Schostak and Danou had previously been working as competitors on a possible development plan. The two companies will now collaborate on Schostak's previously announced proposal for a $300-million, 386,000-sf International Automation Center. Pontiac Mayor Willie Payne says the plan may work out well for the city, which owns the facility. "That merger addresses residential, business, technology and has a component for a civic center or a conference center and hotel," Payne says.
The development team wants to use the Silverdome building to create a Pontiac Towne Center that is part industrial park and part retail center, with six restaurants and a recreation center. The dome would be removed and rebuilt to accommodate a 300-room hotel.
Schostak is offering $18.5 million for the 127-acre site. Schostak President Robert Schostak says merging Danou with Schostak's team was good for business and community relations.
Danou had proposed replacing the dome with a $440-million project that would include a convention center, hotel, stores, offices, theaters, housing and aquarium.
A third developer is also in putting forward a plan for the Silverdome. Etkin Equities has proposed demolishing the Silverdome and developing 20 to 22 buildings with 1.5 million sf for a high-tech research office park. It would include a small amount of retail space and some restaurants and would cost $200 million.
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