According to the Detroit Free Press, on Friday, June 19th the Michigan Department of Management and Budget accepted the $55 million bid from Real Estate Interests Group, Inc. (REI) for the former Northville Psychiatric Hospital site. Bloomfield Hills based REI beat out Konstar LLC of Auburn Hills ($36 million) and Rock Construction Company Inc. of Livonia ($43.5 million) in the fourth round of bidding for the 422-acre property on the south side of 7 Mile Road in Northville Township. This is the fourth round of bidding for the parcel which is expected to bring residential and commercial development.
REI's environmental assessment deadline for the property is scheduled to be completed by September 15th.
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