A prominent office property will be coming down across from Somerset Mall. Demolition could start at the former Kmart headquarters at Coolidge Highway and Big Beaver Road this September.
The city of Troy announced they've received a demo permit and they're working with Adamo Demolition on the project. Fencing is currently up around the site and demo could take 9-12 months.
The property is owned by the Forbes/Frankel Troy Ventures, which also owns Somerset. This is not the first time this property has been up for redevelopment; it was part of a much larger plan in 2008 when the recession hit.
“Demolition of this tired asset is the first step towards redevelopment of this prominent location,” said Brent Savidant, Community Development Director. “It is important to stress there will be numerous opportunities for public input once a development application is submitted for this property. The process starts with demolition.”
The Detroit Free Press reports that the 1972 headquarters were designed by Smith, Hinchman & Gryllis Associates. The property sold to investors in 2006 for $41.5 million, then to Forbes for $17.5 million in late 2009.
