Proposals from Southfield-based Schostak Brothers Co. Inc.; Southfield-based Etkin Equities and Trenton, MI-based Danou Development LLC were selected for further evaluation by a committee of the Pontiac Stadium Building Authority and city. They were among the developers answering a nationwide request for proposals to redevelop the PontiacSilverdome site.
"The review process will probably last at least through January," Shelly Havard, a spokeswoman for the Silverdome, tells GlobeSt.com. "At that time, a project will be selected."
The Schostak proposal includes development of an interactive center featuring 200,000 sf of retail, 500,000 sf of industrial development, a70,000-sf community recreational center, a 370,000-sf automotive exhibit center and hotel, and 300,000 sf of office space called the Pontiac Towne Center. The company is offering to buy the site for $18.5 million, and would spend $300 million to build the development in the next five to 10 years.
The Etkin proposal includes two phases. Phase one would include 873,200 sf for 18 buildings of flex-tech or laboratory buildings, restaurants and a retail center, and keeping the Silverdome intact until all contracted events are satisfied. Phase one would be to demolish the Silverdome and use the 543,000 sf for parking or future tech buildings, possibly 17 new facilities. Etkin gave an alternative proposal, which would be to create a casino gaming complex with retail, restaurants and a hotel. The company says it would purchase the property for about $11.2 million, plus a potential third installment of $1 million if 80% of the land can be absorbed. Etkin officials did not estimate the development cost.
The Danou proposal includes building a 330,000-sf convention center, a 500-room hotel, 74,000 sf of family and adult-style entertainment with a 14-screen theater complex, a 500,000-sf retail mall, 670,000-sf office building, 400 townhomes and condominiums and a 50,000-sf aquarium called "Silverdome World." Danou says it would buy the site for $1 and spending $35 million for site preparation. Development cost would be more than $415 million, the company says.
The 127.5-acre site is surrounded by the cities of Auburn Hills and Rochester Hills, home of many automotive suppliers and the North American headquarters of DaimlerChrysler.
The Silverdome is owned and operated by its own building authority. The authority was incorporated in 1968 by the City to acquire property and to construct the large covered stadium, which cost $55 million to construct.
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