Some preliminary demolition is underway at Detroit’s historic Packard Plant, to prepare the sprawling complex of abandoned buildings for an ambitious redevelopment project.
Peruvian developer Fernando Palazuelo bought the 40-acre site last year and wants to bring in apartments, retail, high-tech entrepreneurs, light industrial operations and artist studios.
Fernando Palazuelo said he has recently had several offers for the site — and he hasn’t budged.
The owner of Detroit’s blighted Packard car plant complex said he hopes to finish a master redevelopment plan for the site within three to four months.
It’s taken months, but the sale of the old Packard Plant on Detroit’s east side is complete.
A prospective buyer of a sprawling former car plant that for years has been a symbol of Detroit’s decline says he plans to live at the site as he redevelops the property.
Officials have turned to yet another bidder after a Chicago developer missed a payment deadline in his bid for the crumbling Packard Plant.
A Chicago developer hoping to buy the crumbling Packard Plant has received another extension.
It remains to be seen whether Chicago developer Bill Hults will buy Detroit’s defunct Packard plant.
Chicago area developer, William Hults made the $100,000 down payment towards the $2 million purchase price of the dilapidated Packard plant along East Grand Boulevard in Detroit.