By BEX Staff for AZBEX
A potential developer/deal maker has come forward and expressed interest in the KOREPlex site at Baseline Road and State Route 85 in Buckeye.
As first reported in AZBEX, KORE Power has abandoned its plan to build the first lithium-ion battery production facility owned by a U.S.-based company on the 214-acre site and listed the property for sale through JLL. Subsequent reporting showed the company is the subject of a more-than-$10M lien recorded by general contractor Yates Construction stemming from nonpayment for work and materials in readying the site for construction. (AZBEX: Jan. 31; Feb. 5)
Now Independent Concepts, a firm specializing in Opportunity Zone development projects, has expressed interest in meeting with Buckeye officials “to explore an Opportunity Zone development that aligns with the City’s long-term growth vision.”
The site is located in an Opportunity Zone. According to the IRS, the incentive will expire on Dec. 31 of next year.
Independent Concepts’ press release quoted CEO Tammy Cline, who said, “Buckeye has been on a fast track to becoming one of the West Valley’s premier economic hubs. The setback with KORE Power presents a chance for the City to reimagine this site as a thriving, multi-use economic catalyst, and we want to be at the table with city leaders to make that happen.”
It also says, “The City has already invested resources and infrastructure to develop this area, and Independent Concepts believes this investment should not be wasted,” adding, “Independent Concepts is ready to meet with Mayor Eric Orsborn, Economic Development Director Suzanne Boyles, and other City officials to explore how this site can best serve Buckeye’s residents and economic future.”
Cline said, “This is a moment for strategic collaboration. With the right vision and partnerships, we can turn this site into something that benefits Buckeye for generations to come.”
Stargate may be a Possibility
In an update on developments concerning KOREPlex, the Arizona Republic reported Independent Concepts Development Director Tommy Dee has said a rail hub or data center development could be a potential use for the property. Data center uses could be attractive to Stargate, the recently announced artificial intelligence initiative from OpenAI and other partners.
Arizona was one of 16 states specifically mentioned for possible Stargate locations.
The Republic reported Dee said Independent Concepts was expected to meet with Mayor Orsborn this week to discuss possible uses for the KOREPlex site.