PPNA Happenings

Happenings, history and news of the Prospect Park Neighborhood and Ypsilanti

Smart Business

Posted by ppna on February 5, 2008

I just finished reading this article, on modeld-media on the Russell Industrial Center in Detroit.  The Russel Industrial Center is a 2.2million sqft building that was built in 1915 for the use of Murry Mfg. to build car bodies.  What has happened to this building is a true success story.   The Boydell Development company took over the space and offered cheap (as little as $3.00 a sqft) month to month space for businesses to set up in.   They give the businesses every opportunity to succeed and don’t impose rules on them or what they can produce.  As of now they have 70leases and expect another 50 to sign on in 2008.  They have everything from worm-farms to internet companies set up in the building.  All of this has been done with no government assistance that means no tax breaks, no grants, etc.  It’s a solid business model that works for everyone involved.

Maybe we should start putting some of our vacant warehouse space to good use.

5 Responses to “Smart Business”

  1. Schutzman said

    This would be a great way to re-purpose the Peninsular Paper Mill!
    Let’s do it!

  2. ppna said

    Don’t you know Ypsilanti likes to knock down and rebuild with apartments?
    There are a couple of buildings not far from the paper-mill site (the old Suds Factory and the building next door)that might make good choices for that type of plan of course there are some good ones on Michigan Ave. too.

  3. Schutzman said

    Sarcasm aside, yes, that complex (on Huron River Drive) would be ideally suited, as well.

  4. Cheryl said

    I like the way you guys think.

    The City could issue bonds in order to buy the old factory on North Huron. They could then develop it. We could call it the Water Street Huron Street Project.

    Sounds like a money-maker to me!

  5. ppna said

    In the article above they pointed out how many Incubators fail because of government involvement it is best to leave them as private business. When done correctly, as the Russell Industrial Center they are a good business model. I know the owner of those two buildings (although I haven’t seen him in awhile) and I’ll run the idea by him sometime. I think we should keep the city out of the real-estate business.

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