The redevelopment of the former Kmart Corp. headquarters site could take a step forward next month.

The proposal in Troy to turn the 40-acre site into a mixed-use development called Somerset West goes before the Planning Commission for a public hearing and expected vote on the long-in-the-works vision on March 11.

R. Brent Savidant, the city’s community development director, said the commission will vote on whether to recommend Somerset West’s planned unit development proposal to the City Council, which would have the ultimate say.

The property is owned by a joint venture between the Forbes and Frankel families, which also together own the luxe Somerset Collection shopping mall next door.

In September, Nathan Forbes presented a revised vision for the site the families have owned for close to two decades. It follows up on a 2007 proposal for the site called The Pavilions of Troy, which featured many of the same components, minus a proposed University of Michigan Health multi-specialty ambulatory center for clinical and diagnostic services that’s now proposed for the property.

In addition to that, the development could include up to 750 residential units, up to 500,000 square feet of office space, up to 300,000 square feet of retail and a hotel with up to 250 rooms and parking.

Savidant called a late January updated conceptual site plan obtained by Crain’s over the weekend as “consistent with what was presented to the Planning Commission last September. No significant changes.”

In a statement, Forbes, who is managing partner of Southfield-based Forbes Co., said plans are fluid.

“The plan is evolving daily, and as part of the development process, we are continuing to explore the highest and best uses for this property to ensure they are reflective of the market, and incorporate the interests of our partners and community,” Forbes said. “This could ultimately include components of the original plan.”

The development under consideration sits on about 28 acres of the 40-acre site. The remaining 12 acres, which sit north of Cunningham, are subject to a 1973 consent judgment, which has been amended several times over the years. That judgment controls the development future of the property and multiple stakeholders would have to sign off on an amendment to it, Savidant told Crain’s last fall.

The former Kmart headquarters had long been vacant when demolition on the hulking, 1.1-million-square-foot former office complex began in the fall 2023.

After Kmart vacated it in the mid-2000s and moved to Illinois as a subsidiary of Sears Holding Corp., it continued its well-documented implosion across state lines.

Sidney Forbes, founder of Forbes Co., told Crain’s in 2012 that the purchase of the Kmart property “was a defensive move” after Farmington Hills-based Grand/Sakwa Development began courting Somerset Collection tenants for a retail development.

“So when we had the opportunity to buy that land, we took it,” Sidney Forbes said in 2012. Grand/Sakwa’s plans stalled at the Troy City Council and there has been little action on it since.

At its peak, the Kmart property accommodated 5,000 employees. When it was sold in 2005, it had fewer than 1,900, many of whom were transferred to Illinois.

Kmart’s last store in Michigan closed in November 2021, ending its run of nearly six decades after its first store opened in 1962 in Garden City. Financial woes hampered the retailer during the last two decades; it sought bankruptcy protection in 2002-2003 and eventually merged with Sears, Roebuck & Co. in 2004.