The deal has closed in the purchase for the former Ainsworth Lumber mill in Grand Rapids.
The Itasca Economic Development Corp. completed the purchase Dec. 15 for about 400,000 of square feet of industrial space on 223 acres. The price was not disclosed.
We reported the pending deal Nov. 10, but details in the agreement needed to be worked out.
IEDC plans to transform the site into the Itasca Eco Industrial Park for up to 10 small businesses. The repurposing of the former oriented strand board mill will cost up to $5 million. The work will include demolition, retrofitting, possible environmental remediation and marketing.
Funding will come from public and private sources.
The purchase of the site came from the Grand Rapids Area Community Foundation, IEDC and an anonymous donor, who wants to replace the lumber mills employment.
The mill employed up to 190 workers, but was closed in 2008.