"I think it's a key (site) not only in Downtown district, but in the entire city," DDA director Gina Cavaliere says. "We feel it's a very fair price."
The property has an assessed value of $2.3 million, or true-market value of just more than $4.6 million, city records show. The owner of the strip mall is Gould Investors Trust, according to city officials and tax records.
A key aspect of the Majestic Plaza tentative deal involves the Macomb County Health Department and the state Family Independence Agency. Both offer services out of the Macomb County Satellite Building located in the Warren Civic Center about a mile north. That structure sits in the middle of city-owned property slated as the future home of a new Warren city hall, main library and municipal parking structure.
The two government agencies will move into vacant stores in the strip mall. The Health Department is slated to move into the former Joann Fabrics store that has move than 17,000 sf. The FIA is expected to move into more than 23,000 sf of retail space formerly occupied by F&M.
Representatives of both departments have visited the site and "they think it can work," Cavaliere reports.
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