On Friday work crews began attacking the most crumbling parts of the Packard Plant in order to stabilize the mega building complex for the renovations to come. Owner Fernando Palazuelo has estimated that total redevelopment cost will be $350M on the building he purchased in the tax auction for $405,000. He plans to build apartments, retail, space for high-tech entrepreneurs, light industrial operations and artist studios. A representative told Crain's that taxes have been paid on the building and that work will include cleanup and remediation of all the environmental toxins.
· Crews begin demolition of Packard plant in Detroit [Crain's]
· Previous Packard Plant coverage [Curbed Detroit]