What is going on at Red Wings arena site?

[emu steve]

https://www.freep.com/story/news/loc...use/607699002/

Appears the house next to the big garage on Cass could be coming down soon. Sad really, it's quite a beautiful home from an era long gone and with the right money could've been fixed up into apartments or a restaurant or even a small office.

Your logic is a head scratcher:

1). Someone has bought this property in 2002 and held onto it hoping to hit the 'lottery' with it, not as a fixer up house.

2). If the present owners wanted to do something to the house to save it they have only had 16 years to do so. The electrical fire happened years ago. They have shown no interest in rehabbing the house.

3). The owner and Olympia have been unable to agree on a deal. Doubt anyone else would bid serious bucks on it.

4). The present owners could spend hundred thousand to fix the property up and have a 'nice house' but wouldn't they rather sell it for millions to Olympia. Say it is worth 500 - 750K fixed up vs. say 3- 4M as development land for Olympia, what would the owner likely choose? I'm guessing they want 3M, 4M or even, good luck, 5M.