Friday, June 12, 2015

Pontiac Silverdome owner asking $30 million for stadium

Posted By on Fri, Jun 12, 2015 at 10:07 AM

  • Flickr Creative Commons, user Dave Hogg

The Pontiac Silverdome has transformed into a dilapidated punchline ever since the Detroit Lions moved to Ford Field in Detroit. It's been the subject of slideshows illustrating how much the facility has fallen into disarray. After purchasing the Dome for just under $600,000 a few years back, the owner now wants to flip the joint for $30 million. From The Detroit News:

The current asking price of the former home of the Detroit Lions, currently owned by Triple Properties, is $30 million, according to broker Robert Mihelich.

The Toronto-based company purchased the Silverdome in 2009 for $583,000 at auction from Pontiac's emergency financial manager as it desperately tried to shed itself of costly city-owned properties and millions of dollars in red ink.

The announcement didn't sit well with Oakland County Treasurer Andy Meisner who took a shot at the "fire sale" investment on Thursday. 

“The marketing of the Silverdome for a ridiculous price after the property was bled dry is real estate speculation at its worst and proves there was never a viable plan," said Meisner, in a statement. "It’s time to focus on a successful redevelopment of this critical property, much like what needs to happen with Bloomfield Park, Northland and Summit Place Malls.”

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