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DUNDEE, MI-A developer has announced plans for a 750-home subdivision on more than 240 acres in Dundee, MI, near a new $500 million DaimlerChrysler engine manufacturing facility.The development will cost about $150 million to build, said Andrew Milia, president of Franklin Property Group. It will be called Arbor Chase.

“Most of the homes will be single family, though there will be some condominiums built,” Milia told GlobeSt.com. His company is assembling the proper authorization from the community, and plans to sell various parcels to builders.

“We hope to get approvals by the village this year, and start construction next year,” Milia said. “We’ve been through a couple of Planning Commission meetings, and are in the preliminary design stage.”

The full construction of the development will take about five years, he said.The company bought about 300 acres for the development, and sold 65 acres to Global Engine Alliance, a joint venture between DaimlerChrysler, Hyundai and Mitsubishi. The alliance plans to build a 450,000-sf manufacturing facility on about 260 acres of adjacent land.

The Arbor Chase property was formerly farmland, Melia said. The project will be the first planned unit development in the community.”It’s a great location,” Melia said. “It’s about 15 minutes from Ann Arbor, Monroe and Toledo, Ohio.”

Of course, the German-based automaker is building a plant nearby, and the assumed influx of suppliers will add to the subdivision’s attraction, Melia noted.Finally, the village already is its own draw, he said.

“Many developers, they try to build a community and a surrounding village,” Melia said. “We already have a beautiful area in place for new residents.”The planned development is also close to Cabela’s, a sporting goods megastore that has become one of the state’s most popular tourist attractions.

The new homes will sell for between $150,000 to $350,000, Melia said. His company is partnering with Noble Realty of Farmington Hills on the venture.

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