The property is supposed to have a 15-story office building, hotel and multifamily rental buildings, a large movie theater, and other commercial uses built on the site. Harbor Investments alleged in Oakland County Circuit Court that Schubiner only made one payment of $8,821 on the loan, which was to be used on an undisclosed property. Schubinre had used an office building at 2520 Telegraph Rd. and his Birmingham home as collateral.
Tina Bassett of Bassett and Bassett Inc. of Detroit said that the twoparties have reached an agreement. "The issue was completely resolved. There was a personality conflict involved, but they ended up kissing and making up," Bassett told GlobeSt.com.
An agreement between Pontiac, Bloomfield Township and Harbor Cos. Was reached to allow the development to move forward, after more than a year of a land dispute. A settlement was reached in November.
The agreement stipulates that the property will be a part of Pontiac, which will share decision-making on development of the site and tax revenues with Bloomfield. The two communities entered into an agreement that allows them to transfer property for a term of years, share revenue and government services.
According to facilitators George A. Googasian and A. Kay Stanfield Brown, the property will be transferred to Pontiac for a term of 50 years with an automatic 50-year renewal. At the end of the term, all voters in both the township and the city will decide whether the property returns to the township or remains in Pontiac.
Pontiac will provide all governmental and economic development services, as well as the school district. However, both communities will share tax revenues, and will form a joint development council to oversee zoning, planning and land use on the property.
On the site, buildings must be low near Telegraph Road, a major thoroughfare. Residential buildings are limited to eight stories, the hotel is limited to eight stories and other commercial buildings are limited to seven stories. All buildings and parking structures are limited to 36 acres to allow for open space.
Bassett told GlobeSt.com that Harbor is working on a design for the project. "We hope to have something ready in the next 60 days, we're in the middle of doing it now. We hope to be able to present something, but it's still in the works," Bassett said.
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