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Sold Stuff: Auction Edition

In the last tax auction, Phil Cooley of Slows BBQ scored a 30,000-square-foot building for $100,000 and now plans to turn it into "The Pony Ride," which will offer cheap rent to entrepreneurs and artists improving the community. Giddy up, Phil! "Usually, what has happened in the past, is a speculator would buy this for land control and let it deteriorate, and the community would deteriorate around it," Cooley said. "Or a small group of individuals would benefit from it but not the community. This project, specifically, we wanted to see if everyone could benefit." [MLive]