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Foreclosure Plans Pulled for $350M Project

DETROIT-Made in Detroit Inc. chairman and chief executive officer William T. Merriweather says a settlement has been reached to keep 400 acres for a mixed-use residential and golf course development.

By Robert Carr | Updated on May 20, 2002

DETROIT-Made in Detroit Inc. has reached a settlement agreement with Standard Federal and Bank One, halting a foreclosure sale of property for the developer’s $350-million mixed-use development. William T. Merriweather, chairman and chief executive officer of Made In Detroit, says the company will introduce the participating builders of Gibraltar Bay in the future.

He did not divulge the terms of the settlement, but says plans call for construction to begin this summer with model homes open by spring 2003. The company wants to build a 160-home residential project and a golf course on 400 acres in the area of Humbug Marsh in Gibraltar, in the Downriver area of metropolitan Detroit.

The piece of land was formerly used as a dump and for duck hunting. Resident protests held up the project, and a dispute with the Army Corps of Engineers made the company leave 3.9 acres of wetlands alone.

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