Fernando Palazuelo
Fernando Palazuelo, the new of the owner of the Packard Plant on the Detroit's east side, says he hopes to have the property clean enough to host a Detroit Symphony Orchestra concert in September and move an office onto the site.
JC Reindl of the Detroit Free Press reports that Peru-based developer Palazuelo also said Wednesday at a cocktail party downtown that he plans to start preliminary work on redeveloping the abandoned property next week and putting up new signs. He said he plans to have a personal apartment there.
“By Monday, you will see things moving in the Packard plant,” Palazuelo said, according to the Freep.
As for the concert, the Freep reports that DSO spokesperson Gabrielle Poshadlo said that orchestra officials toured the site and were considering a fall concert, but no decision has been made.
The Freep reports that Palazuelo says his ultimate plan is to transform the property into a modern, mixed-use development with light industrial and technology firms. He's also considering residential residential and cultural uses as well as housing a charter school.
Palzuelo says that the timetable for his development will depend on demand.
“If the market reacts positively, we will do it in five or seven years,” Palazuelo said. “If the market does not understand our proposal, it will take over 10 years.”
The Freep reports that he still owes back taxes on the property and he said he's trying to work that all out with the county
“I am sure they will get an agreement in the next week," he said. "This will be paid. I am not sure whether its $90,000 or $75,000.”
