The Hults is done. Wayne County finally dumped the deadbeat developer on Friday after he failed to meet his latest deadline. Twenty-one days after bidding on the Packard closed, we're down to winner #3. Detroit, meet your new Packard suitor: Fernando Palazuelo, a 58-year-old Spaniard known for tackling several historic renovations in Lima. Unlike Jill Van Horn or the Hults, Palazuelo is not a waste of space. He has a team of developers and planners behind him, and has expressed plans to save some of the buildings for a mixed-use development. He also looks like the most interesting man in the world.
As a final middle finger to The Hults, Wayne County is keeping his $200K deposit. To own the Packard outright, Palazuelo will only have to pay $405K.
· The Hults Remains Terrible at Paying For Packard Plant [Curbed]
· Another Packard Plant bidder fails to deliver [Freep]