Bloomfield Park - Pontiac MI

Address: Square Lake Rd and Telegraph Rd
City: Pontiac
State: MI
Zip:
County: Oakland
Number of visits to this page: 161
General Information:

This was a mixed use development that included condos and retail that was never finished due to the 2008 recession. In retrospect, I don't think it would have been successful had it been completed. The structures built will be demolished and a new development will be built including a Menard's and an Aldi's grocery store.

From the Detroit Free Press

Bloomfield Park was originally conceived in the 1990s by developer Craig Schubiner. The site was to be entirely on the township side of the Bloomfield-Pontiac border, although after township officials rejected Schubiner's proposal, he and his development company, the Harbor Cos., turned to Pontiac to have most of the land annexed, which voters approved in 2001.

Ultimately about 95% of the project was in Pontiac with the rest in Bloomfield Township.

When construction of Bloomfield Park's $350-million first phase began in fall 2006, the project was headed by a development partnership involving New York-based real estate private equity firm Coventry Real Estate Advisors and the Beachwood, Ohio-based, shopping center developer DDR Corp. While Schubiner stayed on as a partner, he always denied having control over what was eventually built or not built.di

By the time construction financing dried up in 2008 and all work halted, nearly $250 million had been sunk into the project, according to court documents. The contractors and other vendors reportedly recouped only about 15 cents on the dollar in a settlement.

Even before the recession hit, there were doubts about whether the area could absorb all the high-end residential and commercial space planned for Bloomfield Park.

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Bloomfield Park - AERIAL SHOT FROM CRAINS DETROIT BUSINESS
AERIAL SHOT FROM CRAINS DETROIT BUSINESS
Bloomfield Park - 2017 PHOTO FROM FREE PRESS
2017 PHOTO FROM FREE PRESS
Bloomfield Park - 2017 PHOTO FROM FREE PRESS
2017 PHOTO FROM FREE PRESS
Bloomfield Park - 2017 PHOTO FROM FREE PRESS
2017 PHOTO FROM FREE PRESS
Bloomfield Park - 2017 PHOTO FROM FREE PRESS
2017 PHOTO FROM FREE PRESS
Bloomfield Park - 2017 PHOTO FROM FREE PRESS
2017 PHOTO FROM FREE PRESS
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