Representing one of the largest luxury residential developments announced in recent years, Franklin Property Corp. in Farmington Hills, in partnership with Whitehall Real Estate Interests in Novi, will break ground in February on a $120-million, 203-home lakefront community in Commerce Township.
The Reserve at Crystal Lake, which replaces a former sand and gravel operation that began operations in the 1950s, will see homes priced from $475,000 to $1.2 million along and near the 42-acre lake. Each home along the water will include a white-sandy beach and a dock, while the community will have access to a private beach with a cabana-style clubhouse.
The 160-acre project, which includes mature trees along the edges of the property that will be preserved, is located two miles east of downtown Milford — the north side of Sleeth Road, between Duck Lake and Bass Lake roads. The site is across Sleeth Road from the Proud Lake Recreation Area.
“We’ve been looking at the site for five years, and have worked on it earnest for the last two years,” says Andy Milia, president of Franklin Property Corp. “We will have four different sized lots — frontages of 60 feet, 83 feet, 105 feet in the interior, and 105 feet along the water — and Robertson Brothers Homes (in Bloomfield Hills) will be building the first 25 homes, and Evergreen Homes (in Canton Township) will be doing another 25 homes. We’re very excited about the project.”
The development, which was owned by the Chaldean Church, has been approved by the township. The land was brokered by Randy Thomas, president and CEO of Insite Commercial in Commerce Township. The sewer and water lines will be brought in from 1.5 miles away, and the community is in the Huron Valley School District.
The lake has a sandy bottom, and Milia says there is no pollution on the site. “The lake is literally crystal clear, having been created from the former sand and gravel operation,” says Milia. “Over the years, birds have brought in fish. The lake itself will be passive, meaning you can have electric boats, kayaks, and other non-motorized boats.”
He adds the housing mixture will provide for multiple generations. People who may buy a large home could scale down to something smaller in their later years. In addition to the private beach, residents will enjoy a handful of pocket parks in the neighborhood.
The homes will range in size from 2,000 square feet to 5,000 square feet. Milia says the land will be reshaped so it has a slight slope toward the lake. The average price of the homes will be around $600,000.
“There’s a shortage of lots in the region, and we see this project taking five years to build out,” says Milia. “It’s a unique piece of property.”