Thursday, January 2, 2014

It's Official Now

Looking back, I don't know why we did so many posts on the auction of the Packard Plant in Detroit.  Maybe because it was so symbolic of the hopeless situation that parts of the city were in.  Maybe because the sage turned into a huge soap opera with two failed purchasers.  Maybe because parts of the story were not being covered enough by the media.

The Packard Plant on January 2, 2014. The deed for the property is now in the hands of Peruvian Developer Fernando Palazuelo.

Whatever the reason, the sale is now official and the deed has been recorded.  Peru developer Fernando Palazuelo paid for it and now the Register of Deeds has put title to the property in his name.

Next step: development.

Link:
http://www.freep.com/article/20140102/BUSINESS06/301020075/Packard-Plant-deed-transfer-new-owner-Fernando-Palazuelo