STURTEVANT — Horizon Retail Construction would build a new, $5 million headquarters and relocate, under the terms of a pending development agreement with the village that will pay the company financial incentives.
Horizon, currently at 1500 Horizon Drive, Mount Pleasant, intends to buy the village-owned property at 9999 E. Exploration Court, Sturtevant, for $200,000. The cost for the approximately 4-acre parcel was calculated at $50,000 per acre.
Horizon does build-outs, remodeling projects, capital improvements, turnkey construction and more for the retail, financial services, restaurant and hospitality markets and in all 50 states.
According to the development agreement, Horizon intends to build a new two-story, 40,000-square-foot headquarters less than a mile west of the company’s existing headquarters, which sits on 10 acres. The project is described in the development agreement as a “high-end office building” and Horizon’s future corporate headquarters.
The Sturtevant Village Board is considering a negotiated agreement that calls for an economic incentive to partially offset Horizon’s cost for the property and induce the company to build. In order to qualify for financial incentives, Horizon must construct a building that is assessed at $5 million minimum, a project expected to create or maintain 120 full-time positions.
The incentive, if all terms are met — including achieving substantial completion of the project next year — would be $18,675 annually for seven consecutive years for a total of $130,725. The incentive will be paid solely from the additional property tax increment the project would create, the development agreement states. The Village Board is scheduled to vote on the agreement on Jan. 16.
Horizon President Patrick Christensen, contacted Tuesday, did not comment, saying the purchase has not yet been made.
Current facility
Horizon constructed its current headquarters in 2008, only a decade before the project planned for next year. The existing four-story, 75,000-square-foot building, which cost approximately $8 million, is a steel, glass and stone structure designed to be a model of sustainability with minimum energy usage and environmental impact.
Last summer the village bought both the vacant 9999 and 10201 E. Exploration Court parcels, both of them near the Amtrak station, from MLG/JLP 20 East Ltd. Partners. The Village Board’s intent was to be able to control how the properties are developed.
Also, developers often ask for free land in order to do a project, and it is often necessary for a municipality to have land to give, Executive Director Jenny Trick of Racine County Economic Development Corp. said at the time.
Current facility
Horizon constructed its current headquarters in 2008, only a decade before the project planned for next year. The existing four-story, 75,000-square-foot building, which cost approximately $8 million, is a steel, glass and stone structure designed to be a model of sustainability with minimum energy usage and environmental impact.
Last summer the village bought both the vacant 9999 and 10201 E. Exploration Court parcels, both of them near the Amtrak station, from MLG/JLP 20 East Ltd. Partners. The Village Board’s intent was to be able to control how the properties are developed.
Also, developers often ask for free land in order to do a project, and it is often necessary for a municipality to have land to give, Executive Director Jenny Trick of Racine County Economic Development Corp. said at the time.
