Meet Fernando Palazuelo; Packard Plant Site Saviour Number 3 [Now owner!]

**MikeyinBrooklyn** · November-18-13, 07:12 PM

I am also worried that he now wants to send a deposit. On Friday it was no problem to send the full amount Monday morning. I really really really hope he sends the whole amount tomorrow.

**corktownyuppie** · November-18-13, 09:45 PM

Originally Posted by MikeyinBrooklyn

I am also worried that he now wants to send a deposit. On Friday it was no problem to send the full amount Monday morning. I really really really hope he sends the whole amount tomorrow.

I have no way of knowing whether or not this guy will pay. But I will say that international wiring is tricky because you need to work with SWIFT codes before the funds even hit the federal reserve and then get forwarded.

we will see.

**Cliffy** · November-18-13, 10:06 PM

Yeah but what is up with this 10% down thing. Its not like 400k is a lot money in the grand scheme of things considering this thing is going to cost millions and millions. This auction has attracted an international cast of losers.

**MikeyinBrooklyn** · November-18-13, 10:32 PM

I hope we're wrong, but I agree Cliffy.

**Lily** · November-18-13, 11:35 PM

Gotta think that he should have checked and double checked his info.

and as for the comment from the county that same day transfers needed to be done by noon......not buying it. I get online transfers same day no problem at my office. You may not physically see it if you look online, but a simple phone call or e-mail to your company banker will get you an immediate answer. Hope i am wrong and the money arrives in the morning, but i wouldn't be counting on it.

**Honky Tonk** · November-19-13, 07:59 AM

Originally Posted by corktownyuppie

I have no way of knowing whether or not this guy will pay. But I will say that international wiring is tricky because you need to work with SWIFT codes before the funds even hit the federal reserve and then get forwarded.

we will see.

Yeah, it's probably his first time doing this.

**corktownyuppie** · November-19-13, 08:03 AM

Originally Posted by Honky Tonk

Yeah, it's probably his first time doing this.

Interesting you say that. I'm sure he has done it plenty of times. It's the County employees that I'm wondering about. How often do you think they give instructions for international wire transfer?

**Honky Tonk** · November-19-13, 08:30 AM

Originally Posted by corktownyuppie

Interesting you say that. I'm sure he has done it plenty of times. It's the County employees that I'm wondering about. How often do you think they give instructions for international wire transfer?

Good point. From my few dealings with City and County Government, they seem to be locked into a 60's mindset.

greekt0wn · November-19-13, 09:21 AM

Would this story just go away already? None of these losers have the kind of money this project calls for. The only thing this will lead to is years of film-flam "developers" trying to weasel out federal and state dollars to clean up the site. The east side of Detroit will not be livable again in our lifetime, see: South Side Chicago.

**mikeg19** · November-19-13, 10:21 AM

He tried the international wire transfer, then realized the only way to get the money to the outdated Wayne County system was by Currier pigeon.

**daddeeo** · November-19-13, 02:34 PM

This is starting to remind me of the Abbot and Costello routine about Who's On First? A continual comedy of errors and plain BS.

**Packman41** · November-19-13, 06:26 PM

Well, it looks like Wayne County gave Fernando an extra month to pay the balance due.

http://www.freep.com/article/2013111...ando-Palazuelo

“Wayne County Treasurer Ray Wojtowicz has granted a Peru-based developer an additional month to pay his $405,000 auction bid on Detroit’s old Packard Plant.

The developer, Fernando Palazuelo, was to make a 10% down payment today on the bid.

David Szymanski, chief deputy treasurer, said the county expects to receive confirmation of that $40,500 payment later this afternoon.

“He indicates that he has confirmation that the money is now in America and that it should be in our bank within an hour,” Szymanski said.”

**Jimbo** · November-19-13, 06:37 PM

I am thinking too many smoke and mirrors. Uh Oh!

**Cliffy** · November-19-13, 10:02 PM

This guy sounds worse than that Hultz guy. At least he came up with 200k. This guy needs a month to come up with 400k. Give me a break. Just call the sale off, give it to the Michigan Land Bank, and demolish this crap and move on. We are dealing with a bunch of jokes as bidders.

**Hypestyles** · November-20-13, 01:23 AM

all of this barely disguised fraud just makes the city/county look like pikers and laughingstocks. This is just plain idiotic.

**downtownguy** · November-20-13, 11:06 AM

Palazuelo makes deposit. County takes blame for Monday's screw-up on the wire transfer.

http://www.detroitnews.com/article/2...text|FRONTPAGE

**softailrider** · November-20-13, 12:21 PM

Originally Posted by greekt0wn

Would this story just go away already? None of these losers have the kind of money this project calls for. The only thing this will lead to is years of film-flam "developers" trying to weasel out federal and state dollars to clean up the site. The east side of Detroit will not be livable again in our lifetime, see: South Side Chicago.

Makes a lot of sense to me, I think you're right.

**DetroiterOnTheWestCoast** · November-20-13, 01:44 PM

Originally Posted by downtownguy

Palazuelo makes deposit. County takes blame for Monday's screw-up on the wire transfer.

http://www.detroitnews.com/article/2...text|FRONTPAGE

Good news. Not sure how much faith to have in it, but hoping for the best.

At least with this deposit and the Hults money, the county has realized some cash from the Packard site.

**WaCoTS** · November-20-13, 08:50 PM

who wants to take bets on how long before the glut of "What Will Become of Packard Plant Resident, Allan Hill?" articles start to come out?

**casscorridor** · November-21-13, 01:24 AM

The fact that there is so much interest in both the Packard Plant and the near east side should come as no surprise. These are merely men who recognize a great opportunity early on, before anyone else. Some of them will fail miserably, while others will be laughing at those who said it was impossible. It's simply a logical place to invest, with its proximity to the river and downtown. But it will take time to realize.

**Django** · November-21-13, 04:15 AM

I like your thinking casscorridor

**mikeg19** · November-21-13, 07:50 AM

How is the east side a great early opportunity? It's home to the most murderous zip code in the country and on google maps looks like a bombed out Baghdad. It has no direct propensity to downtown or midtown areas. IMO, the neighborhoods will not come back until almost every abandoned structure is bulldozed. Until then, growth will most likely emanate from downtown, midtown, and the riverfront. Yes, those areas can expand, but they aren't going to directly impact 6 Mile & Mound or a neighborhood off Outer Drive.

**Django** · November-21-13, 08:08 AM

The area East of 75 and South of 94 is ripe for cheap land and growth when the time is right. The Packard could be the catalyst that gets it going if the Packard is feasible to actually rebuild. The Cut is supposed to run right through there next to St Aunin. There are a lot of bad areas but some nice ones as well. I lived on Farnsworth at Moran for about 7 years and the folks there have turned that block into a nice little but expanding community.

**Richard** · November-21-13, 08:09 AM

It has easy excess to major rail,highway system,and an airport ,if the city zones the entire section as an enterprise zone that helps both residential and industrial it can be jump started,and you would not even have to build a new bridge to make it happen.

**jw101** · November-21-13, 08:27 AM

Originally Posted by MikeyinBrooklyn

This worries me. International wire transfers are easy and can be done almost instantly from any major bank.

http://www.freep.com/article/2013111...ando-Palazuelo

of course it does.