Packard packed with problems, but som...

Packard packed with problems, but some hold out hope

There are 2 comments on the Detroit Free Press story from Nov 17, 2013, titled Packard packed with problems, but some hold out hope. In it, Detroit Free Press reports that:

Detroit has witnessed a few miracles of redevelopment in recent years. The Westin Book Cadillac, the DoubleTree Fort Shelby and the Broderick Tower all found new life after decades of abandonment.

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kevin

Toledo, OH

#1 Nov 18, 2013
Its been sitting vacant fer over 56 years.what's the rush all of a sudden,aye?
Pete

Livonia, MI

#2 Nov 18, 2013
kevin wrote:
Its been sitting vacant fer over 56 years.what's the rush all of a sudden,aye?
The city has obviously not been in a hurry. This property is 35+ acres in the heart of the city. It is unproductive and no tax money is forthcoming. Time is money. To show urgency is a sign of good property management. So they auctioned if for $6 million. I never suspected that deal would fly. The buyer forfeited thousands. The next bidder also disappeared and lost thousands more. It's down the the lowest $400,000 bidder who says he will have the money. We will see. The value is in the development that will generate jobs and taxes. Time is of the essence when the city is in such need.

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