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Triangle Launches $100M Main Street Project

NOVI, MI-Triangle Development Co. of Southfield will head a retail, entertainment and residential development in Novi's faltering Main Street project, picking up where a foreclosed developer left off.

By Dan Heaton | Updated on July 19, 2004

NOVI, MI-The Triangle Development Co. of Southfield will head a $100-million retail, entertainment and residential development in Novi’s faltering Main Street project. The family business, responsible for launching the upscale retail and condo project, Gateway Village of Novi, will develop the new project on 18.2 acres near Main Street and Grand River.

The lots were foreclosed after a previous developer’s plans failed in the mid-1990s but purchased by Triangle in May. Initial development plans include eateries, cultural and recreational venues, specialty stores, office and hotel space, and a heavy residential component mainly in the form of stacked units or condos on top of retail stores. The area is zoned for dense mixed-use development, with about 105,000 sf of retail space and 20-25 residential units per acre. The developer is conducting a market study to decide on the cost of condos.

Assistant City Manager Clay Pearson says it’s a good time to continue the unfinished project. “It’s a very attractive restaurant area. The projects are there,” he says.

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