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RE: LeoThread 2024-11-20 12:56

in LeoFinanceyesterday

Part 8/8:

By 2011, the property was foreclosed upon by Wells Fargo, and the bank took ownership of the site. After a few failed bids, the property was sold to a local developer, REO, in 2014. REO assessed the site and determined that a mixed-use development would not be feasible, opting instead for a smaller, more commercial and low-density residential project.

In 2017, the majority of the existing Bloomfield Park structures were demolished, and a new development, The Village at Bloomfield, began to take shape. This new project, while more modest in scope, serves as a reminder of the ambitious yet ill-fated Bloomfield Park, a failed attempt to bring new urbanism to the Detroit suburbs.