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Sale  complete on former GM site

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Staff Report Updated 12:59 PM Thursday, July 7, 2011

MORAINE — A California developer has completed its purchase of the former General Motors Corp. plant in Moraine.

“The city is delighted the sale is complete,” said Moraine City Manager David Hicks. “IRG is a well-known company with a strong history of success in redeveloping sites, and we expect they will be equally successful here.”

IRG has been poised to close on the property — which the firm has already renamed “Progress Park” — since late April.

The plant was sold to IRG by a trust created by a U.S. Bankruptcy Court to clean, redevelop and sell 89 former GM sites in 14 states. Terms were not disclosed.

GM closed the former sport utility vehicle assembly plant in December 2008, immediately putting about 1,000 people out of work. Many thousands more have worked at the site between Ohio 741 and Kettering Boulevard in past years. IRG has said it hopes to bring multiple tenants to the site who could employ, over time, up to 2,000 people.

The firm’s plan includes paring the current 4.1 million square feet of enclosed building space to roughly half that amount to be spread among what will be four main structures, with room west of Ohio 741 for suppliers to the businesses on the site.

IRG also recently took over the former United Parcel Service hub at Dayton International Airport and intends to purchase buildings for a Cincinnati State branch campus in Middletown.

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