The community has a choice of two plans. "They're basically the same, except one has a little less commercial development, resulting in five acres of residential added on," says city planner Ed Gardner.
The property is located north of 14 Mile Road and east of Orchard Lake Road. Most of the 140 residents that live in the area have agreed to sell their homes to local developers Grand Sakwa Properties and Phoenix Land Development Corp.
Plans have been grand for this property before. A Super Kmart was supposed to be built on the property seven years ago, but the deal fell through. "The area needs some sprucing up," Gardner says. "There's an existing Kmart that has been there for some time, and the area has been neglected. The companies are also going to build some infrastructure, including an internal road that would connect Northwestern Highway to Orchard Lake Road."
Phoenix Land officials said an existing Kmart may be demolished to make way for a new one. They're also talking to representatives of Lowe's and other department stores and restaurants. If the council approves the project next Monday, the developers could begin construction by July, with a completion date sometime in 2003.
Office space in the city has a vacancy rate of about 8.4% out of almost 5 million sf of office space, according to Grubb and Ellis of Southfield. Average lease rates are at $23.75 per sf in the city, the third-largest office market in Oakland County.
Malan Realty Investors of Bingham Farms, MI also is a partner in the project.
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