The Northville Psychiatric Hospital on the property is still open; the state has stipulated that thedepartment will retain the use of necessary buildings and facilities forpatient care until at least 2005, based on need. The state said that paymentfor deferred use of property for the use of the structures on the propertywill be paid to the developer based on a specified amount agreed to by thedepartment of community health and the developer.
The bids, unadjusted for any contingencies and associated costs, includeGrand Sakwa of Farmington Hills, $68.5 million; Pulte Homes of Royal Oak,$70 million; and REI of Bloomfield Hills, $67 million.
"We are greatly pleased by the response," said Michigan Department ofManagement and Budget Director Mitch Irwin said after the bids wereopened earlier today. "We will examine each bid thoroughly and, with theassistance of an expert advisory committee, accept the one that bestrepresents the highest sale and the highest return to the State."
The advisory committee members include a mix of private and public sectorreal estate and finance professionals, he said.
The winning bid will be awarded on the basis of criteria in the State'sinvitation to bid. The criteria includes purchase price, developerqualifications and experience, ability to work with local units ofgovernment and close by Sept. 30, and having enough money.
Irwin said the department will announce the successful bidder no later thanThursday.
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