Makeovers of two former Ford plants could be a $500 million-plus undertaking
Michelle Jarboe
The 195-acre former Ford Motor Co. plant property in Brook Park is slated to be redeveloped by a joint venture between Weston Inc., the DiGeronimo Cos. and Scannell Properties.
A developer trio set to buy two former Ford Motor Co. plants in Greater Cleveland says remaking the massive properties could be a $500 million-plus endeavor.
Executives from Weston Inc., the DiGeronimo Cos. and Scannell Properties confirmed in interviews with Crain s that they re closing in on the automaker s shuttered operations in Brook Park and Walton Hills.
Through a joint venture, the developers recently firmed up the 195-acre Brook Park deal, which is set to close in mid-May. They re still conducting due diligence on the 111-acre Walton Hills property, with hopes of consummating that purchase later this year.
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