The site of the former Novi Expo Center at Novi Road near I-96 will be redeveloped into commercial buildings including a hotel and business offices.
The property is about 500,000 square feet and includes the iconic Adell Water Tower. Original owner Frank Adell developed the site in 1952 as an automotive factory. It was home to the Novi Expo Center until it closed in 2005, after the management company relocated to what is now the Suburban Collection Showplace on Beck Road. The vacant building was then demolished in 2012.
"It will be world-class mixed use development," Burton said at a press conference Wednesday morning discussing the redevelopment plans.
He said the 25-acre property is at a significant commercial location and is estimated to cost $100 million to develop.
"Right now, we're looking for occupants," he said.
One of those occupants could be a nationally known hotel, he said, although no deal has been finalized.
The City of Novi is also cooperating.
"The former Novi Expo Center property is centrally located at a prime intersection fronting both I-96 and Novi Road, providing access and visibility. We look forward to the redevelopment of the Adell Family property," said Clay J. Pearson, Novi's city manager, in a press release.
The preliminary design plans show mock-ups of the proposed twin "Adell Towers" with the Adell Water Tower standing nearby.
Eric D. Banks of CORE Partners, another developer in this project, said the plans include retail spaces on the first floor of the Towers. There will be no construction at the site until plans become more official, he said.
"We're hoping everything will unfold over the next 12 to 24 months," he said.
According to the developers' research, 145,000 cars will see the Towers daily because of it's easy visibility from the freeway and its location in the heart one of of Oakland County's premier shopping districts.