Packard Plant sold... for OVER $6,000,000 [Update: No it isn't]

**SpartanDawg** · October-25-13, 04:45 PM

Update from Free Press...
Wayne County cancels Texas doctor's Packard Plant bid, talks with other bidders

>> Jump to Cancellation Discussion >>

Original Thread Post below.
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what the fuck is going on?

http://www.mlive.com/business/detroi..._river_default

They couldn't sell it for a minimum bid of 1 million a few weeks ago.. now somebody buys it for over 6 million??

Wonder what "breathtaking redevelopment" project is going to come from this... and how long it'll take to flake out and not happen

**SpartanDawg** · October-25-13, 04:48 PM

Ok just googled the person that bought it.. it's a female doctor from texas, who quite possibly has top ten ugliest websites I've ever seen... it also seems like her "About Me" was written by a five year old...

http://www.drjillvanhorn.com/About_Us.html

**401don** · October-25-13, 05:29 PM

Originally Posted by SpartanDawg

Ok just googled the person that bought it.. it's a female doctor from texas, who quite possibly has top ten ugliest websites I've ever seen... it also seems like her "About Me" was written by a five year old...

http://www.drjillvanhorn.com/About_Us.html

I bought a big broken auto plant. I don't know why. It was fun. I will bill Medicaid more to pay for it. I hope you think this is a good idea. The end.

**SpartanDawg** · October-25-13, 06:42 PM

Originally Posted by 401don

I bought a big broken auto plant. I don't know why. It was fun. I will bill Medicaid more to pay for it. I hope you think this is a good idea. The end.

hahaha I wouldn't be surprised to see this added...

this whole situation really is so weird to me.

**DetBill** · October-25-13, 06:53 PM

Originally Posted by SpartanDawg

hahaha I wouldn't be surprised to see this added...

this whole situation really is so weird to me.

Most definetly a front for someone....In life if something smells it indeed stinks,, Wait till this all plays itself out.

**detroitpride313** · October-25-13, 07:40 PM

Originally Posted by DetBill

....In life if something smells it indeed stinks

EXACTLY!!!...this is so strange, but I will be positive about it. I mean, after all, what's the worse that can happen? It can't really get much worse than it is now. Even demolition would be an improvement.

**rb336** · October-25-13, 05:25 PM

that is just odd. as far as I can see, she has absolutely zero connection to Detroit. How would she even know about this in the first place?

**SpartanDawg** · October-25-13, 05:28 PM

no clue... this all seems really weird.. She still has to actually confirm she has the money..

maybe it was a buyer using her as the representative so as no to reveal themselves? idk. i guess we'll find out soon

**rb336** · October-25-13, 05:38 PM

Originally Posted by SpartanDawg

no clue... this all seems really weird.. She still has to actually confirm she has the money..

maybe it was a buyer using her as the representative so as no to reveal themselves? idk. i guess we'll find out soon

Texas. Ennis TX. Suburban Dallas. Who with connections to Detroit would have connections to someone in Dallas?

**MikeyinBrooklyn** · October-25-13, 05:52 PM

Originally Posted by rb336

Texas. Ennis TX. Suburban Dallas. Who with connections to Detroit would have connections to someone in Dallas?

HILARIOUS!

I wonder, separate thought, if she purchased on behalf of a different interested party. If so, who? It's enough money that I think it's not a whimsical buy. As much as I would love to see at least parts of the plant and associated buildings put to renovated use, I still suspect it's too expensive. I bet it all eventually gets demo'd.

**313WX** · October-25-13, 07:16 PM

Originally Posted by rb336

Texas. Ennis TX. Suburban Dallas. Who with connections to Detroit would have connections to someone in Dallas?

Comerica???

**Honky Tonk** · October-28-13, 08:13 AM

Originally Posted by rb336

Texas. Ennis TX. Suburban Dallas. Who with connections to Detroit would have connections to someone in Dallas?

The Kilpatricks?

**Cliffy** · October-25-13, 05:50 PM

This is clearly bizarre. Something fishy is going on.

**313WX** · October-25-13, 07:15 PM

This stinks to the high heavens. I'm just going to sit back and side eye this.

**DetroitPlanner** · October-25-13, 07:26 PM

Less than a month ago she could have bought it for $1 million or less. Either she was drinking or something is going on!

She is 40 years old and a DO. DO's don't typically make as much as MD's. 2002 graduate. I am sure she is just getting out from under her bills. Yeah looks odd. http://www.healthgrades.com/physicia...ckground-check

UPPDATE: Her husband is from Detroit according to WWJ.

**innercitydoc** · October-26-13, 02:20 PM

Originally Posted by DetroitPlanner

Less than a month ago she could have bought it for $1 million or less. Either she was drinking or something is going on!

She is 40 years old and a DO. DO's don't typically make as much as MD's. 2002 graduate. I am sure she is just getting out from under her bills. Yeah looks odd. http://www.healthgrades.com/physicia...ckground-check

UPPDATE: Her husband is from Detroit according to WWJ.

Not only that but she's a family practitioner, one of the lowest paying specialties next to pediatrics. She must be a straw buyer unless she comes from or is married to money.

**p1acebo** · October-27-13, 11:25 AM

Originally Posted by DetroitPlanner

Less than a month ago she could have bought it for $1 million or less. Either she was drinking or something is going on!

She is 40 years old and a DO. DO's don't typically make as much as MD's. 2002 graduate. I am sure she is just getting out from under her bills. Yeah looks odd. http://www.healthgrades.com/physicia...ckground-check

UPPDATE: Her husband is from Detroit according to WWJ.

Not that this pertains to the thread but DOs make just as much as MDs when you compare them in the same specialties [[i.e. comparing a DO ortho surgeon to an MD ortho surgeon as opposed to a family physician). The only difference is that more DOs usually go into primary care, specialties that generally pay less.

I suppose in this case she is a family physician, which generally pays a little less... depending on how the practice is managed [[If they have in house X-ray/labs etc the practice can make much more than the average family practitioner).

**Richard** · October-25-13, 07:41 PM

It is still only $2.40 a sq ft for industrial,you really need to be looking at the bigger picture and not like Detroit is a little bubble on mars,not connected to the rest of the world.

Combine smaller investors and you do not have to worry about hedge funds etc.

**JBMcB** · October-25-13, 07:49 PM

It does look weird.

The report could be wrong, or the treasurer got the name wrong.

**Cliffy** · October-25-13, 11:15 PM

Originally Posted by Richard

It is still only $2.40 a sq ft for industrial,you really need to be looking at the bigger picture and not like Detroit is a little bubble on mars,not connected to the rest of the world.

Combine smaller investors and you do not have to worry about hedge funds etc.

I forgot but someone on this board who was in the know said the site is contaminated and it would cost millions upon millions to decontaminate it.

**Hypestyles** · October-26-13, 10:02 AM

I hope these people aren't flakes who just wanted something "Detroit related" on a whim. I hope that there are measures to take back the property if the new owner[[s) don't actually start doing something with it in the immediate future.

**313WX** · October-26-13, 10:16 AM

Originally Posted by Hypestyles

I hope these people aren't flakes who just wanted something "Detroit related" on a whim. I hope that there are measures to take back the property if the new owner[[s) don't actually start doing something with it in the immediate future.

I'm just to assume they're flakes. Even if they can afford the property, why would doctors in suburban Dallas want anything to do with a crumbling hulk in Detroit?

**Baselinepunk** · October-26-13, 10:52 AM

Originally Posted by 313WX

I'm just to assume they're flakes. Even if they can afford the property, why would doctors in suburban Dallas want anything to do with a crumbling hulk in Detroit?

Tax write off or some sort of arrangement with other investors in which they can supply some depreciation?

Memory is a little foggy --- wasn't there a bunch of "investors" a few decades ago sitting on buildings in Detroit to take the hit on them for the portfolio?

Packard is going to take a lot of work and money; there are a ton of possibilities. Why isn't Packard something for the SuperFund?