Marysville – Union County Celebrates Launch of Speculative Development
Jason R. Stanford
Union County-Marysville Economic Development
Marysville-Union County Port Authority
Southgate Corporation recently broke ground on a speculative development at 1100 Innovation Way in Marysville, Union County. Site readiness work for the $8.9 million project has already commenced, with an anticipated completion date of Q4 2021. Located within Marysville’s 33 Innovation Park, the development will be comprised of 84,000 SF of multi-tenant Class A industrial and R&D speculative space at 1100 Innovation Way, as well as an adjacent pad-ready site that can accommodate a building of up to 112,000 SF.
In 2016, the City of Marysville acquired a 206-acre property and invested over $7 million to develop the 33 Innovation Park. The City’s goal is to capitalize on the rapid growth of the 33 Smart Mobility Corridor and to attract business expansions from target industry sectors, including manufacturing, technology, research and development, agriculture technology, aerospace and advanced mobility.
More information about the project can be found by visiting: http://www.33park.com/
Housing demand outstrips supply so much that developers can be – and are – very selective about where they choose to invest. Factors like land price, annexation and zoning processes, infrastructure costs, density, and community design specs will make or break a developer’s go-or-no-go decision. This panel discussion will provide insights into developers’ decision-making processes, as well as help direct the focus of local economic developers to those areas in which they can add value in housing discussions.
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