Moceri to Break Ground on $46 Million Residential Complex in Auburn Hills
- Sep 12, 2013
A 21.5-acre city-owned property that has been sitting vacant for the past ten years will be turned into a $46 million residential development. According to The Detroit News, the Auburn Hills City Council approved at the beginning of this week a local developer’s plans to replace the site located west of Adams Road, north of the Clinton River Trail and right next to the Forrester Square at Auburn Village Condominiums, into a residential complex that will serve as an eastern gateway to Downtown Auburn Hills.
Construction at the residential development proposed by The Moceri Companies, one of the leading builders in the region, is expected to start in spring 2014. The Parkways, as the project is called, will be built in five phases and will open in 2017. It will include a three-story senior care complex with 160 apartment units located along a new boulevard that, upon completion, will extend to Squirrel Road and Downtown Auburn Hills. The Parkways complex will also consist of 76 townhomes with a total market value expected to reach $75 million and 72 flats surrounded by a two-acre public park.
The development site was previously owned by the Biltmore Corp., which acquired the land in the early 2000s with plans to create more than 800 residential units marketed as the Forester Square Condominiums Complex. However, as reported by Crain’s Detroit Business, Biltmore’s plans had to be scaled down drastically to 25 percent because of the economic downturn.