Developers have officially broken ground on Detroit's historic Packard Plant.

A section of the 3.5-million-square foot site is being turned into office spaces for tenants. Tenants would be able to move in 2018 if construction finishes up as planned. Owner Fernando Palazuelo who purchased the site in 2013 at auction when the bankruptcy of Detroit was published.

The first phase will cost $16 million to bring the Packard Plant back to life. The first structure is set to be available for tenants to move into by the beginning of 2018. The second phase of rebuilding will begin later in 2018. All together the Packard Plant should be completely redeveloped in 7 to 10 years.


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