Eleventh Hour Reprieve for Cass Tech?

[CLAUDE G]

There was a ligit offer to purchase and redevelop Tiger Stadium also, and as soon as it looked like we where gaining support the proposal was rejected and they rushed to finish the demolition.

Its the same issue here, here is what I feel is going on...

#1 If DPS was so concerned about the safety of the students and creating a green space for the new Cass Tech, the school would have been torn down 5 years ago.

#2 Illitch is about to build a new Hockey arena a few blocks away. With the rumors going on to cover I-75, and the economic growth that is about to happen in this area if the stadium gets built, the land that Cass Tech is sitting on is prime real estate.

#3 If a Hockey arena gets built a few blocks away, the area around the new arena should look clean. An old Cass Tech school that looks run down with no windows would create a negative impact on the new hockey arena.

#4 We see the developer has included a check with a $20,000 deposit, the question is what is the proposed purchase price of the building?

#5 Im going to speculate that the building purchase price is right around $500,000-$750,000 in its current condition. Once you get possession of the building, your going to spend another $7-10 million dollars to renovate it and turn it into lofts.

If you sell the building to a developer, all he is going to do is board up the windows and wait to see what happens with the Hockey arena. As soon as construction starts on the hockey arena, the developer is going to tear down Cass Tech himself, clear the land and sell it for several million dollars for a quick profit.

Personally I think its Tiger Stadium all over again, the city is going to tear it down and there is nothing we can do to stop it no matter how much money we have or how many people support saving it.

[Richard]

While I agree on what is posted above and would normally be par to the course but what makes this situation different is the alumni behind the push which is making it not an local issue,which was the case in Tiger stadium and others in the past.

the developer stated IF it gained the support,there are lots of public and some powerful persons in the background which could pool resources to make it happen.

Potential expensive piece of dirt because of what is proposed for the area in the future? Then it would be wise to rehabilitate it because it would be a good investment,surly they will consider how it would fit into the big picture and develop to fit it just makes sense.

It is going to interesting to see how this will play out as the call to if you believe in it take a part in its future is passed. There have been statements made by some well known celebrities in the past, if they do not step up now it would seem as though it was just reminiscing and not true support for what they believe in.

[rjk]

There was a ligit offer to purchase and redevelop Tiger Stadium also, and as soon as it looked like we where gaining support the proposal was rejected and they rushed to finish the demolition.

Rushed? It stood there for around 10 years waiting for someone to do something with it.
Someone comes in at the 11th hour and says hold on we now have a deal to developed it?
Who said it was a ligit offer? The people who came up with the proposal?

[jackie5275]

#4 We see the developer has included a check with a $20,000 deposit, the question is what is the proposed purchase price of the building?

It's common to require a bidder to put up a deposit check for construction type bids. There's nothing special about this.