Here's what we've been reading this week.
Packard Plant owner ready to let it go
One of the biggest redevelopments in Detroit has always seemed like an insurmountable task. Now its owner is seeing things that way. Fernando Palazuelo is "emotionally" ready to sell the sprawling, decaying Packard Plant for a price tag of $5 million. It took a long time to get here. He purchased the property in 2013 and had grand plans for it. There was even an official groundbreaking in 2017 as construction started on the administrative offices building. Progress continued slowly, and the bridge over East Grand Boulevard collapsed in early 2019. Palazuelo sees what the demand is in the market now, and knows that selling means it will likely be demolished in favor of new industrial construction. Detroit Free Press (paywall)
Andiamo building to be reworked into food hall, coworking space
Andiamo in Dearborn closed its doors in February and sold to new ownership. Plans for the 21,000-square-foot space include a food hall with 10 different food stalls, a coworking space, and a speakeasy/cigar bar. The food hall would include an array of different cuisines, seat about 350, and utilize the outdoor patio. Work is starting soon and is expected to be completed by May 2022. Detroit Free Press
East Riverfront plans move from hotel to apartments
A larger development in the East Riverfront originally called for a 120-room boutique hotel plus apartments on a 3.1 acre lot. The developer, Moddie Turay, is now planning for an apartment building with 478 units plus retail space. It sits along Atwater across from Cullen Plaza, near the parking structures east of the RenCen. The plan still needs approvals from the DEGC. Crain's
