Commerce Township could have a new downtown area called Five & Main developed by fall 2020.

Developers are hoping to build a $100-million district with a luxury movie theater, gourmet market, up to 300 residential units combining luxury and senior living spaces and 350,000 square feet of retail.

The 60-acre development site sits on the northeast corner of M-5 and Pontiac Trail and has been vacant for about 10 years, said David Campbell, Commerce Township planning director.

"It's very significant for Commerce. We've seen nothing of this scale," Campbell said. "We think that this... will become Downtown Commerce because of the mix of uses, because there's a residential component so people are actually living in the area."

"There's kind of a round-the-clock life to this place. It's going to be walkable. There's going to be a Main Street element, so it's not gonna be a big box of stores surrounded in a sea of parking lots."

Plans also include public spaces for outdoor concerts, movies or holiday events.

The developer, Robert B. Aikens and Associates, will have to seek approval of a more detailed site plan from the township, but he hopes to break ground in 2019 and open the site in 2020.

The developer also built the 375,000-square-foot Village of Rochester Hills with 50 stores.

"There's faith that he can recreate that success," Campbell said.