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Council Hears $300M Plan for Former Kmart HQ

TROY, MI-The Richardson Development Group envisions up to 600,000 sf of retail, 60,000 sf of office and 200 condos in the project's first phase.

By Robert Carr | Updated on September 25, 2007

TROY, MI-The preliminary go-ahead for the $300-million plan units to replace the former 900,000-sf Kmart headquarters, with up to 600,000 sf of retail, 300,000 sf of office, a 250-room hotel and 750 multifamily units, could come as soon as Oct. 15. The city council will hold a public hearing then to consider the rezoning of the property to planned unit development, which would allow the multitude of uses proposed by the developers, a joint venture of Richardson Development Group and Boorn Partners. New York City-based BlackRock owns the property, purchased from Sears Holding Corp. in June 2005 following the exodus of thousands of Kmart employees to the Sears headquarters in Hoffman Estates, IL.

Though it announced the plan this spring, the joint venture presented its plan for the Pavilions of Troy to the council for the first time on Monday night. The city’s planning commission agreed at its Sept. 11 meeting to recommend the project to the council.

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