Report: Detroit's infamous Packard plant headed for auction block

[Haltech]

Filed under: Auctions, Government/Legal



Crain's Detroit Business reports Detroit's abandoned Packard plant is set to come up for auction this September. Wayne County officially foreclosed on the property this year due to tax delinquency. The owner owed around $975,000 on the 43 parcels that make up the old manufacturing site, and bidding is expected to start at that figure. All of the parcels will be sold together as a bundled property, but if the plant fails to sell, Wayne County will put it up for auction again in October at a bundled $500 per parcel. That means that in theory, someone could walk away with the whole site for a mere $21,500.

Originally constructed in 1903, the plant covers 3.5 million square feet of floor area. Though the Packard auto brand closed up shop in 1958, other small businesses have used portions of the facility for a range of endeavors, including simple storage. Recent years have seen the plant devolve into an empty hulk, with scrappers, vandals and graffiti artists having their way with the sites many buildings.

The city of Detroit has been working to foreclose on the property for years, but wound up tangled in a legal dispute over who actually owns the land.Detroit's infamous Packard plant headed for auction block originally appeared on Autoblog on Tue, 11 Jun 2013 16:30:00 EST. Please see our terms for use of feeds.



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