There have been false hopes in the past about developing the monstrous Packard Plant on Detroit's east side on E. Grand Blvd. near I-94.. South American developer Fernando Palazuelo tried but failed.
Now, the latest sprinkle of hope has been dashed, at least for the moment.
Crain's Detroit Business reported this past week that the Detroit Economic Growth Corp. did not receive any bids from developers it deemed acceptable from a request for proposals it issued this spring.
Crain's goes on to report:
The DEGC will “continue to lift up the site as a development opportunity as we meet with companies/developers considering Detroit,” the spokesperson said in an email. “We are looking for a project that maximizes the economic opportunity of the size and location of the site through jobs and private investment while celebrating its historic significance.”
The city has been tearing down large sections of the plant, opening a path for developers.
