Roughly 25 acres of land that once housed a machine shop and supporting buildings at Heritage Center has been transferred to an economic development organization that finds new uses for former federal property.
The property transfer from the U.S. Department of Energy to the Community Reuse Organization of East Tennessee was celebrated in a Wednesday afternoon ceremony. It’s the 12th transfer from DOE to CROET, and the two dozen acres were signed over to CROET for private-sector use.
Among the speakers at Wednesday’s ceremony were U.S. Rep. Chuck Fleischmann, a Republican whose district includes Oak Ridge, and David Klaus, DOE’s deputy undersecretary for management and performance.
“The reindustrialization program in Oak Ridge has not only been an economic development catalyst for the region, it is saving tax payers millions of dollars as the federal government transfers underutilized assets to the private sector,” Fleischmann said.
The transfers of the parcels, officially known as ED-11 and ED-12, have been in the works for at least a few years. Lawrence Young, CROET president and chief executive officer, said there will some infrastructure improvements to make the property ready for development. Part of the property once housed Building 1401, an old machine shop that has now been demolished. [Read more…]