As reported on wnem.com: By Brianna Owczarzak
FLINT, MI (WNEM) –
An old reminder of one city’s past is making way for its brighter future.
A massive complex once home to an auto parts supplier could be welcoming a brand new tenant and revitalizing an area looking for a big boost.
Phoenix Investors are coming to Flint.
“The Center Street property will be renovated over the next year. We want to attract a high quality distribution type tenant or a manufacturing type tenant,” said Frank Crivello, chairman and founder of Phoenix Investors.
The renovation is happening at the industrial building on Center Road at Robert T. Longway, a portion of the old AC/Delphi property that closed up shop years ago.
The closure meant less jobs and a huge eyesore.
“It helped the unemployment rate go up. It was devastating for all the people that worked there,” said Clarence Campbell, chairman of Eastside Coalition.
The Phoenix Investors group said they are excited to be a part of the city’s future. The group paid more than $3 million for the property.
“Without naming other cities that could have worked, we feel that Flint has gotten a bad rap. That investors have shied away. I can tell you since we have a number of fortune 500 tenants that the demand for space here is high,” Crivello said.