Detroit unveils plan for Packard Plant revival
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A former Packard Plant building on East Grand Boulevard and Concord Avenue that is being planned for redevelopment. Photo: Joe Guillen/Axios
A new vision has been revealed for housing, jobs and recreation at the Packard Plant, one of Detroit's most notorious relics.
Why it matters: The Packard Plant has long been a source of embarrassment for the city and a target for outsiders to marvel at its abandonment.
Driving the news: The city signed a letter of intent with Packard Development Partners, led by local developers Mark Bennett and Oren Goldenberg, to transform the 28-acre southern section of the site into the new Packard Park.
Zoom in: It will include:
- Restoration of a vacant, 117,000-square-foot building designed by Albert Kahn along East Grand Boulevard into a multi-use hub with housing, an indoor skate park and space for the Museum of Detroit Electronic Music.
- A new 393,000-square-foot industrial building to house 300 permanent manufacturing jobs.
Yes, but: Officials cautioned that the redevelopment is in its early stages.
- "We're shooting for 2027 to get some shovels in the ground," said Goldenberg, who co-owns Dreamtroit, the redevelopment of the old Lincoln Motor factory.
- Developers expect the project to be finished by 2029.
Catch up quick: The city took ownership of 42 acres on the site after Peruvian developer Fernando Palazuelo failed to follow a court order in 2022 to demolish the abandoned plant, per the Detroit News.
- Palazuelo paid $405,000 for it at Wayne County's 2013 tax foreclosure auction, but his planned $350 million mixed-use development never materialized.
- The city ultimately used about $26 million in federal American Rescue Plan Act funds for demolition to make the site shovel-ready.
- Two buildings along East Grand Boulevard still stand for historic preservation, including the Kahn building that will be part of Packard Park.
What they're saying: Mayor-elect Mary Sheffield declared that the days of Packard representing the city's decline are over.
- "I am committed to seeing this project through for the betterment of this community and the city as a whole."
Follow the money: The project is expected to cost more than $50 million.
- Goldenberg referred funding questions to city officials. The mayor's office says funding will come from equity investment, commercial debt, philanthropy and tax credits.