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A Chicago-area developer has agreed to buy the former Packard
manufacturing plant in Detroit for nearly $1 million in unpaid taxes,
and has been given permission to begin securing the 40-acre property,
according to the Wayne County Treasurer's office.
Developer Bill Hults had until the end of the day Thursday, September
12, to place the $1 million payment in escrow, according to Deputy
Treasurer David Szymanski. "I'm cautiously optimistic" that the deal
with go forward without a hitch, Szymanski said. He said Hults intends
to create a commercial, residential and entertainment complex from the
vacant and deteriorating factory buildings, which the county seized for
non-payment of taxes. "It's going to be an oasis of urban living - a
gated community of some sort," Szymanski said.
Read about the plant's fate on Hemmings.
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