Quote:
Originally Posted by KarTek
Wow, I'm usually the first to believe in saving old buildings but there's literally not a brick or pane of glass to be saved in that place! The structure is so weak, I would never try to build anything on top of it.
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I'm also betting it's heavily contaminated with heavy metals, solvents, etc -- whoever buys it is buying costs of environmental remediation as well.
Looks like it was bid up to $6MM with that bidder failing to perform, so the ante is now at $2MM. Plus $1.5MM of liens, possibly. The current "winner" wants to convert it to housing and condos for GM workers.
http://www.crainsdetroit.com/article/20131103/NEWS/311039926/packard-plant-no-quick-turnaround#