New DH calendar
Article updated: 9/27/2013 7:16 AM

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

  • Article
text size: AAA
By Associated Press

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.

Advertisement

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.

Comments ()
We are now using Facebook comments to offer a more inclusive, social and constructive discussion. Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.

This article filed under

Business Video
Area Business Calendar

BusinessDirectory

Connect with a business or service in your area fast. First select a town, then enter a search term or choose one of the listed popular searches:

Don't see your town listed? Visit our full directory to begin your search.

MostViewed

Today
Yesterday
Most Commented
Top Jobs

    View all Top Jobs Place a job ad

    DHExtras

       
    • Newspaper next section - Newspaper next section Report card checker - report card checker
    • Dh innovation award 2 - Dh innovation award 2 Zillow /real estate page
    • Discuss refer On Guard series
    • Newspaper archives -- Monday or anyday Mike North

    FacebookActivity