La-Z Boy sells Monroe property to city for $1
Site to be cleared to prepare for commercial and residential development
MONROE, Mich. – On Friday, La-Z-Boy and the City of Monroe announced the conveyance of the site of the former La-Z-Boy world headquarters to the City of Monroe.
The city describes the move as another demonstration of the longstanding and continued commitment of La-Z-Boy to the community in which the company was founded in 1927.
In 2015, La-Z-Boy finished its new world headquarters, also in Monroe, a move that represented a reported $66.4 million in new capital investment creating over 100 new jobs and retention of 435 existing jobs.
The City of Monroe will demolish the existing 250,000 square foot structure in spring of 2020 to clear the entire 26-acre site to begin implementation of a subarea plan the City created earlier this year.
The overall redevelopment plan calls for a combination of retail and residential development, along with the necessary infrastructure. The city is currently working to finalize an agreement with a private party to redevelop the site.
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