Winning bidder fails to follow-through

Detroit's Old Packard Plant back on Block

By Dave Leval
By Peter Neumann

Detroit's Old Packard Plant back on Block

October 30, 2013 Updated Oct 30, 2013 at 4:48 PM EDT

DETROIT, Mi. (My TV20 News at 10) --- A Texas doctor submitted a winning bid of $6 million last Friday for the old massive site.

However, the Wayne County Treasured canceled the deal jill Van Horn failed to send a $2 million down payment by today's deadline.

Negotiations are underway with Chicago-area developer Bill Hults who had the second highest bid, and Peruvian developer, Fernando Palazuelo.

He offered the third highest price for the property.

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