Posted Mar 29, 2024, 1:08 AM
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Join Date: Aug 2006
Location: Detroit
Posts: 2,470
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U-M to buy slice of former Kmart HQ site in Troy for future medical center
Quote:
The University of Michigan plans to buy a portion of the former site of the old Kmart world headquarters in Troy and build a medical center there for its health care system.
The future Michigan Medicine center would be a sliver of a broader 28-acre development that is envisioned for 3100 West Big Beaver, where the old headquarters stood from 1972 until its demolition last fall.
The U-M Board of Regents voted Thursday morning to approve a tentative $4.4 million deal for 7.3 acres of land at the site. The seller is a joint venture involving the Forbes and Frankel families. It has owned the roughly 40-acre site since 2009.
The Forbes Co., which also owns the nearby Somerset Collection mall, is said to be handling development of the overall site. A company representative declined comment Thursday regarding their grand vision for the location.
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