Following up on yesterday's post, today's news brings word that there were other investors supporting the winning bidder on the Packard Plant, investors who have a background in real estate development, and that there is a definite plan going forward.
We predicted yesterday that the auction presaged a positive development for the property, which has virtually been in zombie mode for the last 50 years since it shut down. Although nothing is certain until it actually happens, a significant down payment is expected immediately with the balance of the $6 million payable within a week or two.
The property will be turned into a facility producing modular homes for shipment "all over the world."
Here's the Detroit News article.
Here's the Free Press.
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