supports the developer, given increasing costs and labor, and helps the city stay competitive when it comes to attracting new development.
“That will be offset by income taxes, both through the construction costs and also through the new employment that will be located there, plus the less-definable economic impact of having employees shopping and eating within our community, and hopefully choosing to live here, as well,” he said.
As part of the CRA agreement, GPG entered into a compensation agreement with the Trotwood-Madison School District, the Miami Valley Career Technology Center (CTC), and the city of Trotwood.
Any abatements that are 51% and above require the local school districts to provide approval on them, according to Ohio Revised Code. Trotwood-Madison and Miami Valley CTC voted to approve the abatements and in exchange, GPG has agreed to compensate the districts by allocating five student internships each year, four for Trotwood-Madison School District students and one for a Trotwood-Madison student who attends Miami Valley CTC, according to the agreement.
As part of the project, a currently unfinished section of the Five Rivers Metropark bike trail that runs through the site will be rerouted and developed.
“Because it cuts two of the major parcels that they need in half, (GPG), at their cost — which is a generous offer from them — is going to reroute the bike trail just to the perimeter of their property to the south,” Downing said. “The great news is we’re not going to lose that amenity for the community or have to redirect it in a significant way.”
That section of the trail will then be given to the city and Five Rivers Metroparks via an easement for continued maintenance and upkeep.
“This development will attract investment and create living wage jobs for the community,” said Trotwood City Manager Quincy Pope Sr. “It definitely puts this community in a comparative and competitive advantage in the region.”
Mayor Mary McDonald said Trotwood is “experiencing a renaissance” with new development.
“We are answering challenges the northwest corridor has had need of for some time with this project” she said. “Our community has the opportunity to be a part of meeting the need for logistic concerns, while creating the opportunity to compete for job growth and attainment for our citizens and those in surrounding areas.”
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