Loading…
Tuesday, October 21, 2014
Current Weather
Loading Current Weather....
Published: Friday, 9/27/2013

Detroit's Packard plant could be sold for $21,000

ASSOCIATED PRESS

DETROIT — A former car plant that’s a symbol of Detroit’s industrial decline could be sold for as little as $21,000 after failing to get bids in an initial public auction.

The Detroit News and Detroit Free Press report the property is to be listed as a package of 42 parcels during the second round of the Wayne County treasurer’s tax foreclosure auction, which starts Oct. 8.

The online auction runs until Oct. 25. Bidding started at $1 million for the first round of the auction, which ended Thursday.

The property went to auction after Evanston, Ill.-based developer Bill Hults earlier missed a deadline to come up money to acquire the property. He’s leading a group that wants to convert the Packard plant into a commercial, housing and entertainment complex.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories