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Troy council ends older brownfield plan and approves Somerset West redevelopment plan with reimbursement agreement
Summary
The Troy City Council on Sept. 29 voted unanimously to terminate Brownfield Redevelopment Plan No. 5 (Pavilions of Troy) and adopt Brownfield Redevelopment Plan No. 12 for Forbes Frankel Troy Ventures LLC, a project officials say will convert a long‑vacant former Kmart site into mixed‑use space and create a local revolving brownfield fund.
Troy City Council voted unanimously Sept. 29 to terminate the long‑standing Pavilions of Troy brownfield plan and to adopt a new brownfield redevelopment plan for the Somerset West project, a redevelopment of the former Kmart headquarters on West Big Beaver Road.
Developer Nate Forbes told the council the project has already required substantial demolition and remediation work on a property vacant for about 20 years. “We took a major risk in working kind of out of the ordinary by demolishing a 20 year vacant obsolescence building,” Forbes said, calling the planned development a long‑term investment in the corridor.
Attorney Richard Barr of the Hahniglin firm summarized the financial mechanics for the council. He said the site’s current taxable value is about $7,200,000 and that the…
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