Harbor Cos. of Bloomfield Township is the developer. The property near Square Lake and Telegraph roads was supposed to have a 15-story office building, hotel andmultifamily rental buildings, a large movie theater, and other commercialuses built on the site, but the office and 250-room hotel will now be moved into the second phase, said Tina Bassett, a spokeswoman for the project. She said the changes aren't final, but will be presented to a development committee for the project at a meeting July 21.
"Our market studies have shown that we should develop the residential and retail portion first, because of the economy," Bassett told GlobeSt.com.There will be office still in the first phase, however, as there are offices planned for above the retail component, she said.
Other changes include more residential and retail added to the project, and a new public gateway entrance called Pavilion Park. The first phase will hold about 300,000-sf of retail and 350 residential units, Bassett said. She did not elaborate on when the second phase will begin.
Bassett said Harbor hopes to being building by the end of the year. The company has not announced any tenant signings or methods of financing."It will all be announced together, sometime in the fall," Bassett said.
An agreement between Pontiac, Bloomfield Township and Harbor Cos. Wasreached to allow the development to move forward, after more than a year ofa land dispute. A settlement was reached in November.The agreement stipulates that the property will be a part of Pontiac, whichwill share decision-making on development of the site and tax revenues withBloomfield. The two communities entered into an agreement that allows themto transfer property for a term of years, share revenue and governmentservices.
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 anautomatic 50-year renewal. At the end of the term, all voters in both thetownship and the city will decide whether the property returns to thetownship or remains in Pontiac.
Pontiac will provide all governmental and economic development services, aswell as the school district. However, both communities will share taxrevenues, 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 majorthoroughfare. Residential buildings are limited to eight stories, the hotelis limited to eight stories and other commercial buildings are limited toseven stories. All buildings and parking structures are limited to 36 acresto allow for open space.
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