The site that once housed a partially built mixed-use development that failed during the Great Recession has been completed with a different development team at the helm.
Southfield-based Redico LLC said it has completed construction of a handful of uses on the former 87-acre Bloomfield Park site — now called The Village at Bloomfield — which is both in Bloomfield Township and in Pontiac. Redico’s financial partner on the project is California-based Pacific Coast Capital Partners.
The project began in 2018 and includes 1.1 million square feet of retail, medical offices, businesses, seniors’ residences and multi-family housing.
Redico and PCCP purchased foreclosure rights to the property in 2015 from Wells Fargo Bank after the previous owner waived redemption rights.
“The completion of The Village at Bloomfield is a long overdue announcement to the community,” Redico President and CEO Dale Watchowski said in a statement. “The Redico team has worked hard to ensure this attractive mixed-use development gets the end it deserves – becoming an epicenter of activity in a vibrant neighborhood. We are delighted that residents of Bloomfield Hills, Pontiac and surrounding areas take advantage of everything it has to offer.”