Canadian automotive supplier Magna International Inc. has purchased a prime parcel of Novi, Mich., real estate, and city leaders say the company is considering the site for a multibuilding, 600,000-square-foot project.
The 40-acre property, considering its size, may be the future site of Magna's domestic corporate offices or headquarters, city leaders and real estate insiders speculate.
Magna has not announced any such project yet, and company executives have not responded to repeated questions about it.
``My impression is that [the project] is a consolidation of some sort — they have offices all over — and some kind of design studio,'' said Novi Mayor Kathleen McLallen.
Edward Kriewall, Novi's city manager, said the project could involve four to five buildings, totaling about 600,000 square feet.
The Aurora, Ontario-based, publicly held auto parts supplier has not submitted a site plan yet. According to the covenant deed for the Novi property, MI Developments (America) Inc., a wholly owned subsidiary of Magna, purchased the land in September.
Magna officials did not return telephone calls to Crain's Detroit Business, a sister publication to Plastics News.
If Magna develops the property, it would be the second largest plastics-related firm to move to Novi and take advantage of the city's new office service technology zoning. The city created the zone to handle large parcels of land using corporate entities.
The first large company was Bolton, Ontario-based Husky Injection Molding Systems Ltd. Husky is building a plant in Novi to help DaimlerChrysler AG develop an all-structural-plastic-body vehicle, said Trefor Jones, Husky general manager.
``Magna may be doing some of the actual molding of some of the parts for DaimlerChrysler,'' he said.