NorthPoint Development and the City of Fairfield Announce Plan to Develop Fairfield Trade Center Project with Assistance Provided through JobsOhio and REDI Cincinnati OSIP Grant
CINCINNATI – March 13, 2024 – NorthPoint Development and the City of Fairfield announce plans to develop the Fairfield Trade Center. The project will consist of approximately 618,000 square feet in two speculative buildings of industrial speculative Class A space on the development site. The project is supported in partnership with JobsOhio and REDI Cincinnati through the JobsOhio Spec Development Grant (OSIP) program.
Commercial real estate operating firm NorthPoint Development purchased the property in May 2023 and completed significant grading of the site and property enhancements to allow for development. The Fairfield Trade Center site comprises 77 acres in Fairfield, Ohio, supporting manufacturing, automotive, logistics, distribution and e-commerce. Upon completion, the project will fill a need for Class A industrial space over 100,000 square feet in the Cincinnati region.
“The site presented an extraordinary opportunity to transform a once-deemed unusable piece of land into a coveted Class A industrial site, addressing a real need in the market,” said Kevin Donnelly, vice president of project management at REDI Cincinnati. “The partnership with the City of Fairfield, JobsOhio and NorthPoint allows us to bring creative solutions for businesses to grow and relocate to the region.”
The project is supported in part with a $1 million JobsOhio OSIP grant. The OSIP program provides grants and low-interest loans to support speculative sites and building development projects with no identified end user. The primary goal of OSIP is to fill gaps in Ohio’s real estate inventory, with real estate targeting near-term sector wins to ensure the state is more competitive for reactive site selection projects.
“We appreciate the support of JobsOhio and REDI Cincinnati towards Fairfield Trade Center,” said Mitch Rhodus, Mayor of the City of Fairfield. “This project will attract new companies and job opportunities on a site challenged with the existence of floodplain, wetlands, and wet soil conditions.”
“The development of these 77 acres provides essential inventory needed to ensure Ohio and Butler County can better compete and win new investment,” said JobsOhio President and CEO J.P. Nauseef. “The new speculative footprint at the Fairfield Trade Center will establish more than 600,0000 square feet of Class A industrial space that can attract jobs and business as soon as early Summer.”
“We are extremely grateful for REDI Cincinnati and JobsOhio and their focus on attracting business investment to Ohio,” said Tim McElroy, regional vice president at NorthPoint Development. “The OSIP program from Jobs Ohio helps activate challenging sites such as the Fairfield Trade Center land to productive use. NorthPoint is proud to partner with the City of Fairfield, Butler County Port Authority, JobsOhio, and REDI to grow our portfolio in this market.”
The project also received a partial property tax abatement from City of Fairfield and is in a tax incentive financing (TIF) district.
The Fairfield Trade Center is scheduled to be completed in May and ready for occupancy in June.
Recent regional OSIP projects include The Foundry, a renovation of the former Macy’s department store, featuring a 230,000-square-foot mixed-use building with 200,000-square-foot office space and 30,000-square-foot ground-floor retail, and the City of Trenton will improve an additional 149 acres at the Trenton Industrial Park.
Communities or businesses interested in learning more about OSIP are encouraged to contact Andrea Pinho, REDI Cincinnati director of sites & real estate (apinho@redicincinnati.com).
About REDI Cincinnati
The Regional Economic Development Initiative (REDI) Cincinnati is the first point-of-contact for companies locating or growing in the 15-county region at the heart of southwest Ohio, northern Kentucky, and southeast Indiana. REDI Cincinnati is supported by top business leaders and community partners and staffed by a team of economic development experts who are uniting the Cincinnati region to compete globally.
The future is bright, and we’re building it, right now. Join us at REDICincinnati.com.
About JobsOhio
JobsOhio is a private nonprofit economic development corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention, and expansion. The organization also works to seed talent production in its targeted industries and to attract talent to Ohio though Find Your Ohio. JobsOhio works with six regional partners across Ohio: Dayton Development Coalition, Ohio Southeast Economic Development, One Columbus, REDI Cincinnati, Regional Growth Partnership and Team NEO. Learn more at www.jobsohio.com. Follow us on LinkedIn, Twitter, and Facebook.
About NorthPoint Development
Established in 2012, NorthPoint Development is a privately held real estate operating company specializing in developing, acquiring, leasing, and managing Class A industrial and multi-family properties. We invest alongside our partners through various fund and venture structures to develop and acquire industrial and multi-family assets. We differentiate ourselves with a data-driven approach to site acquisitions and a high level of technical expertise in engineering, architecture, and construction. Through our in-house suite of services, NorthPoint can provide end-to-end expertise, leading to expedited solutions. We continue to operate with an entrepreneurial spirit guided by our Core Values, enabling us to deliver exceptional results for our team members, clients, and partners. NorthPoint currently has a 149.9 million square-foot industrial portfolio, 5.4 thousand multifamily units developed and managed, and $19.2 billion in assets under management. Visit beyondthecontract.com or follow @NorthPointDev to learn more.
About City of Fairfield
Fairfield covers 22 square miles in Southwest Ohio just north of Cincinnati with 44,000 residents and more than 1,200 corporate, retail, service, and light industrial establishments. For more information, visit www.fairfield-city.org, and like or follow us on Facebook, Twitter and Instagram.