Flint responds to investment firm trying to buy Buick City Complex

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FLINT, Mich. (WNEM) – Ashley Capital, a New York real estate investment firm, has entered into a contract to purchase and redevelop several hundred acres of land in the northeast Flint area.

The land is the former site of Buick City. The city of Flint said it belongs to the Revitalizing Auto Communities Environmental Response Trust (RACER).

The purchase is based on the conclusion of an agreement between RACER and Ashley Capital regarding the environmental cleanup of this property.

“Through our efforts and partnerships, the City of Flint continues to cultivate new opportunities to benefit our community,” said Flint Mayor Sheldon Neeley. “We’ve worked hard to identify opportunities to revitalize Flint’s business sector, and an investment of this magnitude could create thousands of jobs in our community. This is another positive step in the right direction.

“The City of Flint is delighted that Ashley Capital is interested in redevelopment of the former Buick City site. This would be a great opportunity for Flint and its residents. The city looks forward to continued talks and we are optimistic that to this opportunity,” said Samantha Fountain, director of Flint Economic Development.

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