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National industrial site developer eyes local GM properties

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By Thomas Gnau, Staff Writer Updated 11:09 PM Tuesday, June 30, 2009

MORAINE — A developer known for turning around former industrial sites has an apparent interest in Delphi Corp. property near the University of Dayton Arena and is also eyeing General Motors Corp.’s former assembly plant off Ohio 741, Moraine’s city manager said Tuesday, June 30.

But Dave Hicks, the city manager, cautioned that nothing can happen with the property until GM emerges from bankruptcy.

“Everything is on hold,” Hicks said.

Delphi has proposed in bankruptcy court filings selling 56 acres of property around Cincinnati Street to Stuart Lichter’s Industrial Realty Group, also known as IRG. The Downey, Calif.-based company is known in Ohio for its work on a $165 million Goodyear Tire & Rubber Co. headquarters in Akron.

Hicks said Lichter and a partner visited the GM Moraine plant site about three weeks ago. That visit stemmed from an initial phone call in which Hicks was told he could have two minutes on the phone with Lichter.

Instead, the two ended up talking for about 15 minutes, Hicks said.

Hicks expects GM to split into two units — assets that are expected to be productive and assets not expected to be used. Those latter assets will probably include the Moraine plant, Hicks said.

Lichter could not reached for comment Tuesday.

On Tuesday evening, Montgomery County commissioners were to vote on wrapping up an old water main relocation project at the GM Moraine site that’s at least a decade old.

Greg Merrill, Montgomery County water services director, said GM moved a water main at the plant in 1998-99.

The $1 million project was tied to either the building of the plant’s paint line or an expansion of the assembly plant, he said.

Contact this reporter at (937) 225-2390 or tgnau@DaytonDailyNews.com.

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