2nd Packard bidder misses deadline; property now offered to Peru developer | Crain's Detroit Business: "The $2 million bid to buy the abandoned Packard plant has been scrapped.Now Fernando Palazuelo, a developer from Peru, can buy the plant for $405,000, his bid during last month's Wayne County tax foreclosure auction. "
Palazuelo placed the third-highest bid for the plant at October's tax foreclosure auction.
...Hults had wanted to turn the plant – which sits on 40 acres and has long been the target of scrappers, vandals, graffiti taggers and arsonists – into a development with a 120-room luxury hotel, more than 750 lofts, 1,500 single-family residences, and commercial and dining space.
It would have also included light manufacturing space.
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