RACER Trust, an entity formed to sell excess property from General Motors Co. as part of its 2009 bankruptcy, today announced it has completed the sale of 3.7 acres off University Drive in downtown Pontiac to George W. Auch Co., a 109-year-old general contractor and construction management firm that will build its new corporate headquarters on the site.
AUCH plans to break ground on the project in May, and the company will build a 20,000-square-foot office building with the potential for future expansion. Construction is expected to be completed in March 2018.
AUCH will retain 40 to 50 engineering, construction management, and administrative jobs in the city, in addition to the jobs that will be created during the design and construction phases of the project. The company will move from offices on S. Paddock Street in Pontiac when the construction is complete, and plans to participate in the future redevelopment of the site.
Located at 65 University Drive (northwest corner of University Drive and Woodward Avenue), the property is located at the east entrance to the Pontiac Downtown Business District. The property was once occupied by a Pontiac dealership, and was converted into a GM training center before being demolished.
“This project is a very tangible demonstration of our commitment to current and future generations of AUCH employees who will benefit from the world-class work space being created in this downtown setting,” says Vince DeLeonardis, president of AUCH. “We have been looking for opportunities to expand and become a bigger presence in downtown Pontiac, and this transaction allows us to fulfill that vision and lay a foundation for even more growth in future years.”
Founded in 1908, AUCH has been headquartered in Pontiac since 1985 and currently employs nearly 100 construction professionals and support staff in its management of nearly $150 million of annual volume in the educational, healthcare, and municipal markets.
“RACER Trust looks for reputable, community-minded buyers to help us fulfill our economic development mission, and AUCH certainly fits that description,” says Elliott P. Laws an administrative trustee of RACER Trust. “A company doesn’t stay in business as long as AUCH has without a strong commitment to its employees, its customers, and its community. We are thrilled that the property is in such good hands and look forward to its beneficial reuse.”