April 10, 2019

TIF Will Support 196-acre Industrial Project on Southeast Side

312.744.9267

A new Southeast Side industrial complex will employ approximately 1,300 permanent and temporary workers through $52 million in Tax Increment Financing (TIF) assistance approved today by City Council.

Planned by NorthPoint Development for 196 acres of vacant land near 116th Street and Avenue O, the $169 million facility will include six buildings from 215,000 to 600,000 square feet. The 2.26- million-square foot complex will house up to 10 different companies, including manufacturing, assembly, and distribution tenants.

The TIF assistance will help pay for infrastructure upgrades, environmental remediation, roadway improvements to Burley Avenue and 122nd Street, and other eligible project costs through a redevelopment agreement with NorthPoint. Funding will be generated by the 263-acre 116th/Avenue O TIF District, which was designated in October 2018 to support the redevelopment of vacant land that was used for steel manufacturing from 1901 to 2001.

The complex is expected to create 660 permanent and 650 temporary construction jobs. The TIF assistance will be provided following project completion and be subject to ongoing occupancy, employment, and other requirements.

 

# # #

 News Release Facts

 I Want To