The Northville Downs harness racing track site is now in line to be redeveloped as 500 to 600 high-end rental apartments, townhouses and for-sale houses.

Hunter Pasteur Homes, a developer and luxury home builder, said Tuesday it has signed a contract to purchase the Northville Downs site and adjacent parcels totaling 48 acres. Randy Wertheimer, president and CEO of Hunter Pasteur Homes, announced the news.

Hunter Pasteur Homes will buy the Northville Downs site from the Northville Driving Club and the Carlo family partnership. Between the race track and the adjacent parcels, Hunter Pasteur Homes will assume ownership of approximately 48 acres of land in downtown Northville.

Operations at Northville Downs will continue as usual until site development begins. Financial details of the transaction were not disclosed. Northville Downs is looking to transfer its racing and wagering operations elsewhere nearby.

Contact John Gallagher: 313-222-5173 or Follow him on Twitter @jgallagherfreep.