Northpoint’s Republic Steel Redevelopment Garners $52M in TIF
NorthPoint Development’s 2.26-million-square-foot transportation, distribution and logistics (TDL) center on the Southeast Side will receive $52 million in tax increment financing (TIF) from the city. Tax benefits for NorthPoint’s redevelopment of the former Republic Steel site, which broke ground in February, were approved by the City Council last week.
The TIF assistance will help pay for infrastructure upgrades, environmental remediation, roadway improvements to nearby Burley Avenue and 122nd Street, and other eligible project costs through a redevelopment agreement with NorthPoint. The TIF will be provided upon completion of the project.
The project is planned to include six buildings ranging from 215,000 to 600,000 square feet, and accommodating up to 10 different tenants. It will complement Kansas City, MO-based NorthPoint’s adjacent, 155-acre supplier park serving Ford’s nearby Torrence Avenue assembly plant, thereby creating one of the largest industrial parks in Chicago.
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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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