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Beaumont Health, which has focused on expanding its footprint in the health care field, is diving into commercial development unrelated to the medical field.
It's an investment.
The hospital plans to demolish the neighboring Northwood Shopping Center at 13 and Woodward in Royal Oak, along with 28 row houses, to make way for new development, JC Reindl of the Detroit Free Press reports. Beaumont bought the land in 1982. The strip mall includes Kroger and Office Depot.
The project may include retail and office space.
"It was a good investment for us," Colette Stimmell, vice president of communications for Beaumont Health, tells the Freep. "But it's reached a point where the shopping center itself is old, it's outdated, it really needs to be upgraded, and that's what we're looking to do here."
Reindl writes:
Once the shopping center and other buildings are down, the nonprofit health system will try its hand at real estate development. Beaumont hopes to break ground next spring on some type of mixed-use project on the site. What exactly that project would include has not been determined, Stimmell said, but would likely feature retail and office space.
Crain's Detroit Business first broke this story.
