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DDR/Coventry Unveil $250M Bloomfield Park

BLOOMFIELD HILLS, MI-The joint venture signs an agreement to begin the first 560,000-sf retail phase in Harbor Cos.' 88-acre lifestyle complex.

By Marita Thomas | Updated on September 05, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

BLOOMFIELD HILLS, MI-Developers Diversified Realty and Coventry Real Estate Advisors have formed a joint venture with the Lynn, MA-based Harbor Cos. to develop Bloomfield Park, a lifestyle property within Harbor’s 88-acre master-planned community along Telegraph Road. The first phase of the development will include a 560,000-sf retail lifestyle center with an estimated pro forma coast of approximately $250 million. Phase 1 will also include residential and office facilities, not being developed by these partners.

A DDR spokesman tells GlobeSt.com the land is being cleared now. “We will announce an tenant roster and firm timeline for construction and store openings later this fall,” he says.

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