The wait is finally over!! After reason of speculation and numerous delays, the Packard Plant rebirth kicks off today with the official ground breaking ceremony for Phase 1 of the ambitious project.
From the Detroit News article
This week, project developers say the time has come to fulfill Palazuelo’s promise to breathe new life back into the facility with the first of four phases of the developer’s master plan, which will take at least 18 months and up to three years. Palazuelo has said the entire project is estimated to cost at least $350 million and take up to 15 years.
Construction was slated to begin in the fall of 2016 but was delayed for unknown reasons. The property has remained relatively quiet the last three years, prompting observers to wonder whether its revitalization would ever occur.
But shovels will ceremoniously hit the dirt Tuesday when Palazuelo, who declined comment on the project last week, and city officials attend a groundbreaking for phase one, which focuses on the 121,000-square-foot, four-story office building that served as the former plant’s administrative home. The 11 a.m. ceremony is open to the public at 1580 E. Grand Blvd.
For phase one, five buildings on the 3.5 million-square-foot commercial complex will be transformed into a community of mixed-use spaces including multifamily residential units, recreation, artist work space and light manufacturing.
Project costs at the plant include about $5.3 million in infrastructure improvements and brownfield work, such as $744,000 for demolition, $680,618 for lead and asbestos abatement, and $858,850 to prepare the site including excavation and disposal.
The scope of phase one involves the historical restoration of the administration building to preserve the outer structure and façade to appear as it did when the building was first constructed in 1911, according to a plan submitted to the Detroit Brownfield Redevelopment Authority by Kari Smith, a spokeswoman with Arte Express Detroit, the development company on the project.
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