The promise of a new Red Wings arena development made this notorious flophouse one of Detroit's hottest pieces of real estate. Now the owners have cashed out. We don't what the Temple Hotel sold for, but its sounding like the owners got a respectable chunk of the $3.7M they were asking for. The buyer: DTE Energy, which owns a neighboring substation needing upgrades to power the new arena. Some more facts:
· The Temple Hotel was built when Detroit's population was roughly 200,000.
· Prostitution and drugs have been the norm here since at least the 1960s.
· In a weird way, it was the last vestige of Detroit's ritzy "Hotel District."
· The previous owners paid $70,000 for the place in 1987.
So, the next time your electrical bill seems a bit high, know that a small fraction of your money went into buying a fire damaged, 19th century brothel in the Cass Corridor.
· Cass Corridor flophouse sold to DTE [Freep]