The developers are Paul Henderson and Guy Rizzo. They are working with De Stefano and Partners in developing designs for the project. City Manager Mark Wollenweber says the project is still early in the design stage, and conceptual representations indicate it would cost $500 million to build.

He tells GlobeSt.com the planning commission will meet Oct. 22 to review the master plan. A similar meeting will be held Nov. 18 for the city council. The two bodies must approve the plans for it to get off the drawing board.

Wollenweber says the city sees the project as a great long-term investment.

"We think, many years from now, it will be a good facility," Wollenweber says. "It will bring more people, and with it, more money."

He says the city of more than 61,000 residents needs funding, money that would come from residents moving into the city. The Macomb County community of more than 11 square miles is more than 93% residential property, he says, with not much hope of garnering more commercial development.

"State and federal funding would increase with a higher resident count," Wollenweber says. "It would bring significant value to our bedroom community."

He says it's hoped more projects will follow City Place. The city has been working on redevelopment for many years, he adds, including the area known as the Nautical Mile, between Nine Mile Road and Jefferson Avenue.

Boat storage space will probably be lost, Wollenweber says, but boat wellsfor about 800 craft will remain.

The new development will also include walking and bicycle paths and a park near the shore.