The Troy Planning Commission will hold a public hearing today, on a plan to redevelop the former Kmart Corp. headquarters into a residential, retail and office facility.

The meeting begins at 7 p.m. at City Hall, 500 W. Big Beaver Road.

Forbes Frankel Troy Ventures proposes to build 750 residential units, 500,000 square feet of office space, 300,000 square feet of retail space and a 250-room hotel, according to Planning Commission documents.

The University of Michigan bought about 11 acres of the roughly 40-acre site at Big Beaver and Coolidge Highway for a multi-speciality health facility. U of M Health said in a release last year that it plans to expand clinical services and increase patient access in Oakland County.

The Planning Commission received more than a dozen letters from residents in support of the residential, retail and office project.

The Forbes Co. bought the vacant Kmart site in 2009 for $17.5 million. Forbes Frankel Troy Ventures has maintained the vacant property since then. The site sits adjacent to the company’s Somerset Collection shopping center.

The company said last year that it will maintain ownership and control of new developments on the site.

Forbes has other large multi-family residential developments in West Bloomfield Township, downtown Birmingham and Ann Arbor.

The former Kmart headquarters building was torn down in late 2023 and early 2024 after sitting vacant for 17 years.

The sprawling building opened in the early 1970s. It closed in 2006, when Kmart merged with Sears Holdings Corp. and moved most operations in Troy to the Sears headquarters in a Chicago suburb.

The Detroit News contributed to this report.