Packard Plant may change hands again

Discussion in 'Other News' started by Chinatown, Oct 18, 2021.

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  2. Chinatown

    Chinatown Road Train Member

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    The property, which consists of two 20-acre sites, has an asking price of $5 million. Palazuelo bought the complex from Wayne County for $405,000 at a tax foreclosure auction.
     
  3. Chinatown

    Chinatown Road Train Member

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  4. Studebaker Hawk

    Studebaker Hawk Road Train Member

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    I happen to have intimate knowledge about this plant, it's history and the reasons for it's demise. My lifelong membership in clubs for Studebaker and Packard, and being close friends with renown Packard historians provide insight usually passed over by the MSM when this topic comes up.
    In a nutshell, The Studebaker and Packard automobile companies merged in Oct of 1954. Technically Packard bought Studebaker, neither did due diligence on the other. To quote popular press of the merger: "It was like 2 drunks trying to hold each other up" Both companies were in obsolete facilities in Detroit and South Bend, both were in dire financial straits with sales falling like a rock. The Packard plant produced it's last real Packard in Detroit in June of 1956. That is when the plant closed for automobile production and was subsequently sold by Studebaker Packard who needed the funds for continuing operations in South Bend, IN
    Investment companies purchased it for a bargain, and for many years successfully leased portions of the plant to many different companies. It was a quality bit of industrial real estate full leased until the middle 1970's.
    Enter Coleman Young, mayor of Detroit from 1974 to 1994. Coleman Young - Wikipedia
    He changed the real estate tax structure for the city to tax businesses at higher rates to pay for his administrations lofty social programs. Not only did the businesses in the Packard plant flee the city very quickly, businesses of all kinds left the city. Detroit is indeed the poster child for poorly run major cities. It is common knowledge how bad the city is and will continue to be.
    Just thought you might like to know.
     
  5. WildTiger1990

    WildTiger1990 Heavy Load Member

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    With Unions running Detroit automotive industry, City can forget about any new start up / plans from any major companies.
    Even Ford will build a new battery plant in Tennessee..
     
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  6. bzinger

    bzinger Road Train Member

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    I recently watched a documentary about happens when nature reclaims abandoned buildings and the Packard plant was on there .
    Between water , vegetation , freeze thaw cycles , vandals and scrappers there isn't much left of it .
     
  7. buddyd157

    buddyd157 Road Train Member

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    i don't know that particular area, but all that land sounds good for prime real estate for high rise apartments, condo's town houses.
     
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  8. bzinger

    bzinger Road Train Member

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    They'll probably have to dig clear
     
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  9. bzinger

    bzinger Road Train Member

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    To hell to get to clean soil.
     
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  10. N00bLaLoosh

    N00bLaLoosh Medium Load Member

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    It's one of the worst areas in the city.
     
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