A proposed rezoning of the property, from pure industrial to mixed use, would clear the way for the joint venture's Union Ridge project, which is to consist of several hundred thousand square feet of office space, a 38-acre industrial park, a destination shopping center, a hotel and 450 apartments and single-family homes.

The rezone, which would affect a total of 900 acres, is now on its way to the City Council with a stamp of approval from the city's planning commission. A public hearing is scheduled for March 14. If the city council approves the mixed-use concept, the planning commission would then be charged with creating building and design standards for the project, which would eventually end up back at the City Council for final approval.

To convince the city to make the appropriate zoning changes, the companies have put forth figures that show property tax revenue from the built-out project could annually generate more than $800,000 for the city, while a pure industrial development would generate closer to $490,000. For the school district it would mean the difference between $1.2 million and $750,000, they say. On the jobs side, they say it would mean the difference between 25 jobs per acre and eight jobs per acre.