The University of Michigan/Urban Land Institute (UM/ULI) real estate forum has chosen Troy as its area of study for the 21st annual meeting next November.
Though no site has been determined, the city will play host to the prestigious forum with particular focus given to three acres earmarked to become a transit center.
The land was donated to Troy by Grand Sakwa Properties in 2000 as the result of a consent judgment and must be developed by 2010 or it will revert back to private ownership.
Though the UM/ULI forum typically focuses on walkable urban environments, it has expanded its focus to suburban locations with "walkable urbanity."
The transit center, estimated to cost roughly $3.5 million, is seen to promote walkability with plans to offer bus stops, taxi stands and Amtrak boarding.
Unfortunately, civic leaders have yet to agree on a plan.
In the months leading up to the forum, the Troy Chamber of Commerce hopes to find donors to fund the forum's $250,000 study.
Source: The Urban Land Institute
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