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$500-Mil Mixed-Use Project Proposed for Troy

TROY, MI-A New York developer wants to tear down the fully leased, tallest building in southeast Michigan and replace it with a large, mixed-use property. The building owner, initially not interested in selling, is having second thoughts.

By Robert Carr | Updated on August 02, 2001

TROY, MI-A New York developer wants to remove a fully-leased, 26-story office building to add to the 16 acres of planned theaters, condominiums, restaurants, office buildings, a hotel and entertainment facilities The Top of Troy office building, the tallest structure in the hottest office market in southeast Michigan, would be torn down in a New York developer’s plan to change the popular corner of Big Beaver Road and I-75 into a large mixed-use property.

Eric Castro, a developer with New York City-based Endeco International, has already started talks with Troy officials about constructing a 1.5 million mixed-use facility on 16 acres east of the Top of Troy, according to Mayor Matt Pryor. The development would have offices, retail, condominiums, a hotel, restaurants, and possibly even entertainment venues such as a movie theater or other uses. It would cost about $500 million, and could even include a performing arts center and conference center, two projects the city has been considering placing on city-owned land across the street, Pryor says.

The mayor says if the city could use the public land for more public uses, it would be a relief. “If someone wants to develop those two projects privately on their own, that ‘s great by us,” he notes. Castro has talked about buying the 26-story Top of Troy building, adjacent to the 16-acre property, to expand the project.

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