Commercial Development Co. likely won't be the last owner of the former Bombardier plant in Auburn, but it will play an important role in reviving the facility that has been closed since 2006.
The St. Louis-based firm announced Thursday that an affiliate, Auburn East LLC, acquired the Orchard Street property. It is a significant development as local officials have worked for years to find a new use for the site.
Commercial Development Co. has a history of successfully rehabilitating former industrial sites into new uses.
What is Commercial Development Co.?
Commercial Development Co. was founded in 1990 and is a real estate acquisition and development firm, according to its website.
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The firm's focus is on distressed or underutilized properties. Since its incorporation, it has redeveloped more than 50 million square feet on over 300 properties in the U.S. and Canada.
What are the firm's success stories?
There are numerous examples of Commercial Development Co.'s work, including one project that provided a home for the firm.
In 2018, the company redeveloped a brownfield site in St. Louis County for its . The project also included the opening of a Marriott hotel, an apartment complex and assisted living facility.
Other projects include the to support the offshore wind energy industry and the construction of an on the site of a former steel mill in Delaware.
In February, Commercial Development Co. announced the in Reading, Pennsylvania. The firm performed the remediation work at the site, which will now be used as a mixed-use development.
What will happen at the former Bombardier site?
According to a news release, Commercial Development Co. said its affiliate, Auburn East, will "evaluate existing buildings and will retain or redevelop portions of the property based on market analysis and the specific needs of prospective users, with the goal of returning the site to productive industrial use."
Before it closed in 2006, the Orchard Street facility had been in use since 1886. The McIntosh & Seymour Diesel Engine Co. operated there. It later became Alco before the company was acquired by Bombardier.
Mark Hinds, executive vice president of acquisitions for Commercial Development Co., said in a statement that buying the plant "represents a turning point for a property that has tremendous potential but has sat underutilized for far too long."
"Our team is well equipped to reposition this site for its next stage of life, likely to be manufacturing, warehousing or industrial operations," Hinds added.
Government reporter Robert Harding can be reached at (315) 664-4631 or robert.harding@lee.net. Follow him on X @RobertHarding.
Robert Harding
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