Packard Plant owner eyes bids for historic downtown buildings

[Jayp213]

--side note-- Whatever happened to that German club mogul that wanted to buy fisher body 21?Lol

[night-timer]

--side note-- Whatever happened to that German club mogul that wanted to buy fisher body 21?Lol

You're talking about Dimitri Hegemann, a German entrepreneur who also created the massive Tresor nightclub in Berlin.

[[Tresor - German for 'treasure')

Detroit and its aesthetic has a real appeal to many music fans, party animals and young folk.

In regards to Packard, I'd buy the Book Tower, the Fisher or the Kahn downtown well before the Packard on the Eastside. Either way, at least Fernando's obviously not a guy looking for a 'quick buck'.

[mikeg19]

After reading the article, yea, this guy is ambitious, I'll give him that. But I'm skeptical on financing these projects. Maybe he has the right idea by spreading out the massive Packard redevelopment over 10-20 years, going piece by piece rather than going gangbusters and trying to knock it all out at once. But his estimates on that are around $500M. The Book Tower/Building, according to DiRita in the article, might be in the neighborhood of $150-$200M. I don't know how much money charisma can garner, and this guy seems to have a lot of it, but were talking close to a Billion dollars in capital investments for these things to come to fruition. International investments are great, as long as they are willing to act on them [[Looking at you DDI and Triple Properties). Time will tell with this guy, but it's exciting to hear the mention of these other buildings and ideas he has.