Tentative deal looms on Detroit's Packard site - FOX 10 News | myfoxphoenix.com

Tentative deal looms on Detroit's Packard site

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Detroit's old Packard plant Detroit's old Packard plant
DETROIT (AP) -

Wayne County officials say they soon hope to finalize a deal with a developer to buy a former car plant that's become better known for destruction and urban decay.

Reports say the deal between the county and Evanston, Ill.-based developer Bill Hults is tentatively set to close next week on Detroit's old Packard plant. He's leading a group that wants to convert the 110-year-old facility into a commercial, housing and entertainment complex.

Many hurdles remain for Hults, who hasn't disclosed his partners or completed a project of this size. He says he's waiting for the closing.

Hults plans to buy the plant for its $1 million unpaid tax bill.

If the deal fails, the complex would be put in a public auction in September.

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