However, after three years, only the condominiums were constructed. City officials paid $5 per sf for 4.1 acres of still vacant land at the apex of the intersection.

"We had an option that if they didn't begin work on the commercial part of the project within three years, we could buy it back," says Mayor Dennis Cowan.

The condominium buildings are completed, but the sidewalks, landscaping and other surrounding land is bare and unfinished. Condos were built to the north of the property, and to the east across Main Street.

"With the profits of the condominiums, they were supposed to build the commercial property. We're glad they were constructed, but they're still not completed," Cowan says. About $300,000 was kept by the city because of liens on the property, Cowan adds.

A Main Street Centre plan was rejected last year after developers kept asking for more time on the property. It's been reported that a few Vincenti properties are being held due to lack of financing, says city attorney Chuck Semchena.

Cowan says more loose ends need to be tied up before the city decides what to do with the property.

"I hope we get something consistent with the mixed-use zoning down there. We just want to clear up the outstanding issues and move forward," the mayor says.

The property is located at the south end of Royal Oak's Downtown, a popular nightspot in Southeast Michigan, and is directly across from the Detroit Zoo.