DETROIT (AP) — Pistons owner Tom Gores and Schostak Brothers & Co. are forming a joint venture to redevelop The Palace of Auburn Hills and its surrounding land and the arena is expected to be demolished.

 

 

DETROIT, MI – JUNE 20: Owner Tom Gores of the Detroit Pistons talks to the media after hiring Dwane Casey as the teams new head coach at Little Caesars Arena on June 20, 2018 in Detroit, Michigan. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Gregory Shamus/Getty Images)

 

 

The Pistons moved from The Palace and begin playing in their new downtown arena in 2017. They are preparing to move remaining team and business operations from The Palace to the new Henry Ford Detroit Pistons Performance Center in Detroit, which is scheduled to be finished this fall.

Once that transition is complete, The Palace is expected to be demolished, although that is still in the planning stages and the exact timing isn’t certain, according to a person familiar with the plans. The person spoke to The Associated Press on condition of anonymity because specific plans have not been announced.

 

 

AUBURN HILLS, MI – APRIL 10: General view of the court at the final NBA game at the Palace of Auburn Hills during a game between the Washington Wizards and Detroit Pistons on April 10, 2017 in Auburn Hills, Michigan. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Gregory Shamus/Getty Images)

 

 

Schostak handles joint ventures, build-to-suit projects, mixed-use developments and retail.

The Pistons announced the joint venture with Schostak on Monday, and said a future mixed-use development is expected to include corporate office, research and development and technology companies.

 

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