I am so excited to hear that Carlisle Tire and Wheel is about to be sold and then torn down to make way for redevelopment of the property. Currently, the article mentions a medical arts building as the main choice and that is fine choice in my book. It brings new business and is a nice addition to the Northwest neighborhood.
From the Sentinel:
The former Carlisle Tire and Wheel plant is under contract to a New Jersey-based developer that plans to raze the building, recycle the steel and scrap and build a 25,000-square foot state-of-the-art medical arts building.
Brad Maurer, developer for RE Invest, said Tuesday the company has formed a limited liability company – called RE Invest Tire and Wheel Renewal LLC – which will officially purchase the 10-acre site from Carlisle Companies, the North Carolina-based corporation that owns the building.
“We signed an agreement with them in September,” Maurer said. The initial closing date was scheduled for Friday, Oct. 28, but has been delayed until November because of title issues.
“They’ve got our earnest money, we’re buying,” he said.
Once RE Invest acquires the property, it will convey the property to the Cumberland County Redevelopment Authority, which will make it eligible for state funding for clean-up under the industrial site re-use plan, Maurer explained.
The redevelopment authority will own the site and RE Invest will manage it. Once the environmental clean-up is complete, it will be conveyed back to RE Invest, according to Chris Houston, authority executive director.
The company could receive up to $1.2 million for the clean-up, but the exact amount is unknown.