About half of the property will be a 232,000-sf Wal-Mart anchoring a shopping plaza called The Shops at Cambridge Crossing. The other half will hold a high-end hotel, a Chrysler dealership and a 16-acre office park.
"These are all build-to-suit buildings," said David Nelson, president of the development firm The Nelson Cos. of West Bloomfield. "We own the shopping center and are co-owners on the other projects."
The company won a consent judgment in 1999 from the city to change the property to mixed-use from industrial after a six-year court battle. Cambridge Crossing will cost $23 million to build, the 150-room Hilton hotel about $16 million and the dealership $4 million.
The business park projects are still in negotiations. One potential tenant said they would pay $200-sf to build a 15,000-sf building, Nelson said.
The Wal-Mart should be completed by November and the rest should be done in late spring, Nelson said. Two upscale restaurants will be part of the Cambridge project, he said.
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