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Tuesday, November 17, 2009

The 80,000-seat Silverdome, built in 1975 on 127 acres in Pontiac, Mich., for the Detroit Lions for $55.7 million bunded by taxpayer-backed bonds, was bought by a Canadian developer for just $583,000 this week, reports  the Detroit News here.

The city was glad to be rid of the place at any price, or no price, it was so expensive to maintain, since the Lions moved out seven years ago, the News says.

 

Posted by Joseph N. DiStefano @ 3:02 PM  Permalink | 1 comment
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  • 0 like this / 0 don't   •   Posted 5:45 PM, 11/17/2009
    wow 4,500 an acre for improved land. he will make this money back in the 1st month!
    CamdenCountyReader


1 comments
About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com