X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PONTIAC, MI-A $60-million housing development here will become one of the largest projects in a city that hasn’t seen many new homes since its decline as the seat of Oakland County. Jay Joliat is the man behind the project called Fieldstone Village.

The chief executive officer of The Joliat Group of Cos. of Birmingham, which also owns many restaurants in the Oakland County area, also teams with other local builders on different projects. He’s proposed building 225 new detached condominiums on vacant property at Walton and Giddings roads, close to I-75.

“There will be seven different models, from 1,500-sf ranches to 2,600-sf colonials,” Joliat tells GlobeSt.com. The homes will range from $189,900 to $250,000 each, he adds.

The 91-acre property is mostly old growth and forest, Joliat notes. He adds his project will leave 24 acres of wetlands as green space.”Nearly every lot will back up to woods,” Joliat says.

There’s not many new homes built in Pontiac, an older, automotive-built city that has suffered a decline in the last 60 years. However, Joliat says this property is one of the last large vacant parcels in the urban area of Oakland County, one of the top five richest counties in the US.

“Most of the developments north of this site are either attached or cluster housing,” Joliat says. “This is the largest piece of developable, available land before you hit farmland in the north end of the county and into Lapeer.”

Joliat had planned on building a retirement community on the site, but after intense interest from all age groups was shown after the property was marketed, he says he changed his mind.

“We quickly decided to open it up to everybody,” Joliat says.

He says he’s had nine sales in the first month of marketing. The development of Fieldstone will take two to four years to complete, Joliat adds.

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

Once you are an ALM digital member, you’ll receive:

  • 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

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.