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TROY, MI-A New York developer wants to remove a fully-leased, 26-story office building to add to the 16 acres of planned theaters, condominiums, restaurants, office buildings, a hotel and entertainment facilities The Top of Troy office building, the tallest structure in the hottest office market in southeast Michigan, would be torn down in a New York developer’s plan to change the popular corner of Big Beaver Road and I-75 into a large mixed-use property.

Eric Castro, a developer with New York City-based Endeco International, has already started talks with Troy officials about constructing a 1.5 million mixed-use facility on 16 acres east of the Top of Troy, according to Mayor Matt Pryor. The development would have offices, retail, condominiums, a hotel, restaurants, and possibly even entertainment venues such as a movie theater or other uses. It would cost about $500 million, and could even include a performing arts center and conference center, two projects the city has been considering placing on city-owned land across the street, Pryor says.

The mayor says if the city could use the public land for more public uses, it would be a relief. “If someone wants to develop those two projects privately on their own, that ‘s great by us,” he notes. Castro has talked about buying the 26-story Top of Troy building, adjacent to the 16-acre property, to expand the project.

Kojaian Cos. of Bloomfield Hills owns the building. Jeanine Mixdorf, a Kojaian marketing director, had initially said her company was not interested in selling it. However, she agreed Monday that that is no longer her direction, and indicated there have been talks between the developers. “I can’t comment on what is happening right now,” she tells GlobeSt.com. “That building is great for us, it’s pretty much always full.”

Pryor agrees that the Top of Troy building, which has an all-glass façade that dwarfs the I-75 highway, has been a good draw for the area, adding that the original 16-acre project, dubbed Carlton Center, is still firmly in the discussion stages. “Castro needs quite a few variances, and maybe we could talk about some sort of planned unit development,” Pryor says. Ron Sloan, one of the owners of the 16 acres, says the developer approached the Troy city council about eight years ago about placing two 40-story office towers, a theater and other retail on the site. Those plans were not approved, however. Castro could not be reached for comment.

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