EDA gives money to developer
Published 10:50 pm Thursday, January 14, 2010
The Economic Development Authority voted this week to give $390,045 to industrial developer ProLogis as part of an infrastructure agreement. The money was given to the authority from city coffers.
ProLogis owns 81 acres in Northgate Commerce Park, located at the corner of Nansemond Parkway and Shoulders Hill Road. The company made an agreement with the Economic Development Authority when the land was sold that it would receive the money for infrastructure extensions, which would include roads, sidewalks, water, sewer and storm water management, acting Economic Development director Kevin Hughes said.
“When we sold the land, we had worked with them to extend the road,” Hughes said. “It’s everything they’ll need to encourage future development off that road.”
The first phase of the commerce park, opened in June 2008, included three buildings totaling 36,000 square feet and $4.5 million in capital investment. Several tenants already use space in the park.