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

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.

What are your thoughts CLICK HERE to leave us a "My2Cents” comment.


© Copyright 2014 A Granite Broadcasting Station. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.