What is going on at Red Wings arena site?

[emu steve]

Ilitches don't own the land and house.

They are trying to buy the cleared land OR land and house and apparently have been for some time. That is in the article.

The owner is trying to maximize the selling price which might be to permit the property to remain derelict as long as legally possible.

The re-development question: Is this land key to starting another project?

If the city wanted to put the screws [[or maybe just be fair) they should raise the assessed value to say 1/2 of the asking price. The owner can't have it both ways say it is worth 5M on the market and have an assessed value reflective of a distressed property.