The quickly-changing landscape of Detroit-area arenas is set to undergo another major change as The Palace of Auburn Hills will be demolished.

Today, Detroit Pistons owner Tom Gores announced a new partnership with Livonia-based Schostak Brothers & Company to redevelop The Palace of Auburn Hills and its surrounding land. Schostak Brothers will be the lead and manage the development.

Crain's Detroit says, "This marks the first time that people directly tied to the property have publicly said it is to be razed."

110 acres will be cleared at the site with about 80 acres becoming buildable. The future development will be mixed-use which could include retail, offices, research & development, technology, entertainment and more.

There is no set timeline for the work, but Pistons offices still operating at the site are planning to be moved out by fall.