November 25, 2009

Poor Old Detroit

This is absolutely amazing:

A Toronto property developer has won the auction for the $55.7 million vacant Silverdome stadium near Detroit for about 9 cents on the dollar.

The 34-year-old, 80,000-seat facility went on the block this summer by the city of Pontiac, about 30 miles north of Detroit.

Andreas Apostolopoulos, a Toronto property manager, told Canada's Globe and Mail newspaper he learned Monday his offer of $583,000 won.

"It was a bit surprising," he said, adding he had forgotten about bidding and enclosing a $250,000 deposit check with the bid.

Pontiac officials said only four bids were received on the stadium, which has been vacant since 2002 when the National Football League's Detroit Lions moved to a new downtown Detroit facility.

No comments:

Post a Comment