The parking decks are especially needed in the city, a popularnightspot that attracts thousands each week.

|

The DDA sent out a request for proposals to various developersin the area. The RFP's drew four responses, including some alreadyseen in the city.

|

Craig Schubiner of the Harbor Cos. submitted a plan to build a12-story building with 72 units. Schubiner has approval for afive-story, $25-million condominium project on Woodward Avenuecalled Avalon. Residents came out in force against the project,saying it was too tall. The city commission approved it anyway.

|

David Straussberg said his firm, Morningside Group of Chicago,which is about halfway through with building the $50-million MainPlace development Downtown, plans a seven-story building. Theproject would include public and private parking and about 50 loftcondominium units. The project would cost about $7.7 million to$9.5 million, Straussberg tells Globest.com.

|

"We're very enthusiastic about Royal Oak and working in thecommunity again," he says. "We think we're uniquely qualified asthe designated developer. Our achievements are second to none."

|

The two other builders were Talon Development, which hasproposed a seven-story, 24-unit condominium project; and TCDevelopment, which plans a five-story structure with 14 loftcondominiums.

|

The various builders have worked out payment plans for theproperty, including sharing ownership with the city to payment ofmillions of dollars for purchase rights.

|

"The DDA has formed a subcommittee to interview all fourdevelopers," Hedges says. "Those interviews are going to startafter the first of the year.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.